Form 4: Udemy CFO Sarah Blanchard Reports Stock Transactions

Sarah Blanchard, Udemy's CFO, reports the acquisition and disposal of common stock and restricted stock units.

Summary

• On February 20, 2025, Sarah Blanchard, the Chief Financial Officer of Udemy, Inc., acquired 39,375 shares of common stock related to a performance-based restricted stock unit (PSU) award.
• These PSUs are subject to time-based vesting, with one-fourth vesting on March 15, 2025, and then 1/16th vesting quarterly thereafter.
• On March 15, 2025, Blanchard acquired 147,727 restricted stock units (RSUs) under the 2021 Equity Incentive Plan, vesting 1/12th quarterly starting June 15, 2025.
• Also on March 15, 2025, 12,659 shares were withheld by Udemy to cover tax obligations related to the vesting of RSUs and PSUs at a price of $8.2.
• Following these transactions, Blanchard beneficially owns 1,108,084 shares of Udemy common stock.

Sentiment

Score: 5

Explanation: The document is a neutral report of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Positives

• The vesting of performance-based restricted stock units indicates that performance targets were met.
• The grant of restricted stock units aligns the CFO's interests with the long-term success of the company.

Negatives

• The withholding of shares to cover tax obligations reduces the number of shares directly held by the CFO.

Future Outlook

The PSUs will continue to vest quarterly after March 15, 2025, and the RSUs will vest quarterly starting June 15, 2025, subject to continuous service.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the stock ownership of key executives.

Stakeholder Impact

• Shareholders may be interested in the stock ownership of key executives as it can align interests.
• Employees may view stock grants as a positive incentive.

Key Dates