Form 4: Udemy CFO Sarah Blanchard Disposes of Shares to Cover Tax Obligations

Udemy's Chief Financial Officer, Sarah Blanchard, disposed of 41,605 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• Udemy's Chief Financial Officer, Sarah Blanchard, disposed of 41,605 shares of common stock on November 15, 2024.
• The shares were disposed of at a price of $8.15 per share.
• This transaction was to cover tax withholding requirements on the vesting and settlement of restricted stock units and/or performance stock units.
• No shares were sold in the open market.
• Following the transaction, Ms. Blanchard beneficially owns 951,858 shares of Udemy common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment. It is a standard procedure for executives with stock-based compensation.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for companies to withhold shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Stock-based compensation and the subsequent tax withholding are standard practices across publicly traded companies.
• The use of Form 4 filings to disclose insider transactions is a regulatory requirement for all public companies in the US.
• The share price of $8.15 is a specific value for this transaction, and would need to be compared to the market price of Udemy stock at the time of the transaction to assess if it was a fair value.

Stakeholder Impact

• The transaction has a neutral impact on shareholders as it is a standard procedure for tax obligations.
• There is no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Udemy, Sarah Blanchard, CFO, stock disposal, tax withholding, restricted stock units, performance stock units, Form 4, insider transaction