Form 4: Upland Software Director Timothy Mattox Sells 20,000 Shares Under 10b5-1 Plan

Director Timothy Mattox sold 20,000 shares of Upland Software, Inc. common stock on March 17, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• On March 17, 2025, Timothy Mattox, a director of Upland Software, Inc., sold 20,000 shares of common stock.
• The sale was executed at a price of $3.1931 per share.
• The transaction was conducted under a pre-approved 10b5-1 trading plan adopted on November 22, 2024.
• Following the transaction, Mattox directly owns 394,008 shares of Upland Software, Inc.
• The shares were sold to cover tax withholding obligations related to the vesting of restricted stock units.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports a routine stock sale under a pre-existing plan. The sale was to cover tax obligations, which is a common practice.

Industry Context

Sales by insiders are a common occurrence, and sales executed under 10b5-1 plans are generally viewed as less impactful since they are pre-scheduled and designed to avoid accusations of insider trading. However, investors often monitor insider transactions for signals about management's confidence in the company's future prospects.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, potentially leading to a slight decrease in investor confidence.

Key Dates