Form 4: Upland Software CEO John T. McDonald Discloses Routine Tax-Related Stock Transaction

Upland Software, Inc. CEO and Director John T. McDonald reported a disposition of 22,957 shares of common stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• John T. McDonald, CEO and Director of Upland Software, Inc. (UPLD), filed a Form 4 disclosing a transaction.
• The transaction involved the disposition of 22,957 shares of Upland Software Common Stock.
• This disposition was not an open market sale but shares withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units.
• The price per share for the withheld shares was $1.84.
• Following this transaction, Mr. McDonald directly beneficially owns 2,466,563 shares of Common Stock.
• Additionally, Mr. McDonald indirectly beneficially owns 363,738 shares through National Financial Services as Cust FBO J. McDonald RRA.
• The reported beneficial ownership does not include 125,000 shares of common stock held in a trust for the benefit of Mr. McDonald's children, where The Bryn Mawr Trust Company of Delaware is the trustee.

Sentiment

Score: 5

Explanation: The document reports a routine, non-discretionary transaction (shares withheld for tax purposes) by an insider, which is neutral in sentiment and does not indicate any positive or negative operational or financial performance.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically a tax-related withholding of shares. Such transactions are common in the software industry, as restricted stock units (RSUs) are a standard component of executive compensation packages, and tax obligations upon vesting often lead to a portion of shares being withheld by the company.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes and not an open market sale. It reflects standard equity compensation practices.

Key Dates

Keywords

Upland Software, UPLD, John T. McDonald, SEC Form 4, Insider Transaction, Restricted Stock Units, Tax Withholding, CEO, Director, Equity Compensation