GitLab director converts 12,500 Class B shares
Gitlab Inc. (GTLB) reported that director Godfrey Sullivan converted 12,500 shares of Class B common stock into 12,500 shares of Class A common stock on 2026-08-21.
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Form Type
4
Rhea-AI Filing Summary
Gitlab Inc. (GTLB) reported that director Godfrey Sullivan converted 12,500 shares of Class B common stock into 12,500 shares of Class A common stock on 2026-08-21. This was an automatic conversion under Gitlab’s charter, with no discretionary action by Sullivan. Following the conversion, Sullivan directly holds 154,874 shares of Class A common stock, which includes shares that have not yet vested.
Insider Trade Summary
12,500 shares exercised/converted
Exercise
2 txns
Insider
SULLIVAN GODFREY
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock F1 | 12,500 | -- | -- |
| Conversion | Class A Common Stock F1, F2 | 12,500 | $0.00 | $0.00 |
Holdings After Transaction:
Class B Common Stock — 0 contracts (Direct);
Class A Common Stock — 154,874 shares (Direct)
Footnotes (2)
- F1. 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 Sytse Sijbrandij, (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.
- F2. Includes shares of Class A Common Stock that have not yet vested.
Key Figures
Class B shares converted: 12,500 shares
Class A shares received: 12,500 shares
Class A shares held after transaction: 154,874 shares
+4 more
7 metrics
Class B shares converted
12,500 shares
Class B common stock converted into Class A on 2026-08-21
Class A shares received
12,500 shares
Class A common stock received from Class B conversion on 2026-08-21
Class A shares held after transaction
154,874 shares
Direct Class A common stock holdings of Godfrey Sullivan after conversion, including unvested shares
Conversion or exercise price
$0.0000 per share
Conversion of Class B common stock to Class A common stock
Conversion ratio
1 share of Class B into 1 share of Class A
Footnote describing Class B common stock convertibility
Automatic conversion threshold
5% of common stock
Automatic Class B conversion when outstanding Class B falls below 5% of total common stock
Automatic conversion time limit
10 years from IPO
One of the automatic Class B to Class A conversion triggers
Key Terms
Class B common stock, Class A common stock, conversion of derivative security, initial public offering, +1 more
5 terms
Class B common stock financial
"Each share of the Issuer's Class B common stock (the "Class B Stock") is"
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
"convertible into one share of the Issuer's Class A common stock at any"
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.
conversion of derivative security financial
"transaction_code_description": "Conversion of derivative security""
initial public offering financial
"earlier of (i) ten years from the date of the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did GTLB director Godfrey Sullivan report?
Godfrey Sullivan reported an automatic conversion of 12,500 shares of Gitlab Inc. Class B common stock into 12,500 shares of Class A common stock on 2026-08-21, classified as a conversion of a derivative security rather than a market purchase or sale.
Did the Gitlab (GTLB) Class B to Class A conversion involve a cash price?
No cash price was involved. The Form 4 reports a $0.0000 conversion or exercise price for the Class B shares and a $0.0000 transaction price per share for the resulting Class A shares, reflecting an automatic one-for-one conversion under Gitlab’s charter.
What is the conversion ratio between Gitlab (GTLB) Class B and Class A stock?
Each share of Gitlab’s Class B common stock is convertible into one share of Class A common stock. The footnote states that Class B shares convert one-for-one into Class A and may convert automatically upon certain transfers or specified charter-triggered events.
Was the Gitlab (GTLB) insider conversion done under a Rule 10b5-1 trading plan?
No. The Form 4 indicates the Rule 10b5-1 checkbox is not checked, and the remarks explain the transaction was an automatic conversion under Gitlab’s charter, not a discretionary trade under a trading plan.
Under what conditions can Gitlab (GTLB) Class B stock automatically convert to Class A?
Class B common stock automatically converts to Class A upon certain events, including the earlier of 10 years from Gitlab’s IPO, the death or disability of Sytse Sijbrandij, when Class B falls below 5% of total common stock, or a two-thirds Class B holder vote.
AI-generated analysis. How Rhea-AI works. Not financial advice.
