Venu Venugopal - 03 Nov 2023 Form 4 Insider Report for Udemy, Inc. (UDMY)

Signature
/s/ Daniel Horwood, Attorney-in-Fact
Issuer symbol
UDMY
Transactions as of
03 Nov 2023
Net transactions value
-$338,496
Form type
4
Filing time
07 Nov 2023, 17:31:33 UTC
Previous filing
19 Sep 2023
Next filing
17 Nov 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UDMY Common Stock Options Exercise $74,880 +24,000 +6.3% $3.12 405,670 03 Nov 2023 Direct
transaction UDMY Common Stock Sale $338,496 -28,208 -7% $12.00 377,462 03 Nov 2023 Direct

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 UDMY Employee Stock Option (right to buy) Options Exercise $74,880 -24,000 -50% $3.12 24,000 03 Nov 2023 Common Stock 24,000 $3.12 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 One-fourth of the shares underlying the option vested on May 1, 2020 and 1/48th of the remaining shares vest monthly thereafter.