Venu Venugopal - Jan 2, 2024 Form 4 Insider Report for Udemy, Inc. (UDMY)

Signature
/s/ Daniel Horwood, Attorney-in-Fact
Stock symbol
UDMY
Transactions as of
Jan 2, 2024
Transactions value $
-$56,440
Form type
4
Date filed
1/4/2024, 08:07 PM
Previous filing
Dec 19, 2023
Next filing
Feb 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UDMY Common Stock Options Exercise $12.5K +4K +1.14% $3.12* 356K Jan 2, 2024 Direct
transaction UDMY Common Stock Sale -$56.4K -4K -1.12% $14.11 352K Jan 2, 2024 Direct F1

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 -$12.5K -4K -0.53% $3.12* 744K Jan 2, 2024 Common Stock 4K $3.12 Direct F2
* 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 These transactions were executed in multiple trades at prices ranging from $13.92 to $14.52. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F2 One-fourth of the shares underlying the option vested on May 1, 2020 and 1/48th of the remaining shares vest monthly thereafter.