Gitlab (NASDAQ: GTLB) director trust converts and sells 116,200 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Gitlab Inc. director Sytse Sijbrandij, through the Sytse Sijbrandij Revocable Trust, converted 116,200 shares of Class B common stock into the same number of Class A shares on April 15, 2026. Immediately after the conversion, the trust sold all 116,200 Class A shares in open-market transactions at a weighted average price of $20.77 per share, with individual sale prices ranging from $20.46 to $20.99. Following these transactions, the trust continued to hold 15,134,451 Class B shares, so the sale represents a small portion of Sijbrandij’s indirect holdings. The filing notes the sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 19, 2025.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 116,200 shares ($2,413,474)
Net Sell
3 txns
Insider
Sijbrandij Sytse
Role
Director
Sold
116,200 shs ($2.41M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 116,200 | $0.00 | -- |
| Conversion | Class A Common Stock | 116,200 | $0.00 | -- |
| Sale | Class A Common Stock | 116,200 | $20.77 | $2.41M |
Holdings After Transaction:
Class B Common Stock — 15,134,451 shares (Indirect, By Trust);
Class A Common Stock — 116,200 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 19, 2025 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 $20.46 to $20.99, 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.
Key Figures
Shares converted: 116,200 shares
Shares sold: 116,200 shares
Average sale price: $20.77 per share
+3 more
6 metrics
Shares converted
116,200 shares
Class B to Class A conversion on April 15, 2026
Shares sold
116,200 shares
Class A shares sold in open market on April 15, 2026
Average sale price
$20.77 per share
Weighted average sale price for 116,200 Class A shares
Sale price range
$20.46–$20.99
Range of execution prices for sold Class A shares
Class B holdings after
15,134,451 shares
Indirect Class B common stock held by trust after transactions
10b5-1 plan date
December 19, 2025
Adoption date of trading plan governing the reported sale
Key Terms
Class B common stock, Class A common stock, Rule 10b5-1, weighted average price, +1 more
5 terms
Class B common stock financial
"Each share of the Issuer's Class B common stock (the "Class B Stock") is convertible into one share..."
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A common stock financial
"Each share of the Issuer's Class B common stock ... is convertible into one share of the Issuer's Class A common stock..."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Rule 10b5-1 regulatory
"This transaction was executed pursuant to a trading plan ... in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934..."
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
weighted average price financial
"The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions..."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
trading plan financial
"This transaction was executed pursuant to a trading plan entered into by the reporting person..."
A trading plan is a written set of rules an investor follows about what to buy or sell, when to enter and exit positions, and how much risk to accept—like a travel itinerary that maps the route, stops, and budget before a trip. It matters because it helps remove emotional decisions during market swings, enforces discipline, and makes performance easier to review and improve, reducing the chance of costly impulsive moves.
FAQ
What insider transactions did Gitlab (GTLB) report for Sytse Sijbrandij?
Gitlab reported that the Sytse Sijbrandij Revocable Trust converted 116,200 Class B shares into Class A, then sold all 116,200 Class A shares. The sales occurred on April 15, 2026 in open-market transactions at a weighted average price of $20.77 per share.
Was the Gitlab (GTLB) insider sale by Sytse Sijbrandij pre-planned?
Yes. The filing states the sale was executed under a Rule 10b5-1 trading plan entered on December 19, 2025. Such plans pre-schedule trades, indicating these transactions were arranged in advance rather than being discretionary timing decisions based on short-term market conditions.