Reinhart James G. 4

What Happened
James G. Reinhart, CEO of ThredUp (TDUP), had 330,649 restricted stock units (RSUs vest) converted to shares on June 1, 2026 (acquired at $0). On June 2, 2026 he sold 174,908 of those shares in open market transactions at $4.43 per share, receiving total proceeds of $775,642. The sales were reported as sell-to-cover transactions to satisfy tax withholding rather than discretionary sales.

Key Details

• Transaction dates: RSU conversion (exercise/vesting) on 2026-06-01; open-market sales on 2026-06-02. Filing date: 2026-06-03 (appears timely).
• RSUs that vested on 6/1 (converted to shares at $0): 166,666 + 111,667 + 52,316 = 330,649 shares.
• Shares sold on 6/2 (open market) at $4.43: 88,163 (≈$390,968) + 59,070 (≈$261,952) + 27,675 (≈$122,722) = 174,908 shares for ≈$775,642 total.
• Footnotes: F1 notes these sales were mandated "sell-to-cover" tax withholding (not discretionary). F2–F5 detail that each RSU equals one share and the three grants (2,000,000; 1,340,000; 627,793 RSUs) vest in equal quarterly installments — the June 1 amounts match one quarterly installment from each grant.
• Shares owned after the transactions are not specified in the provided filing details.

Context

• These were vesting-related conversions of RSUs followed by sell-to-cover sales (a common administrative action to satisfy tax obligations). This is different from an independent open-market sell for cash or portfolio rebalancing.
• For retail investors: such sell-to-cover transactions are routine and do not necessarily signal the insider’s view on company prospects.