0001209191-23-003356.txt : 20230113
0001209191-23-003356.hdr.sgml : 20230113
20230113185221
ACCESSION NUMBER: 0001209191-23-003356
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230112
FILED AS OF DATE: 20230113
DATE AS OF CHANGE: 20230113
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Nash Shannon
CENTRAL INDEX KEY: 0001888032
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-41049
FILM NUMBER: 23529901
MAIL ADDRESS:
STREET 1: C/O USERTESTING, INC.
STREET 2: 144 TOWNSEND STREET
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94107
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: UserTesting, Inc.
CENTRAL INDEX KEY: 0001557127
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372]
IRS NUMBER: 260339214
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 144 TOWNSEND STREET
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94107
BUSINESS PHONE: (650) 567-5616
MAIL ADDRESS:
STREET 1: 144 TOWNSEND STREET
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94107
FORMER COMPANY:
FORMER CONFORMED NAME: User Testing, Inc.
DATE OF NAME CHANGE: 20120828
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2023-01-12
1
0001557127
UserTesting, Inc.
USER
0001888032
Nash Shannon
144 TOWNSEND STREET
SAN FRANCISCO
CA
94107
1
0
0
0
Common Stock
2023-01-12
4
D
0
17210
D
0
D
Stock Option (right to buy)
3.39
2023-01-12
4
D
0
65000
D
2031-03-09
Common Stock
65000
0
D
Restricted Stock Units
2023-01-12
4
D
0
17209
D
Common Stock
17209
0
D
On October 26, 2022, UserTesting, Inc., a Delaware corporation (the "Issuer" or the "Company") entered into the Agreement and Plan of Merger (the "Merger Agreement"), with Thunder Holdings, LLC, a Delaware limited liability company ("Parent"), and Thunder Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"). Pursuant to the Merger Agreement, Merger Sub merged with and into the Company (such merger and the other transactions contemplated by the Merger Agreement, the "Merger") with the Company surviving the Merger as a wholly owned subsidiary of Parent. Upon the closing (the "Closing") of the Merger on January 12, 2023, each share of the Company's Common Stock, par value $0.0001 per share ("Common Stock"), was cancelled and automatically converted into the right to receive an amount in cash, without interest, equal to $7.50 (the "Merger Consideration"), less any applicable withholding taxes.
The option vests as to 1/36th of the total shares monthly, beginning March 10, 2021, subject to the Reporting Holder's continued service to the Issuer on each vesting date.
Pursuant to the Merger Agreement, each option (an "Option") to purchase shares of Common Stock that was vested and outstanding immediately prior to the Closing (a "Vested Option"), was automatically cancelled and converted into the right to receive an amount in cash, without interest, equal to the product obtained by multiplying (x) the excess, if any, of (i) Merger Consideration over (ii) the per share exercise price for such Vested Option by (y) the total number of shares of Common Stock underlying such Vested Option, subject to applicable withholding taxes. Pursuant to the Stock Option Agreement granted on March 10, 2021, by and between the Company and Ms. Nash, the Unvested Options fully vested and accelerated and are considered Vested Options.
Each Restricted Stock Unit ("RSU") represents a contingent right to receive one (1) share of the Issuer's Common Stock upon settlement for no consideration.
The RSUs shall vest as to 25% of the total shares quarterly, commencing August 15, 2022, with the remainder of shares vesting on each subsequent November 15, 2022, February 15, 2023, and May 15, 2023, subject to the Reporting Person's continued service to the Issuer on each vesting date.
Pursuant to the Merger Agreement, each RSU (whether vested or unvested) held by a non-employee member of the Company's board of directors is considered a vested RSU (a "Vested RSU") and was automatically cancelled and converted into the right to receive an amount in cash, without interest, equal to the product obtained by multiplying (x) the total number of shares of Common Stock underlying such Vested RSU by (y) the Merger Consideration, subject to applicable withholding taxes.
/s/ Mona Sabet as attorney-in-fact for Shannon Nash
2023-01-13