Form 4: Upland Software President and COO Karen Cummings Reports Routine Share Withholding for Tax Obligations

Karen Cummings, President and COO of Upland Software, Inc., reported the withholding of 40,993 shares of common stock to cover tax obligations related to the vesting of restricted stock units.

Summary

• Karen Cummings, President and COO of Upland Software, Inc. (UPLD), reported a transaction on June 30, 2025.
• The transaction involved the disposition of 40,993 shares of Upland Software Common Stock.
• These shares were withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units.
• The shares were valued at $1.95 per share for tax purposes.
• Following this transaction, Karen Cummings beneficially owns 306,432 shares of Common Stock directly.
• This transaction is explicitly stated not to be an open market sale of securities.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine administrative transaction (tax withholding) related to executive compensation, not an open market sale or a strategic corporate action.

Positives

• The transaction indicates the vesting of restricted stock units, which is generally a positive event for the executive as it represents earned compensation.

Negatives

• No inherent negatives are indicated by this routine tax withholding transaction.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine insider transaction filing (Form 4) related to executive compensation and tax compliance, and as such, it does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine tax withholding, not a discretionary sale or a significant change in ownership structure that would typically affect share price or company strategy.
• Employees: No direct impact beyond the reporting person.

Key Dates

Keywords

Upland Software, UPLD, Karen Cummings, Form 4, SEC filing, insider transaction, restricted stock units, tax withholding, equity compensation