DAVID SATTERWHITE - 15 Nov 2022 Form 4 Insider Report for UserTesting, Inc. (USER)

Role: Chief Revenue Officer
Signature: /s/ Mona Sabet as attorney-in-fact for David A. Satterwhite
Issuer symbol: USER
Transactions as of: 15 Nov 2022
Transactions value $: -$108,118
Form type: 4
Filing time: 17 Nov 2022, 20:55:46 UTC
Previous filing: 16 Nov 2021
Next filing: 13 Jan 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	USER	Common Stock	Options Exercise		+40K	+17.41%		270K	15 Nov 2022	Direct	F1, F2
transaction	USER	Common Stock	Sale	-$108K	-14.6K	-5.4%	$7.42	255K	16 Nov 2022	Direct	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	USER	Restricted Stock Units	Options Exercise	$0	-40K	-25%	$0.00	120K	15 Nov 2022	Common Stock	40K		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one (1) share of the Issuer's Common Stock upon settlement for no consideration.
F2	Includes 5,000 shares of Common Stock acquired under the Issuer's employee stock purchase plan on May 17, 2022 and November 14, 2022.
F3	The sale of shares is for the sole purpose of covering the Reporting Person's tax liability with respect to the settlement of RSUs.
F4	The RSUs shall vest as to 25% of the total shares on November 15, 2022, with an additional 6.25% of the total shares vesting on each subsequent February 15, May 15, August 15, and November 15 thereafter until such time as the RSUs are 100% vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.