Padisetty Sivaprasad 4

What Happened

• Padisetty Sivaprasad, Chief Technology Officer of GitLab, was granted 234,631 performance stock units (PSUs) on April 29, 2026. The award is recorded at $0.00 per unit (derivative grant) and therefore has no immediate cash cost to the reporting person.
• These PSUs are not a market purchase or sale; they are a compensation award that can convert into Class A common shares only if specified performance criteria are met and the reporting person remains in service.

Key Details

• Transaction date: 2026-04-29; filing date: 2026-04-30. Price recorded: $0.00 (derivative award).
• Amount: 234,631 PSUs (reported as the number of target-level shares to be received assuming achievement of performance metrics).
• Shares owned after transaction: not disclosed in this filing.
• Footnotes: (1) Each PSU represents a contingent right to one share if performance and service conditions are met; (2) the reported PSU count reflects the "target" achievement level; (3) PSUs vest in tranches upon certification of performance for each tranche; (4) unachieved portions expire.
• No 10b5-1 plan, tax-withholding sale, or late filing is indicated in this Form 4.

Context

• PSUs are performance-contingent equity awards—value is realized only if the company meets board-set performance metrics and the executive remains employed through vesting certification. They differ from open-market purchases or immediate sales and should be viewed as compensation rather than an instantaneous insider bet on the stock.