Udemy, Inc. — Director's Dealing 2021

Nov 3, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Udemy, Inc. (UDMY)
CIK: 0001607939
Period of Report: 2021-11-02

Reporting Person: Norwest Venture Partners XII, LP (10% Owner)
Reporting Person: NVP Associates, LLC (10% Owner)
Reporting Person: Kossow Jon Erik (10% Owner)
Reporting Person: HAQUE PROMOD (10% Owner)
Reporting Person: Crowe Jeffrey (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-02	Common Stock	C	11552940	—	Acquired	12458934	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-11-02	Series C Convertible Preferred Stock	$	C	10134082	Disposed		Common Stock (10134082)	Indirect
2021-11-02	Series D Convertible Preferred Stock	$	C	1418858	Disposed		Common Stock (1418858)	Indirect

Footnotes

F1: Each share of Series C Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.

F2: Each share of Series D Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.

F3: The shares are held of record by Norwest Venture Partners XII, LP. Genesis VC Partners XII, LLC is the general partner of Norwest Venture Partners XII, LP, and NVP Associates, LLC is the managing member of Genesis VC Partners XII, LLC. Each of Promod Haque, Jeffrey Crowe, and Jon Kossow, who are co-chief executive officers of NVP Associates, LLC, may be deemed to share voting and dispositive power over the shares held by Norwest Venture Partners XII, LP. Each of the reporting entities and individuals disclaims beneficial ownership of the reported securities except to the extent of its or his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.