Udemy, Inc. filings document the company’s transition from a Nasdaq-listed online learning platform to a wholly owned subsidiary of Coursera after the completed merger. The record includes Form 8-K disclosure of the merger closing, termination of a secured revolving credit facility, and related capital-structure changes, as well as a Form 25 notification covering removal of Udemy common stock from Nasdaq listing and Section 12(b) registration.
Earlier filings cover operating and financial results, material agreements, shareholder voting matters, governance, risk factors, and capital-structure disclosures for Udemy’s enterprise and consumer learning businesses.
Udemy, Inc. director and 10% owner Jeffrey Lieberman reported disposing all of his reported Udemy common stock back to the company. On May 11, 2026, an indirect holding of 38,032,260 shares and a direct holding of 147,477 shares were each recorded as a “Disposition to issuer” at a stated price of $0.00 per share, leaving 0 shares reported following each transaction. The filing notes that details of the indirect ownership are described in Exhibit 99.1.
Udemy, Inc. disclosed that investment entities associated with Insight reported a disposition of 98,286 shares of Common Stock to the company. The transaction was coded as a "Disposition to issuer", carried an indicated price of $0.00 per share, and was reported as indirect ownership. Following the transaction, the reporting indirect position shown for this line item is 0 shares.
Udemy, Inc. received disclosures from multiple affiliated Insight investment entities reporting dispositions of Udemy common stock back to the issuer. On May 11, 2026, five indirect, non-derivative transactions coded "D" as a "Disposition to issuer" were reported at a price of $0.00 per share.
Individual line items include dispositions such as 24,203,192 shares of common stock in one entry and 10,654,754 shares in another, all reported as indirectly held with ownership described as "See footnote." For each reported transaction line, the filing lists 0 shares of common stock owned indirectly following the disposition.
Goldman Sachs entities reported beneficial ownership of 7,605,715.18 shares of Udemy, Inc. common stock, representing 5.2% of the class, with shared voting power of 7,596,930.18 and shared dispositive power of 7,605,715.18. The filing is a joint Schedule 13G submitted by The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC and includes a joint filing agreement and exhibits identifying the reporting subsidiary and attribution rules.
Udemy, Inc. President, Udemy Business, Robert Rosenthal reported two stock transactions. He received a grant of 68,750 shares of common stock as a performance-based restricted stock unit award, then disposed of 485,462 shares to the issuer, leaving him with no Udemy shares directly held. These actions occurred in connection with Udemy’s merger into Coursera, where each Udemy share was converted into the right to receive 0.800 Coursera shares and eligible Udemy RSU awards were assumed by Coursera on the same 0.800-for-1 basis.
Udemy, Inc. Chief Technology Officer Ozzie J. Goldschmied reported equity changes tied to Udemy’s merger with Coursera. He received a grant of 34,375 shares of common stock as a performance-based restricted stock unit award and disposed of 666,767 shares to the issuer, leaving him with no directly held Udemy shares. Footnotes explain that, in connection with the Agreement and Plan of Merger with Coursera, each outstanding Udemy share was converted into the right to receive 0.800 Coursera common shares, and certain Udemy restricted stock unit awards were assumed and converted into Coursera restricted stock units.
Udemy, Inc. Chief Financial Officer Sarah Blanchard reported two equity transactions in common stock connected to Udemy’s merger with Coursera. She disposed of 1,551,295 shares in a transaction categorized as a disposition to the issuer and received a grant or award of 125,000 shares, both at a stated price of $0 per share.
Footnotes explain that a prior performance-based restricted stock unit award was deemed achieved upon a change of control triggered immediately before the merger’s effective time, leaving only time-based vesting. At the effective time of the merger, each share of Udemy common stock was converted into the right to receive 0.800 shares of Coursera common stock, and eligible Udemy restricted stock units were converted into Coursera restricted stock units using the same 0.800 factor.
Udemy, Inc. President and CEO Hugo Sarrazin reported mixed equity changes tied to Udemy’s merger with Coursera. The filing shows issuer dispositions and an award rather than open-market trades. A revocable trust associated with Sarrazin returned 47,580 shares of Udemy common stock to the issuer, and he disposed of a further 1,400,576 directly held shares back to the issuer at a stated price of $0.00 per share in connection with the transaction.
Footnotes explain these movements occurred around the “Effective Time” of the merger under a December 17, 2025 Agreement and Plan of Merger, where each Udemy share converted into 0.800 Coursera shares. A performance-based restricted stock unit award granted effective August 15, 2025 was deemed achieved upon change of control and remained subject only to time-based vesting. In this context, Sarrazin received a grant or award of 168,750 shares of Udemy common stock, leaving him with 1,400,576 shares held directly after the reported transactions.
Udemy, Inc. director Sohaib Abbasi reported a disposition of 114,171 shares of Udemy common stock to the issuer in connection with a merger with Coursera, Inc. This disposition, recorded at a price of $0.0000 per share, reduced his reported direct Udemy holdings to zero shares following the transaction.
Under the Agreement and Plan of Merger, each issued and outstanding share of Udemy common stock at the effective time, other than certain excluded shares, was converted into the right to receive 0.800 shares of Coursera common stock. Certain director restricted stock unit awards tied to Udemy shares were also converted into Coursera common stock using the same 0.800 exchange ratio, rounded to the nearest whole share.
Udemy, Inc. director Natalie Schechtman reported a disposition of 93,657 shares of Udemy common stock back to the issuer, leaving her with zero Udemy shares directly held. The transaction is coded as a disposition to the issuer and reflects the completion of Udemy’s merger with Coursera, Inc.
Under the Agreement and Plan of Merger, a Coursera subsidiary merged into Udemy, making Udemy a wholly owned subsidiary of Coursera. At the effective time of the merger, each issued and outstanding share of Udemy common stock was converted into the right to receive 0.800 shares of Coursera common stock. Certain director restricted stock unit awards tied to Udemy shares were also converted into Coursera common stock using the same 0.800 exchange ratio.