Form 4: HubSpot CTO Sells Shares for Tax Obligations

HubSpot CTO Dharmesh Shah disposed of 225 shares of common stock to cover tax obligations related to restricted stock unit settlement.

Summary

• Dharmesh Shah, Chief Technology Officer and Director of HubSpot, Inc. (HUBS), reported a transaction on December 1, 2025.
• The transaction involved the disposition of 225 shares of HubSpot Common Stock.
• These shares were withheld by the Issuer to cover taxes associated with the settlement of restricted stock units.
• The disposition occurred at a price of $373.4 per share.
• Following this transaction, Dharmesh Shah directly beneficially owns 1,270,154 shares of Common Stock.
• Additionally, 16,000 shares are indirectly held by the Polaris I Trust and 11,000 shares by the Polaris II Trust, for which Dharmesh Shah serves as trustee.

Sentiment

Score: 5

Explanation: The transaction is a routine disposition of shares to cover tax obligations upon the vesting of restricted stock units, which is a common and expected event for executives and does not indicate a change in company fundamentals or insider sentiment.

Future Outlook

NA

Management Comments

• The reporting person disclaims beneficial ownership of these securities in excess of his pecuniary interest therein, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose (referring to shares held by Polaris I and II Trusts).

Industry Context

NA

Related Party Transactions

• Shares held by the Polaris I Trust, for which Dharmesh Shah serves as trustee.
• Shares held by the Polaris II Trust, for which Dharmesh Shah serves as trustee.

Stakeholder Impact

• Minimal impact on shareholders as this is a routine, non-discretionary transaction for tax purposes related to RSU vesting, which is a standard compensation practice.

Key Dates

Recommendation

This Form 4 reports a routine disposition of shares by an insider to cover tax obligations upon the vesting of restricted stock units. Such a transaction is a common and expected event and does not typically indicate a change in the company's fundamentals or the insider's long-term view, thus not warranting a change in investment recommendation based solely on this filing.

Keywords

HubSpot, HUBS, Dharmesh Shah, Form 4, insider transaction, stock sale, CTO, Director, common stock, tax withholding