ThredUp director granted 3,397 RSUs in stock award
Nakache Patricia reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Nakache Patricia reported acquisition or exercise transactions in this Form 4 filing.
ThredUp Inc. director Patricia Nakache received a grant of 3,397 fully vested restricted stock units representing Class A common shares under the company’s 2021 Stock Option and Incentive Plan. She elected these RSUs instead of her cash board retainer and deferred settlement until separation from board service, certain qualifying change-in-control events, or death. After this award she directly holds 343,980 Class A shares, plus 14,017 shares held indirectly through the Gordan/Nakache Family Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 3,397 shares
Grant/Award
2 txns
Insider
Nakache Patricia
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock F1 | 3,397 | $0.00 | $0.00 |
| holding | Class A Common Stock F2 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 343,980 shares (Direct);
Class A Common Stock — 14,017 shares (Indirect, By Gordan/Nakache Family Trust U/A DTD 11/30/2001)
Footnotes (2)
- F1. Grant of fully vested restricted stock units ("RSUs") under the Issuer's 2021 Stock Option and Incentive Plan in a transaction exempt under Rule 16b-3. Each RSU represents a right to receive one share of the Issuer's Class A Common Stock. The Reporting Person elected to receive RSUs in lieu of her annual cash retainer, which retainer is paid in quarterly installments. The Reporting Person elected to defer distribution until the earliest of (a) 30 days after the Reporting Person's separation from service on the Board within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A"), (b) a Sale Event (as defined in the Issuer's 2021 Stock Option and Incentive Plan) that constitutes a change in control under Section 409A, or (c) 30 days after the Reporting Person's death.
- F2. Held indirectly by Gordan/Nakache Family Trust U/A DTD 11/30/2001. The Reporting Person serves as a trustee for the trust.
Key Figures
RSUs granted: 3,397 shares
Direct holdings after grant: 343,980 shares
Indirect holdings after grant: 14,017 shares
+1 more
4 metrics
RSUs granted
3,397 shares
Fully vested restricted stock units granted to director Patricia Nakache
Direct holdings after grant
343,980 shares
Class A Common Stock directly held by Patricia Nakache following the award
Indirect holdings after grant
14,017 shares
Class A Common Stock held indirectly via Gordan/Nakache Family Trust
Equity plan year
2021
Issuer's 2021 Stock Option and Incentive Plan under which RSUs were granted
Key Terms
restricted stock units, Rule 16b-3, Section 409A, Sale Event, +1 more
5 terms
restricted stock units financial
"Grant of fully vested restricted stock units under the Issuer's 2021 Stock Option"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Rule 16b-3 regulatory
"RSUs under the Issuer's 2021 Stock Option and Incentive Plan in a transaction exempt under Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
Section 409A regulatory
"separation from service on the Board within the meaning of Section 409A of the Internal Revenue Code"
Sale Event financial
"until the earliest of a Sale Event that constitutes a change in control under Section 409A"
Family Trust U/A DTD 11/30/2001 financial
"Held indirectly by Gordan/Nakache Family Trust U/A DTD 11/30/2001. The Reporting Person serves as a trustee"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did ThredUp (TDUP) director Patricia Nakache report in this Form 4?
Patricia Nakache reported receiving 3,397 fully vested restricted stock units representing ThredUp Class A common shares. The award was granted under the 2021 Stock Option and Incentive Plan as part of her board compensation, in lieu of a cash retainer.
What are the key terms of the RSU grant reported for ThredUp (TDUP)?
The grant consists of 3,397 fully vested RSUs, each representing one ThredUp Class A share. Nakache elected RSUs in lieu of her annual cash board retainer, with distribution deferred until separation from service, a qualifying Sale Event, or death under Section 409A rules.
How is the RSU award to the ThredUp (TDUP) director treated under securities rules?
The RSU grant is described as exempt under Rule 16b-3, a provision that can exempt certain director and officer equity awards under company compensation plans. This means the award follows a board-approved plan structure recognized by securities regulations.
AI-generated analysis. How Rhea-AI works. Not financial advice.
