# EDGAR Filing Document

**Accession Number:** 0001484778
**File Stem:** 0001209191-23-018188
**Filing Date:** 2023-3
**Character Count:** 17138
**Document Hash:** 0842a02067b66617c65c9d689d2780d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209191-23-018188.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001209191-23-018188

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230309

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** CHOPRA AJAY
- **CENTRAL INDEX KEY:** 0001228023

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40249
- **FILM NUMBER:** 23727709

**MAIL ADDRESS:**
- **STREET 1:** 3000 SAND HILL ROAD
- **STREET 2:** BUILDING 4, SUITE 160
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Fenton Noel J
- **CENTRAL INDEX KEY:** 0001290449

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40249
- **FILM NUMBER:** 23727708

**MAIL ADDRESS:**
- **STREET 1:** C/O TRINITY VENTURES
- **STREET 2:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** TRINITY VENTURES X LP
- **CENTRAL INDEX KEY:** 0001456065
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40249
- **FILM NUMBER:** 23727712

**BUSINESS ADDRESS:**
- **STREET 1:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
- **BUSINESS PHONE:** 650-854-9500

**MAIL ADDRESS:**
- **STREET 1:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Trinity X Side-By-Side Fund, L.P.
- **CENTRAL INDEX KEY:** 0001459208
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40249
- **FILM NUMBER:** 23727710

**BUSINESS ADDRESS:**
- **STREET 1:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
- **BUSINESS PHONE:** 6508549500

**MAIL ADDRESS:**
- **STREET 1:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Trinity TVL X, LLC
- **CENTRAL INDEX KEY:** 0001461710
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40249
- **FILM NUMBER:** 23727713

**BUSINESS ADDRESS:**
- **STREET 1:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
- **BUSINESS PHONE:** (650) 854-9500

**MAIL ADDRESS:**
- **STREET 1:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Trinity X Entrepreneurs' Fund, L.P.
- **CENTRAL INDEX KEY:** 0001461716
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40249
- **FILM NUMBER:** 23727711

**BUSINESS ADDRESS:**
- **STREET 1:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
- **BUSINESS PHONE:** (650) 854-9500

**MAIL ADDRESS:**
- **STREET 1:** 325 SHARON PARK DR., #458
- **CITY:** MENLO PARK
- **STATE:** CA
- **ZIP:** 94025
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ThredUp Inc.
- **CENTRAL INDEX KEY:** 0001484778
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
- **IRS NUMBER:** 264009181
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 969 BROADWAY
- **STREET 2:** SUITE 200
- **CITY:** OAKLAND
- **STATE:** CA
- **ZIP:** 94607
- **BUSINESS PHONE:** 415-402-5202

**MAIL ADDRESS:**
- **STREET 1:** 969 BROADWAY
- **STREET 2:** SUITE 200
- **CITY:** OAKLAND
- **STATE:** CA
- **ZIP:** 94607

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** thredUP
- **DATE OF NAME CHANGE:** 20100222

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Trinity TVL X, LLC<br><sub>(Last) (First) (Middle)</sub><br>325 SHARON PARK DR., #458<br><sub>(Street)</sub><br>MENLO PARK, CA 94025<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ThredUp Inc. [ TDUP ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>TRINITY VENTURES X LP<br><sub>(Last) (First) (Middle)</sub><br>325 SHARON PARK DR., #458<br><sub>(Street)</sub><br>MENLO PARK, CA 94025<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ThredUp Inc. [ TDUP ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Trinity X Entrepreneurs' Fund, L.P.<br><sub>(Last) (First) (Middle)</sub><br>325 SHARON PARK DR., #458<br><sub>(Street)</sub><br>MENLO PARK, CA 94025<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ThredUp Inc. [ TDUP ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Trinity X Side-By-Side Fund, L.P.<br><sub>(Last) (First) (Middle)</sub><br>325 SHARON PARK DR., #458<br><sub>(Street)</sub><br>MENLO PARK, CA 94025<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ThredUp Inc. [ TDUP ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>CHOPRA AJAY<br><sub>(Last) (First) (Middle)</sub><br>C/O TRINITY VENTURES<br>325 SHARON PARK DR., #458<br><sub>(Street)</sub><br>MENLO PARK, CA 94025<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ThredUp Inc. [ TDUP ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Fenton Noel J<br><sub>(Last) (First) (Middle)</sub><br>C/O TRINITY VENTURES<br>325 SHARON PARK DR., #458<br><sub>(Street)</sub><br>MENLO PARK, CA 94025<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ThredUp Inc. [ TDUP ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2023-03-09 |  | C |  | 293859 | A | 0.00<sup>(1)</sup> | 293859 | I | By Trinity Ventures X, L.P.<sup>(2)</sup> |
| Class A Common Stock | 2023-03-09 |  | C |  | 2909 | A | 0.00<sup>(1)</sup> | 2909 | I | By Trinity X Entrepreneurs' Fund, L.P.<sup>(2)</sup> |
| Class A Common Stock | 2023-03-09 |  | C |  | 1624 | A | 0.00<sup>(1)</sup> | 1624 | I | By Trinity X Side-By-Side Fund, L.P.<sup>(2)</sup> |
| Class A Common Stock | 2023-03-09 |  | S |  | 293859 | D | 2.42<sup>(3)</sup> | 0 | I | By Trinity Ventures X, L.P.<sup>(2)</sup> |
| Class A Common Stock | 2023-03-09 |  | S |  | 2909 | D | 2.42<sup>(3)</sup> | 0 | I | By Trinity X Entrepreneurs' Fund, L.P.<sup>(2)</sup> |
| Class A Common Stock | 2023-03-09 |  | S |  | 1624 | D | 2.42<sup>(3)</sup> | 0 | I | By Trinity X Side-By-Side Fund, L.P.<sup>(2)</sup> |
| Class A Common Stock |  |  |  |  |  |  |  | 47 | D<sup>(4)</sup> |  |
| Class A Common Stock |  |  |  |  |  |  |  | 957 | D<sup>(5)</sup> |  |
| Class A Common Stock |  |  |  |  |  |  |  | 1031 | D<sup>(6)</sup> |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Class B Common Stock | <sup>(1)</sup> | 2023-03-09 |  | C |  |  | 293859 | <sup>(7)</sup> | <sup>(7)</sup> | Class A Common Stock | 293859 | 0.00<sup>(7)</sup> | 8738565 | I | By Trinity Ventures X, L.P.<sup>(2)</sup> |
| Class B Common Stock | <sup>(1)</sup> | 2023-03-09 |  | C |  |  | 2909 | <sup>(7)</sup> | <sup>(7)</sup> | Class A Common Stock | 2909 | 0.00<sup>(7)</sup> | 86515 | I | By Trinity X Entrepreneurs' Fund, L.P.<sup>(2)</sup> |
| Class B Common Stock | <sup>(1)</sup> | 2023-03-09 |  | C |  |  | 1624 | <sup>(7)</sup> | <sup>(7)</sup> | Class A Common Stock | 1624 | 0.00<sup>(7)</sup> | 48294 | I | By Trinity X Side-By-Side Fund, L.P.<sup>(2)</sup> |

---

### Footnotes:

(1) Each share of Class B Common Stock was converted into one share of Class A Common Stock for no additional consideration.

(2) Trinity TVL X, LLC is the General Partner of Trinity Ventures X, L.P., Trinity X Entrepreneurs Fund, L.P. and Trinity X Side-By-Side Fund, L.P. (collectively, the "Trinity Funds"), and the Management Members of Trinity TVL X, LLC share voting and dispositive power over the shares held by each of the Trinity Funds. The Management Members of Trinity TVL X, LLC are Ajay Chopra, Noel Fenton and Patricia Nakache. Each of Trinity TVL X, LLC, Mr. Chopra and Mr. Fenton disclaims beneficial ownership of the shares reported herein except to the extent of its or his respective pecuniary interest therein. Ms. Nakache is a director of the Issuer and files separate Section 16 reports.

(3) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.40 to $2.51 inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

(4) Shares are directly held by TVL Management Corp ("TVL Corp"). Each of Ajay Chopra, Noel Fenton and Patricia Nakache is an executive officer and director of TVL Corp and shares voting and dispositive power over the shares held by TVL Corp. Each of Mr. Chopra and Mr. Fenton disclaims beneficial ownership of the shares reported herein except to the extent of his respective pecuniary interest therein. Ms. Nakache is a director of the Issuer and files separate Section 16 reports.

(5) Shares are directly held by Ajay Chopra. These shares were received by the Reporting Person in a distribution in kind that constituted a change in form of ownership and, therefore, was not required to be reported pursuant to Section 16.

(6) Shares are directly held by Noel J. Fenton. These shares were received by the Reporting Person in a distribution in kind that constituted a change in form of ownership and, therefore, was not required to be reported pursuant to Section 16.

(7) Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and upon the occurrence of other events set forth in the Issuer's Certificate of Incorporation.

**Signature:** Trinity TVL X, LLC By /s/ Lyle McCulloch, SVP Finance  
**Date:** 2023-03-13

**Signature:** Trinity Ventures X, L.P., By: Trinity TVL X, LLC, its General Partner, By /s/ Lyle McCulloch, SVP Finance  
**Date:** 2023-03-13

**Signature:** Trinity X Entrepreneurs' Fund, L.P., By: Trinity TVL X, LLC, its General Partner, By /s/ Lyle McCulloch, SVP Finance  
**Date:** 2023-03-13

**Signature:** Trinity X Side-By-Side Fund, L.P., By: Trinity TVL X, LLC, its General Partner, By /s/ Lyle McCulloch, SVP Finance  
**Date:** 2023-03-13

**Signature:** /s/ Ajay Chopra  
**Date:** 2023-03-13

**Signature:** /s/ Noel J. Fenton  
**Date:** 2023-03-13

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**