Coursera director Paterson reports 76,138-share stake
Coursera, Inc. director Lydia Paterson reported her initial ownership of Coursera common stock on a Form 3.
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Form Type
3
Rhea-AI Filing Summary
Coursera, Inc. director Lydia Paterson reported her initial ownership of Coursera common stock on a Form 3. She holds 76,138 shares of common stock directly following the Merger of Chess Merger Sub, Inc. with Udemy, Inc., with Udemy becoming a wholly owned subsidiary of Coursera.
At the Merger’s effective time, each of Ms. Paterson’s outstanding restricted stock units in Udemy became fully vested and converted into Coursera common stock at a 0.800 exchange ratio. Her Udemy stock options were canceled because their exercise prices were higher than the value determined by the average Coursera trading price, multiplied by 0.800.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Paterson Lydia
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 76,138 shares (Direct)
Footnotes (3)
- F1. In connection with the terms of the Agreement and Plan of Merger, dated December 17, 2025, by and among Udemy, Inc. ("Udemy"), Coursera, Inc. ("Coursera"), and Chess Merger Sub, Inc., a direct wholly owned subsidiary of Coursera ("Merger Sub"), Merger Sub merged with and into Udemy (the "Merger"), with Udemy surviving the Merger as a wholly owned subsidiary of Coursera.
- F2. At the effective time of the Merger (the "Effective Time"), each outstanding restricted stock unit award covering shares of Udemy common stock held by Ms. Paterson became fully vested and converted into the right to receive the number of shares of Coursera common stock (rounded to the nearest whole number of shares) equal to the product of (1) the number of shares of Udemy common stock that had been subject to such award as of immediately prior to the Effective Time, multiplied by (2) 0.800.
- F3. At the Effective Time, Ms. Paterson's stock options were canceled without payment because the exercise price of the options was higher than the product of (1) the average of the closing-sales prices of Coursera Common Stock for the consecutive period of five full trading days ending on the day preceding May 11, 2026, multiplied by (2) 0.800.
Key Figures
Direct common stock holdings: 76,138 shares
RSU conversion ratio: 0.800
Merger agreement date: December 17, 2025
+1 more
4 metrics
Direct common stock holdings
76,138 shares
Coursera common stock held directly following the Merger
RSU conversion ratio
0.800
Udemy RSUs converted into Coursera common stock at 0.800
Merger agreement date
December 17, 2025
Agreement and Plan of Merger among Udemy, Coursera, and Merger Sub
Effective date reference
May 11, 2026
Five-day trading period ending the day preceding May 11, 2026 used in option value test
Key Terms
Agreement and Plan of Merger, restricted stock unit, Effective Time, exercise price, +1 more
5 terms
Agreement and Plan of Merger regulatory
"In connection with the terms of the Agreement and Plan of Merger, dated December 17, 2025, by and among Udemy, Inc., Coursera, Inc., and Chess Merger Sub, Inc."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
restricted stock unit financial
"each outstanding restricted stock unit award covering shares of Udemy common stock held by Ms. Paterson became fully vested and converted into the right to receive Coursera shares"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Effective Time regulatory
"At the effective time of the Merger (the "Effective Time"), each outstanding restricted stock unit award covering shares of Udemy common stock held by Ms. Paterson became fully vested"
The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.
exercise price financial
"Ms. Paterson's stock options were canceled without payment because the exercise price of the options was higher than the product of the average Coursera price and 0.800"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
Coursera common stock financial
"converted into the right to receive the number of shares of Coursera common stock equal to the product of the Udemy shares and 0.800"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does Lydia Paterson’s Form 3 filing show for Coursera (COUR)?
The Form 3 shows Lydia Paterson directly owns 76,138 shares of Coursera common stock. This reflects her initial reported holdings after Udemy became a wholly owned subsidiary of Coursera through the merger structure.
What happened to Lydia Paterson’s Udemy stock options in the Coursera merger?
At the effective time of the Merger, Ms. Paterson’s Udemy stock options were canceled without payment. Their exercise prices exceeded the value calculated as the five-day average Coursera closing price multiplied by the 0.800 factor.
What merger is referenced in Lydia Paterson’s Coursera (COUR) Form 3?
The filing references the Agreement and Plan of Merger dated December 17, 2025 among Udemy, Coursera, and Chess Merger Sub, Inc. Merger Sub combined with Udemy, which survived as a wholly owned subsidiary of Coursera.
Does Lydia Paterson’s Coursera Form 3 indicate any recent stock purchases or sales?
The Form 3 primarily records initial holdings of Coursera common stock, totaling 76,138 shares directly owned. It does not report open-market purchases or sales, focusing instead on positions resulting from the merger and equity award conversions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
