Form 4: Udemy Director Abbasi Sohaib Receives Restricted Stock Units in Lieu of Cash Retainer

Director Abbasi Sohaib of Udemy, Inc. received 3,540 restricted stock units (RSUs) on September 30, 2024, in lieu of a quarterly cash retainer.

Summary

• On September 30, 2024, Sohaib Abbasi, a director of Udemy, Inc., acquired 3,540 shares of common stock in the form of restricted stock units (RSUs).
• These RSUs were granted under the company's 2021 Equity Incentive Plan.
• The RSUs vest immediately upon grant, but the settlement is deferred until the earlier of January 1, 2027, or separation of service from the Issuer.
• Abbasi elected to receive these RSUs in place of a quarterly cash retainer.
• Following the transaction, Abbasi beneficially owns 63,180 shares of Udemy common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction of granting RSUs to a director. The director taking RSUs instead of cash is a slightly positive signal.

Positives

• The director's decision to take RSUs instead of cash may signal confidence in the company's future performance.

Future Outlook

The settlement of the RSUs is deferred until the earlier of January 1, 2027, or separation of service from the Issuer.

Industry Context

This type of equity compensation is common for directors and executives in publicly traded companies, aligning their interests with those of shareholders.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.

Key Dates