Form 4: Upland Software COO Karen Cummings Reports Tax-Related Stock Transaction
SEC Form 4 Filing
Karen Cummings, President and COO of Upland Software, reports the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On March 16, 2024, Karen Cummings, the President and COO of Upland Software, had 9,515 shares of common stock withheld by the issuer to satisfy tax obligations.
- The price per share for the transaction was $4.21.
- Following the transaction, Cummings beneficially owns 390,994 shares of Upland Software common stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (tax withholding) and has no inherent positive or negative implications for the company's outlook.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is related to tax obligations, which is a common occurrence when restricted stock units vest.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a standard tax withholding procedure.
Key Dates
| Date | Description |
|---|---|
| 03/16/2024 | Date of the stock transaction (tax withholding) |
| 03/19/2024 | Date of signature on the Form 4 filing |
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