Form 4: Upland Software CFO Michael Hill Reports Stock Transaction

Upland Software's CFO, Michael Hill, had shares withheld by the issuer to cover tax obligations related to vesting restricted stock units.

Summary

• Michael Hill, the CFO and Treasurer of Upland Software, reported a transaction involving the company's common stock.
• On December 16, 2024, 11,070 shares were withheld by Upland Software to satisfy tax obligations related to the vesting of restricted stock units.
• This transaction was not an open market sale.
• Following the transaction, Michael Hill directly owns 305,035 shares of Upland Software.
• Additionally, 160,042 shares are held indirectly through the MDH Trust, where Michael Hill serves as trustee.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is neither positive nor negative. It is a neutral event.

Industry Context

This is a routine filing related to executive compensation and is common for publicly traded companies.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, especially when dealing with vesting of restricted stock units.
• The withholding of shares for tax obligations is a standard practice to simplify tax compliance for employees.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for tax withholding.
• The transaction does not impact employees, customers, suppliers or creditors.

Key Dates

Keywords

Upland Software, Michael Hill, CFO, stock transaction, Form 4, restricted stock units, tax withholding, beneficial ownership