Amendment: Director Nakache Patricia converted options into 163,936 shares (SEC Form 4)
$TDUP
Catalog/Specialty Distribution
Consumer Discretionary
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a 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). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
ThredUp Inc. [ TDUP ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 07/26/2024 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) 07/30/2024 |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Class A Common Stock | 07/30/2024 | C | 161,442 | A | $0(1) | 161,442(2) | I | By Trinity Ventures X, L.P.(3) | ||
| Class A Common Stock | 07/30/2024 | C | 1,599 | A | $0(1) | 1,599(4) | I | By Trinity X Entrepreneurs' Fund, L.P.(3) | ||
| Class A Common Stock | 07/30/2024 | C | 895 | A | $0(1) | 895(5) | I | By Trinity X Side-By-Side Fund, L.P.(3) | ||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Class B Common Stock | (1) | 07/30/2024 | C | 161,442 | (6) | (6) | Class A Common Stock | 161,442 | $0(6) | 6,696,685(2) | I | By Trinity Ventures X, L.P.(3) | |||
| Class B Common Stock | (1) | 07/30/2024 | C | 1,599 | (6) | (6) | Class A Common Stock | 1,599 | $0(6) | 66,302(4) | I | By Trinity X Entrepreneurs' Fund, L.P.(3) | |||
| Class B Common Stock | (1) | 07/30/2024 | C | 895 | (6) | (6) | Class A Common Stock | 895 | $0(6) | 37,007(5) | I | By Trinity X Side-By-Side Fund, L.P.(3) | |||
| Explanation of Responses: |
| 1. Each share of Class B Common Stock was converted into one share of Class A Common Stock for no additional consideration. |
| 2. As of the date of the filing of this amendment, Trinity Ventures X, L.P. owns 98,482 shares of Class A Common Stock and 6,696,685 shares of Class B Common Stock. |
| 3. The Reporting Person is a Management Member of Trinity TVL X, LLC, the general partner of Trinity Ventures X, L.P., Trinity X Entrepreneurs' Fund, L.P. and Trinity X Side-By-Side Fund, L.P. (collectively, the "Trinity Funds"), and shares voting and dispositive power with the other Management Members over the shares held by each of the Trinity Funds. The Reporting Person disclaims beneficial ownership of the shares reported herein except to the extent of her pecuniary interest therein. |
| 4. As of the date of the filing of this amendment, Trinity X Entrepreneurs' Fund, L.P. owns 975 shares of Class A Common Stock and 66,302 shares of Class B Common Stock. |
| 5. As of the date of the filing of this amendment, Trinity X Side-By-Side Fund, L.P. owns 546 shares of Class A Common Stock and 37,007 shares of Class B Common Stock. |
| 6. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and upon the occurrence of other events set forth in the Issuer's Certificate of Incorporation. |
| Remarks: |
| This amendment is being filed to report conversions of Class B Common Stock to Class A Common Stock and not a purchase or sale of securities--which conversions were inadvertently underreported on the original Form 4 filed on July 30, 2024 (the "Original Form 4"). Column 5 of Table I and Column 9 of Table II report, in each case, the number of securities beneficially owned immediately following the conversions reported herein. The number of shares beneficially owned as of the date of the filing of this amendment are set forth in footnotes (2), (4) and (5). |
| /s/ Patricia E. Nakache | 10/29/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||