ThredUp (TDUP) CEO James Reinhart Sells Shares

What Happened

• James G. Reinhart, CEO of ThredUp (TDUP), had RSUs vest and converted to common stock on 2026-09-01 (330,649 shares acquired at $0.00). A portion of those shares — 171,062 shares — were sold on 2026-09-02 in open market/private sales at $2.58 per share for total proceeds of $441,546. The disposals were sell-to-cover transactions to satisfy tax withholding obligations, not discretionary market sales.

Key Details

• Transaction dates/prices:
  • 2026-09-01: Conversion/exercise of RSUs (derivative conversion) — 330,649 shares acquired at $0.00.
  • 2026-09-02: Open market/private sales — 86,223; 57,771; and 27,068 shares sold at $2.58 each (total 171,062 shares; proceeds $441,546).
• Net change from these events: +159,587 shares (330,649 acquired minus 171,062 sold). The filing does not state total shares owned after the transactions.
• Notable footnotes:
  • F1: The sales were mandatory "sell-to-cover" transactions to satisfy tax withholding required by the issuer — not discretionary trades by the CEO.
  • F2–F5: RSUs convert 1-for-1 into Class A shares; grants were made Feb 26, 2024; Jan 9, 2025; and Jan 28, 2026 with quarterly vesting schedules.
• Filing timeliness: Reported period 2026-09-01 and filed 2026-09-02; no late filing flag indicated.

Context

• These were derivative conversions of RSUs (no cash exercise price) followed by immediate sell-to-cover sales to satisfy taxes — a common administrative step when equity awards vest. Such sell-to-cover transactions typically reflect tax obligations rather than a directional bet on the stock.