Form 4: Udemy CFO's Stock Withholding for Tax Obligations

Udemy's Chief Financial Officer, Sarah Blanchard, had 9,599 shares withheld by the company to cover tax obligations related to vested stock units.

Summary

• Sarah Blanchard, Chief Financial Officer of Udemy, Inc. (UDMY), reported a transaction on October 15, 2025.
• The transaction involved the disposition of 9,599 shares of Common Stock.
• These shares were withheld by Udemy to satisfy tax withholding requirements on the vesting and settlement of restricted stock units and/or performance stock units.
• No shares were sold by Ms. Blanchard in this transaction.
• The shares were valued at $6.5 per share for the purpose of this withholding.
• Following this reported transaction, Ms. Blanchard beneficially owns 1,263,511 shares of Common Stock directly.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary transaction (shares withheld for tax) related to equity compensation, which is neutral in terms of company performance or outlook.

Future Outlook

This filing does not contain any forward-looking statements or guidance.

Industry Context

This is a routine insider transaction common across publicly traded companies where executives receive equity compensation. The withholding of shares for tax purposes upon vesting of restricted or performance stock units is a standard practice to cover statutory tax obligations.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations upon the vesting of equity awards is a standard and widely accepted method of managing tax liabilities for executives receiving stock-based compensation across all industries.
• This transaction is consistent with typical equity compensation plans seen in technology and education sectors, where companies like Coursera, Chegg, or 2U also utilize similar mechanisms for executive stock awards.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine tax-related transaction and not a discretionary sale. It confirms the vesting of executive equity compensation.
• Employees: Confirms the standard operation of the company's equity compensation plans.

Key Dates

Keywords

Udemy, UDMY, Form 4, Insider Transaction, Stock Withholding, Sarah Blanchard, CFO, Equity Compensation, Restricted Stock Units, Performance Stock Units