Form 4: Upland Software CFO Reports Tax-Related Share Withholding

Upland Software CFO Michael Douglass Hill reported the withholding of 8,931 shares to satisfy tax obligations related to restricted stock unit vesting.

Summary

• CFO Michael Douglass Hill disposed of 8,931 shares of Upland Software common stock.
• The transaction occurred on June 16, 2026, at a price of $0.6064 per share.
• The disposal was a mandatory tax withholding event related to the vesting of restricted stock units, not an open market sale.
• Following the transaction, the reporting person maintains direct ownership of 383,360 shares and indirect ownership of 160,042 shares via the MDH Trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative event, as the share reduction was purely for tax compliance purposes.

Positives

• The transaction was a routine administrative tax withholding event rather than a discretionary divestment of shares.

Negatives

• The transaction reflects a low valuation per share ($0.6064) at the time of vesting.

Risks

• Continued downward pressure on share price could impact the value of executive equity compensation and retention.

Future Outlook

No forward-looking guidance or strategic outlook provided in this regulatory filing.

Industry Context

StockSavvy.ai notes that routine tax withholding filings are standard corporate governance procedures for executives and do not typically signal a change in management sentiment regarding company performance.

Comparison to Industry Standards

• The filing follows standard SEC reporting requirements for executive equity compensation tax obligations.
• The transaction is consistent with typical executive compensation structures in the software industry.

Related Party Transactions

• The reporting person maintains indirect ownership of 160,042 shares through the MDH Trust, for which the reporting person serves as trustee.

Stakeholder Impact

• Minimal impact on shareholders as the transaction was a non-discretionary tax withholding.

Next Steps

• No future actions or milestones mentioned.

Key Dates

Keywords

Upland Software, UPLD, Form 4, Insider Transaction, CFO, Tax Withholding