GitLab (GTLB) director’s trust converts and sells 54,300 Class A shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GitLab Inc. director and major shareholder Sytse Sijbrandij, acting through the Sytse Sijbrandij Revocable Trust, converted 54,300 shares of Class B common stock into Class A common stock and sold 54,300 Class A shares under a pre-arranged Rule 10b5-1 trading plan.
The trust sold 51,300 Class A shares at a weighted average price of $28.36 (with individual trades from $27.91 to $28.90) and 3,000 shares at $29.18 (with trades from $28.99 to $29.51). Following these transactions, the trust held 15,250,651 Class B shares and no Class A shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 54,300 shares ($1,542,408)
Net Sell
4 txns
Insider
Sijbrandij Sytse
Role
Director, 10% Owner
Sold
54,300 shs ($1.54M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 54,300 | $0.00 | -- |
| Conversion | Class A Common Stock | 54,300 | $0.00 | -- |
| Sale | Class A Common Stock | 51,300 | $28.36 | $1.45M |
| Sale | Class A Common Stock | 3,000 | $29.18 | $88K |
Holdings After Transaction:
Class B Common Stock — 15,250,651 shares (Indirect, By Trust);
Class A Common Stock — 54,300 shares (Indirect, By Trust)
Footnotes (1)
- Each share of the Issuer's Class B common stock (the "Class B Stock") is convertible into one share of the Issuer's Class A common stock at any time and will convert automatically upon certain transfers and upon the earlier of (i) ten years from the date of the Issuer's initial public offering ("IPO"), (ii) the death or disability of the Reporting Person, (iii) the first date following the completion of the IPO on which the number of shares of outstanding Class B Stock (including shares of Class B Stock subject to outstanding stock options) is less than 5% of the aggregate number of shares of the Issuer's common stock then outstanding and (iv) the date specified by a vote of the holders of two-thirds of the then outstanding shares of Class B Stock. These securities are held by the Sytse Sijbrandij Revocable Trust dated February 21, 2019, of which the Reporting Person is the sole trustee. This transaction was executed pursuant to a trading plan entered into by the reporting person, as the sole trustee of the Sytse Sijbrandij Revocable Trust dated February 21, 2019, on December 26, 2024 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.91 to $28.90, inclusive. The Reporting Person undertakes to provide to GitLab Inc., any security holder of GitLab Inc., or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote 4 and footnote 5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.99 to $29.51, inclusive.
FAQ
What insider transactions did GitLab (GTLB) report for Sytse Sijbrandij?
GitLab reported that the Sytse Sijbrandij Revocable Trust converted 54,300 Class B shares into Class A and then sold 54,300 Class A shares. All actions were indirect holdings associated with Sijbrandij as sole trustee of the revocable trust.