Form 4: Upland Software COO Karen Cummings Sells Shares to Cover Tax Obligations

Upland Software's President and COO, Karen Cummings, disposed of 7,812 shares to cover tax obligations related to vesting restricted stock units.

Summary

• Karen Cummings, President and COO of Upland Software, disposed of 7,812 shares of common stock on December 16, 2024.
• The shares were sold at a price of $4.51 per share.
• This transaction was not an open market sale but rather a withholding by the issuer to satisfy tax obligations related to the vesting of restricted stock units.
• Following the transaction, Ms. Cummings beneficially owns 367,552 shares of Upland Software.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Similar transactions are common among executives of publicly traded companies when restricted stock units vest.
• The sale of shares to cover tax obligations is a standard practice and does not indicate a change in the executive's outlook on the company.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Upland Software, Karen Cummings, stock sale, insider transaction, tax withholding, restricted stock units, UPLD