Sundeep Bedi - Mar 27, 2024 Form 4 Insider Report for Gitlab Inc. (GTLB)

Role
Director
Signature
/s/ Robin Schulman, Attorney-in-Fact for Sundeep Bedi
Stock symbol
GTLB
Transactions as of
Mar 27, 2024
Transactions value $
-$527,770
Form type
4
Date filed
3/29/2024, 06:11 PM
Previous filing
Jun 30, 2023
Next filing
Jun 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTLB Class A Common Stock Conversion of derivative security $0 +9K +107.54% $0.00 17.4K Mar 27, 2024 Direct F1
transaction GTLB Class A Common Stock Sale -$293K -5K -28.79% $58.65 12.4K Mar 27, 2024 Direct
transaction GTLB Class A Common Stock Sale -$235K -4K -32.34% $58.63 8.37K Mar 27, 2024 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GTLB Stock Option (Right to buy Class B Common Stock) Options Exercise $0 -9K -25% $0.00 27K Mar 27, 2024 Class B Common Stock 9K $26.64 Direct F3
transaction GTLB Class B Common Stock Options Exercise +9K 9K Mar 27, 2024 Class A Common Stock 9K Direct F1
transaction GTLB Class B Common Stock Conversion of derivative security -9K -100% 0 Mar 27, 2024 Class A Common Stock 9K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of the Issuer's Class B common stock (the "Class B Stock") is convertible into one share of the Issuer's Class A common stock at any time and will convert automatically upon certain transfers and upon the earlier of (i) ten years from the date of the Issuer's initial public offering ("IPO"), (ii) the death or disability of Sytse Sijbrandij, (iii) the first date following the completion of the IPO on which the number of shares of outstanding Class B Stock (including shares of Class B Stock subject to outstanding stock options) is less than 5% of the aggregate number of shares of the Issuer's common stock then outstanding and (iv) the date specified by a vote of the holders of two-thirds of the then outstanding shares of Class B Stock.
F2 Includes shares of Class A Common Stock that have not yet vested.
F3 The option vested or vests as to 25% of the total shares on August 31, 2022, and 1/48 of the total shares monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.