Form 4: Upland Software CFO Reports Future Tax-Related Stock Disposition

Upland Software's CFO, Michael Douglass Hill, reported a planned disposition of 8,931 common shares on March 16, 2026, to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• Michael Douglass Hill, CFO, Treasurer & Secretary of Upland Software, Inc. (UPLD), filed a Form 4.
• The filing reports a transaction date of March 16, 2026.
• 8,931 shares of Common Stock were disposed of with a deemed price of $0.54 per share.
• This disposition was due to shares being withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units, and it was not an open market sale.
• Following this transaction, Michael Douglass Hill directly beneficially owns 392,291 shares of Common Stock.
• Additionally, 160,042 shares are indirectly beneficially owned through the MDH Trust, for which the reporting person is the trustee.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The disposition of shares is a non-discretionary transaction to cover tax obligations related to equity compensation, which is a standard practice and does not reflect a change in management's outlook or the company's fundamentals.

Future Outlook

The filing indicates a future planned disposition of shares on March 16, 2026, to cover tax withholding obligations related to restricted stock unit vesting, which is a routine, non-discretionary event.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as the disposition of shares for tax withholding purposes upon the vesting of restricted stock units, are common occurrences for executives receiving equity compensation across various industries. These transactions are generally not indicative of broader industry trends or a change in the company's operational performance.

Stakeholder Impact

• Shareholders: Minimal impact, as this is a routine, non-discretionary transaction for tax purposes and not an open market sale that would signal a change in insider sentiment.

Key Dates

Recommendation

This Form 4 reports a routine disposition of shares for tax withholding purposes, which does not reflect a discretionary sale by the insider or indicate a change in the company's fundamental outlook. Therefore, a 'hold' recommendation is appropriate as this transaction provides no new information to alter an investment thesis.

Keywords

Upland Software, UPLD, Form 4, insider transaction, stock disposition, tax withholding, Michael Hill, CFO