Form 4: Udemy CFO Sells 25,000 Shares Under 10b5-1 Plan

Udemy's Chief Financial Officer, Sarah Blanchard, sold 25,000 shares of common stock for approximately $5.25 per share, executed under a pre-arranged 10b5-1 trading plan.

Summary

• Sarah Blanchard, Chief Financial Officer of Udemy, Inc. (UDMY), reported the sale of 25,000 shares of common stock.
• The transaction occurred on December 15, 2025, at a weighted average price of $5.2502 per share.
• The sale was executed automatically pursuant to a Rule 10b5-1 trading plan adopted by Ms. Blanchard on March 14, 2025.
• Following this transaction, Ms. Blanchard directly beneficially owns 1,208,046 shares of Udemy common stock.
• The shares were sold in multiple trades at prices ranging from $5.16 to $5.29.

Sentiment

Score: 5

Explanation: A neutral score. While an insider sale can be perceived negatively, the execution under a 10b5-1 plan mitigates concerns about opportunistic timing. It's a routine personal financial management event for an executive.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned transaction rather than an immediate reaction to new, non-public information.

Negatives

• An insider sale, even under a 10b5-1 plan, reduces the officer's direct equity stake in the company.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or any security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Industry Context

This insider transaction is specific to Udemy, Inc. and does not directly provide broader industry trends or competitive insights. Insider sales are common across various industries, particularly when executed under pre-arranged 10b5-1 plans.

Stakeholder Impact

• Shareholders: A slight reduction in the CFO's direct ownership, but the 10b5-1 plan context suggests it is not based on new negative information.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific insider transaction.

Next Steps

• The reporting person has undertaken to provide full information regarding the number of shares and prices at which the transaction was effected upon request.

Key Dates

Recommendation

This Form 4 filing reports a routine insider sale executed under a pre-arranged 10b5-1 plan. Such transactions are typically for personal financial planning and do not usually signal a change in the company's fundamental outlook or warrant a change in investment recommendation based solely on this disclosure. Investors should continue to evaluate Udemy based on its operational performance, financial results, and strategic initiatives.

Keywords

Udemy, UDMY, Sarah Blanchard, CFO, Insider Sale, Form 4, 10b5-1 Plan, Stock Transaction, Beneficial Ownership