Underwood April 4

What Happened

• April Underwood, a director of Eventbrite (EB), had three dispositions reported on March 10, 2026 in connection with Eventbrite's merger with Bending Spoons: 156,484 shares, 1,443 shares, and 6,852 derivative units (total 164,779). These were cancelled/converted into cash under the merger terms. The common stock and RSUs were converted at $4.50 per share, producing about $741,505.50; the filing also notes cancelled options were converted into a cash payment of $4,719.10. These transactions were dispositions to the issuer (D) under the Merger Agreement, not open-market sales.

Key Details

• Transaction date(s): March 10, 2026; Form 4 filed March 12, 2026 (timely).
• Shares/units disposed: 156,484 (shares) + 1,443 (shares) + 6,852 (derivative units) = 164,779 total.
• Cash received: ~ $4.50 per share/unit for shares and RSUs (≈ $741,505.50 total); cancelled options converted to $4,719.10 per the filing; combined cash ≈ $746,224.60.
• Transaction codes: D = Disposition to issuer (merger consideration); derivative line reflects RSU/other unit conversion.
• Shares owned after transaction: not specified in the excerpt—see the full Form 4 for post-transaction holdings.
• Footnotes: F1–F3 explain the merger consideration: (F1) $4.50 per share for outstanding Class A/B stock; (F2) time‑based RSUs cancelled and paid $4.50 per underlying share; (F3) certain options were cancelled and converted to a cash amount of $4,719.10 (Black‑Scholes determined).

Context

• These were merger-related conversions/cancellations (cash-out) rather than voluntary open‑market sales—common in takeovers and typically routine. RSUs and certain options were cancelled for cash under the Merger Agreement rather than being exercised or transferred.
• No implication about insider sentiment should be drawn from routine merger consideration payments; purchases are generally more informative about insider bullishness.