Udemy delists Common Stock from Nasdaq via Form 25

Udemy, Inc. notifies that its Common Stock has been removed from listing and/or registration on the Nasdaq Stock Market LLC under Section 12(b) via Form 25.

Accepted by SEC EDGAR 05/11/2026 - 10:26 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Udemy, Inc. notifies that its Common Stock has been removed from listing and/or registration on the Nasdaq Stock Market LLC under Section 12(b) via Form 25. The notification is executed by the Exchange, which certifies compliance with the Exchange rules and 17 CFR 240.12d2-2.

Key Figures

Commission File Number: 001-40956 Expiration date: March 31, 2018 Exchange: Nasdaq Stock Market LLC

3 metrics

Commission File Number 001-40956 Form 25 cover

Expiration date March 31, 2018 form header expiration note

Exchange Nasdaq Stock Market LLC listed exchange for the class being withdrawn

Key Terms

Form 25, Section 12(b), 17 CFR 240.12d2-2

3 terms

Form 25 regulatory

"FORM 25 NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION"

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

Section 12(b) regulatory

"REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT"

Section 12(b) of the U.S. Securities Exchange Act requires securities listed on a national stock exchange to be registered with the U.S. Securities and Exchange Commission (SEC) and to follow regular public reporting and disclosure rules. For investors, a 12(b) listing generally means more routine financial updates, regulatory oversight and easier buying and selling—like a storefront that must display its inventory and prices, making it simpler to inspect and trade the product.

17 CFR 240.12d2-2 regulatory

"Pursuant to 17 CFR 240.12d2-2(a)(1) ... (c)"

A U.S. Securities and Exchange Commission rule that describes the conditions and procedural steps for a security to be removed from public registration or reporting under the Securities Exchange Act of 1934. For investors, it matters because it explains when a company’s shares can stop being subject to regular disclosure and exchange listing rules — similar to knowing when a publicly tracked product will be discontinued and no longer send updates, which affects transparency and liquidity.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Why did Udemy (UDMY) file Form 25 to delist its common stock?

Form 25 notifies the removal of a class of securities from an exchange; it does not itself explain the issuer's business reasons. The filing certifies the exchange complied with 17 CFR 240.12d2-2 and that the issuer followed exchange rules for voluntary withdrawal.

Does Form 25 mean Udemy shares are no longer tradable?

Form 25 indicates removal from Nasdaq listing/registration, but it does not state trading cessation. Secondary trading status or transfer to another market is not specified in this excerpt; subsequent filings would detail where or whether shares remain tradable.

Who signed the Form 25 filing for the Nasdaq action on Udemy?

The Form 25 excerpt shows the notification was signed on behalf of Nasdaq Stock Market LLC by Tara Petta, AVP. The exchange certifies it has reasonable grounds to file the Form 25 under the cited rules.

What regulatory citations are referenced in Udemy's Form 25?

The filing cites Section 12(b) of the Securities Exchange Act of 1934 and implementing rules 17 CFR 240.12d2-2(a) through (d). These rules govern withdrawal of a class of securities from listing and registration.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

OMB APPROVAL

OMB Number:			3235-0080
Expires:	March 31, 2018
Estimated average burden
hours per response:			1.7

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-40956

Issuer:	Udemy, Inc.
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	600 Harrison Street, 3rd Floor
	San Francisco	CALIFORNIA	94107
Telephone number:					650 444 8631

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

common stock

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2026-05-11	By	Tara Petta		AVP
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.