Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 26, 2022, the Board of Directors (the “Board”) of Udemy, Inc. (the “Company”) increased the size of the Board to 8 directors and appointed Natalie Schechtman to serve as a Class II director. The Board also appointed Ms. Schechtman to serve on the Compensation Committee and the Nominating and Corporate Governance Committee of the Board.
There are no arrangements or understandings between Ms. Schechtman, on the one hand, and the Company or any other persons, on the other hand, pursuant to which Ms. Schechtman was selected as a director. There are no related party transactions between the Company and Ms. Schechtman (or any of her immediate family members) requiring disclosure under Item 404(a) of Regulation S-K. Ms. Schechtman does not have any family relationships with any of the Company’s directors or executive officers.Ms. Schechtman is an executive officer of Advance Auto Parts, Inc. (“Advance Auto”), a subsidiary of which is a Udemy Business customer. The Company estimates that the dollar value of this customer relationship is approximately $0.3 million per year. The Company believes that Ms. Schechtman’s interest in this transaction is de minimis.Ms. Schechtman will participate in the Company’s non-employee director compensation policy, as described in the Company’s definitive proxy statement filed with the SEC on April 20, 2022. In addition, the Company will enter into its standard form of indemnification agreement with Ms. Schechtman.
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Item 9.01 Financial Statements and Exhibits
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