GitLab director sells shares after Class B conversion
GitLab Inc. director Sytse Sijbrandij, through the Sytse Sijbrandij Revocable Trust, converted 15,134,451 shares of Class B common stock into the same number of Class A shares.
Rhea-AI Filing Summary
GitLab Inc. director Sytse Sijbrandij, through the Sytse Sijbrandij Revocable Trust, converted 15,134,451 shares of Class B common stock into the same number of Class A shares. Following this conversion, the trust sold a total of 116,200 Class A shares in open-market transactions at weighted average prices around the mid‑$20s per share. The sales were executed under a pre-arranged Rule 10b5-1 trading plan, indicating they were scheduled in advance. After these transactions, the filing shows the trust continuing to hold over 15 million GitLab Class A shares, so Sijbrandij remains a very large indirect shareholder.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
4 txns
Insider
Sijbrandij Sytse
Role
Director
Sold
116,200 shs ($2.89M)
Approx. gross sale proceeds
$2.89M
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 10,792 | $24.09 | $260K |
| Sale | Class A Common Stock | 105,408 | $24.93 | $2.63M |
| Conversion | Class B Common Stock | 15,134,451 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 15,134,451 | $0.00 | $0.00 |
Holdings After Transaction:
Class B Common Stock — 0 contracts (Indirect, By Trust);
Class A Common Stock — 15,018,251 shares (Indirect, By Trust)
Footnotes (6)
- F1. These securities are held by the Sytse Sijbrandij Revocable Trust dated February 21, 2019, of which the Reporting Person is the sole trustee.
- F2. 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.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.52 to $24.50, 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 3 and footnote 4.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.52 to $25.21, inclusive.
- F5. 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.
- F6. The conversion was undertaken by the Reporting person for personal tax planning matters and was not the result of any disagreement with the Company. This conversion was not made in connection with the purchase or sale of any shares.
Key Figures
Class B to Class A conversion: 15,134,451 shares
Total shares sold: 116,200 shares
First sale block: 105,408 shares at $24.93
+1 more
4 metrics
Class B to Class A conversion
15,134,451 shares
Class B common stock converted into Class A common stock
Total shares sold
116,200 shares
Net Class A shares sold in open-market transactions
First sale block
105,408 shares at $24.93
Weighted average price; multiple trades from $24.52 to $25.21
Second sale block
10,792 shares at $24.09
Weighted average price; multiple trades from $23.52 to $24.50
Key Terms
Rule 10b5-1, weighted average price, Revocable Trust, Class B common stock, +1 more
5 terms
Rule 10b5-1 regulatory
"entered into by the reporting person ... 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.
Revocable Trust financial
"These securities are held by the Sytse Sijbrandij Revocable Trust dated February 21, 2019"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
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.
conversion of derivative security financial
"transaction_code_description": "Conversion of derivative security""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did GitLab (GTLB) report for Sytse Sijbrandij?
GitLab reported that a trust associated with director Sytse Sijbrandij converted 15,134,451 Class B shares into Class A and then sold 116,200 Class A shares in open-market trades. All shares are held indirectly through the Sytse Sijbrandij Revocable Trust.
AI-generated analysis. How Rhea-AI works. Not financial advice.
