Padisetty Sivaprasad 4

What Happened Padisetty Sivaprasad, Chief Technology Officer of GitLab Inc. (GTLB), received a grant of 460,014 restricted stock units (RSUs) reported on Form 4 for a transaction dated March 11, 2026. The reported acquisition price is $0.00 (award), meaning there was no cash purchase; each RSU is a contingent right to receive one share of Class A common stock upon vesting.

Key Details

• Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (timely filing).
• Transaction type/code: Award/Grant (A).
• Reported amount: 460,014 RSUs @ $0.00; immediate reported value $0.
• Shares owned after transaction: not specified in the provided filing data.
• Footnote highlights:
  • F1: These are time-based RSUs that convert to shares only if Sivaprasad remains in service on each vesting date.
  • F2: The reported units include Class A shares that have not yet vested.
• No indication of a 10b5-1 plan, cashless exercise, gift, or tax-withholding sale in the disclosed information.

Context Time-based RSUs are compensation/retention awards, not open-market purchases—benefits are realized only as units vest and convert to actual shares. Vesting follows a four-year schedule (summary):

• 18% of the total vests on Sept 15, 2026;
• 9% vests on Dec 15, 2026 and Mar 15, 2027;
• 7.5% vests quarterly from June 15, 2027 through March 15, 2028;
• 4.25% vests quarterly from June 15, 2028 through March 15, 2030. "Quarterly Vesting Dates" are Mar 15, Jun 15, Sep 15, Dec 15. This grant increases potential future dilution if all RSUs vest, but does not involve an immediate cash transaction or sale of existing shares.