Udemy, Inc. — Director's Dealing 2021

Oct 29, 2021

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Udemy, Inc. (UDMY)
CIK: 0001607939
Period of Report: 2021-10-28

Reporting Person: Brown Gregory Scott (President, Udemy Business)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$11.13	2030-11-22	Common Stock (750000)		Direct
Employee Stock Option (right to buy)	$11.13	2030-11-22	Common Stock (350000)		Direct

Footnotes

F1: The shares underlying this option vest as follows: one-fourth of the shares will vest on November 2, 2021 and the remaining shares will vest monthly in equal installments thereafter.

F2: The shares underlying this option will vest upon the achievement of certain performance-based conditions as follows: (i) 50% of the shares will vest when the Company achieves $230 million in annual recurring revenue ("ARR") in enterprise revenue and (ii) 50% of the shares will vest when the Company achieves $330 million in ARR in enterprise revenue.