Form 4: Upland Software Executive Matthew Smith Acquires 50,000 Shares of Restricted Stock

Upland Software's General Counsel and Secretary, Matthew Smith, acquired 50,000 shares of restricted stock on January 28, 2025.

Summary

• Matthew Smith, General Counsel and Secretary of Upland Software, acquired 50,000 shares of common stock on January 28, 2025.
• The shares were acquired as restricted stock units at a price of $0.
• These restricted stock units vest in twelve equal quarterly installments starting on March 16, 2025, provided Mr. Smith remains a service provider.
• Following this transaction, Mr. Smith beneficially owns 139,639 shares of Upland Software common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management's interests with shareholders. There is no indication of any negative sentiment.

Positives

• The acquisition of shares by a key executive demonstrates confidence in the company's future.

Future Outlook

The restricted stock units will vest in twelve equal quarterly installments starting on March 16, 2025, contingent on continued service.

Industry Context

This is a standard practice for executive compensation, aligning management's interests with those of shareholders.

Comparison to Industry Standards

• Granting restricted stock units to executives is a common practice in the technology industry, used by companies like Salesforce, Adobe, and Oracle.
• These grants are typically structured with vesting schedules to incentivize long-term performance and retention, similar to the vesting schedule outlined in this document.
• The vesting schedule of twelve equal quarterly installments is a fairly standard approach, aligning with typical industry practices.

Stakeholder Impact

• The acquisition of shares by a key executive can be viewed positively by shareholders, indicating confidence in the company's future.

Key Dates

Keywords

Upland Software, Matthew Smith, restricted stock, stock acquisition, executive compensation, Form 4, insider trading