Udemy (UDMY): Goldman Sachs Group files update showing no beneficial ownership

Rhea-AI Filing Summary

Udemy, Inc. received an updated ownership report from The Goldman Sachs Group, Inc. and its subsidiary Goldman Sachs & Co. LLC regarding Udemy common stock. Both entities report 0 shares beneficially owned, with 0.0% of the class, and no sole or shared voting or dispositive power over any Udemy common stock.

The filing states that Goldman Sachs & Co. LLC, a registered broker-dealer and investment adviser, is a subsidiary of The Goldman Sachs Group, Inc., which is reporting as a parent holding company. The Goldman Sachs reporting units also disclaim beneficial ownership of securities held for client accounts or certain investment entities, except to the extent of any economic interest they may have. A Joint Filing Agreement authorizes the parties to file this and any amendments together.

Key Figures

Beneficial ownership: 0 shares Percent of class: 0.0 % Sole voting power: 0.00 shares +3 more

6 metrics

Beneficial ownership 0 shares Udemy common stock reported by The Goldman Sachs Group, Inc.

Percent of class 0.0 % Udemy common stock held by Goldman Sachs entities

Sole voting power 0.00 shares Voting power over Udemy common stock

Shared voting power 0.00 shares Shared voting power over Udemy common stock

Sole dispositive power 0.00 shares Power to dispose of Udemy common stock

Shared dispositive power 0.00 shares Shared power to dispose of Udemy common stock

Key Terms

beneficial ownership, dispositive power, parent holding company, Joint Filing Agreement, +1 more

5 terms

beneficial ownership financial

"This filing reflects the securities beneficially owned by certain operating units"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

dispositive power financial

"Sole Dispositive Power 0.00 Shared Dispositive Power 0.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

parent holding company financial

"The securities being reported on by The Goldman Sachs Group, Inc. ("GS Group"), as a parent holding company"

Joint Filing Agreement regulatory

"EXHIBIT (99.1) JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1)"

investment adviser registered under Section 203 regulatory

"an investment adviser registered under Section 203 of the Investment Advisers Act of 1940"

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FAQ

What does Goldman Sachs report about its ownership of UDMY common stock?

The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC report 0 shares beneficially owned of Udemy common stock, representing 0.0% of the class, with no sole or shared voting or dispositive power.

Who are the reporting persons in this UDMY Schedule 13G/A?

The reporting persons are The Goldman Sachs Group, Inc., a Delaware parent holding company, and its subsidiary Goldman Sachs & Co. LLC, a New York broker-dealer and registered investment adviser located at 200 West Street, New York, NY 10282.

What voting and dispositive power does Goldman Sachs have over UDMY shares?

The report shows 0.00 shares with sole voting power, 0.00 shares with shared voting power, and 0.00 shares with sole or shared dispositive power, indicating no reported control over any Udemy common stock.

What percentage of Udemy (UDMY) stock is reported as owned by Goldman Sachs?

The filing lists Goldman Sachs’ beneficial ownership of Udemy common stock as 0.0% of the class. This is disclosed under the percent-of-class item tied to the reported beneficial ownership and voting/dispositive powers.

What is the role of Goldman Sachs & Co. LLC in relation to UDMY securities?

Goldman Sachs & Co. LLC is identified as a broker or dealer registered under Section 15 and an investment adviser under the Investment Advisers Act, and is the subsidiary through which The Goldman Sachs Group, Inc. may be deemed to have held Udemy securities.

How does Goldman Sachs treat client and fund holdings of UDMY shares?

The Goldman Sachs reporting units disclaim beneficial ownership of Udemy securities held in client accounts or certain investment entities they manage, except to the extent of any economic interest they may hold in those entities.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

UDEMY, INC.

(Name of Issuer)

Common Stock, $0.00001 par value

(Title of Class of Securities)

902685106

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 902685106

1

Names of Reporting Persons

THE GOLDMAN SACHS GROUP, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP Number(s): 902685106

1

Names of Reporting Persons

GOLDMAN SACHS & CO. LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

BD, OO, IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: UDEMY, INC.
(b)	Address of issuer's principal executive offices: 600 Harrison Street, 3rd Floor, San Francisco, X1, 94107
Item 2.
(a)	Name of person filing: THE GOLDMAN SACHS GROUP, INC.| GOLDMAN SACHS & CO. LLC
(b)	Address or principal business office or, if none, residence: The Goldman Sachs Group, Inc. 200 West Street New York, NY 10282| Goldman Sachs & Co. LLC 200 West Street New York, NY 10282
(c)	Citizenship: THE GOLDMAN SACHS GROUP, INC. - Delaware| GOLDMAN SACHS & CO. LLC - New York
(d)	Title of class of securities: Common Stock, $0.00001 par value
(e)	CUSIP No.: 902685106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: See the response(s)to Item 11 on the attached cover page(s).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit (99.2)
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

THE GOLDMAN SACHS GROUP, INC.

Signature:	Name: Veronica Mupazviriwo
Name/Title:	Attorney-in-fact
Date:	07/17/2026

GOLDMAN SACHS & CO. LLC

Signature:	Name: Veronica Mupazviriwo
Name/Title:	Attorney-in-fact
Date:	07/17/2026

Exhibit Information

EXHIBIT (99.1) JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, the undersigned agree to the joint filing of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Common Stock, $0.00001 par value, of UDEMY, INC. and further agree to the filing of this agreement as an Exhibit thereto. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Statement on Schedule 13G. Date: 07/17/2026 THE GOLDMAN SACHS GROUP, INC. By:/s/ Veronica Mupazviriwo ---------------------------------------- Name: Veronica Mupazviriwo Title: Attorney-in-fact GOLDMAN SACHS & CO. LLC By:/s/ Veronica Mupazviriwo ---------------------------------------- Name: Veronica Mupazviriwo Title: Attorney-in-fact EXHIBIT (99.2) ITEM 7 INFORMATION The securities being reported on by The Goldman Sachs Group, Inc. ("GS Group"), as a parent holding company, are owned, or may be deemed to be beneficially owned, by Goldman Sachs & Co. LLC ("Goldman Sachs"), a broker or dealer registered under Section 15 of the Act and an investment adviser registered under Section 203 of the Investment Advisers Act of 1940. Goldman Sachs is a subsidiary of GS Group. "EXHIBIT (99.3) ITEM 4 INFORMATION *In accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the ""Release""), this filing reflects the securities beneficially owned by certain operating units (collectively, the ""Goldman Sachs Reporting Units"") of The Goldman Sachs Group, Inc. and its subsidiaries and affiliates (collectively, ""GSG""). This filing does not reflect securities, if any, beneficially owned by any operating units of GSG whose ownership of securities is disaggregated from that of the Goldman Sachs Reporting Units in accordance with the Release. The Goldman Sachs Reporting Units disclaim beneficial ownership of the securities beneficially owned by (i) any client accounts with respect to which the Goldman Sachs Reporting Units or their employees have voting or investment discretion or both, or with respect to which there are limits on their voting or investment authority or both and (ii) certain investment entities of which the Goldman Sachs Reporting Units act as the general partner, managing general partner or other manager, to the extent interests in such entities are held by persons other than the Goldman Sachs Reporting Units."