SCHEDULE: Jalak Investments, Petrus van Schaick Boost Upland Software Stake to 9%

Jalak Investments B.V. and Petrus van Schaick have increased their beneficial ownership in Upland Software, Inc. to 9.0% of common stock.

Summary

• Jalak Investments B.V. and Petrus van Schaick, both based in the Netherlands, jointly filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in Upland Software, Inc.
• They collectively beneficially own 2,600,000 shares of Upland Software, Inc. common stock.
• This ownership represents 9.0% of the issuer's common stock outstanding.
• The percentage is calculated based on 28,891,348 shares of common stock outstanding as of November 4, 2025, as reported by Upland Software in its Quarterly Report on Form 10-Q filed on November 6, 2025.
• Jalak Investments B.V. is the direct record and beneficial owner of the shares, with Petrus van Schaick holding voting and investment power as the sole shareholder of Jalak Investments B.V.
• The Reporting Persons certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of beneficial ownership, indicating a significant stake by an institutional investor. While not inherently positive or negative, a substantial ownership position can be viewed as a vote of confidence in the company's long-term prospects, especially given the certification against control-influencing intent.

Positives

• A significant beneficial ownership stake of 9.0% in Upland Software, Inc. by Jalak Investments B.V. and Petrus van Schaick indicates a strong conviction in the company's long-term prospects.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Industry Context

This filing reflects an institutional investor's significant stake in Upland Software, a company operating in the software industry. Such disclosures are common for publicly traded companies and can signal investor confidence or strategic positioning within the sector.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The disclosure of a significant 9.0% stake by an institutional investor could be perceived positively, potentially signaling confidence in the company's value.
• Management: Awareness of a large, non-activist shareholder may influence strategic decisions, though the filing explicitly states no intent to influence control.

Next Steps

• NA

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of a significant ownership stake by Jalak Investments B.V. and Petrus van Schaick in Upland Software, Inc. While the 9.0% stake indicates a substantial investment and potential confidence from the reporting persons, the filing itself does not provide sufficient financial or operational details to warrant a 'buy' or 'sell' recommendation. The certification that the shares were not acquired for the purpose of changing or influencing control suggests a passive, long-term investment stance. Therefore, a 'hold' recommendation is appropriate, as this filing alone does not alter the fundamental investment thesis but confirms a significant institutional presence. Investors should continue to monitor Upland Software's financial performance and strategic developments.

Keywords

Upland Software, UPLD, Jalak Investments, Petrus van Schaick, beneficial ownership, Schedule 13G, institutional investor, common stock, software