Form 4: Upstart CEO Dave Girouard Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Upstart CEO Dave Girouard exercised stock options and sold shares on December 16, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Upstart Holdings CEO, Dave Girouard, exercised stock options to acquire 41,667 shares of common stock at a price of $0.83 per share on December 16, 2024.
- On the same day, Girouard sold a total of 41,667 shares of common stock in multiple transactions at weighted average prices ranging from $81.7037 to $84.7023.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 29, 2024.
- Following these transactions, Girouard directly owns 57,138 shares of common stock and indirectly owns millions of shares through various trusts.
- The sales were conducted in multiple transactions with prices ranging from $81.2650 to $85.00.
Sentiment
Score: 5
Explanation: The document reflects routine insider transactions under a pre-planned trading plan, which is neither positive nor negative.
Industry Context
This is a routine filing for insider transactions and is common for executives who have stock options and pre-planned trading plans.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a standard practice among public company executives to avoid accusations of insider trading.
- The reported transactions are typical for executives who receive stock options as part of their compensation package.
- The price range of the share sales is within the normal trading range for the company's stock.
Stakeholder Impact
- The transactions are unlikely to have a significant impact on stakeholders as they are part of a pre-planned trading strategy.
Key Dates
| Date | Description |
|---|---|
| 2020-10-19 | Date of various trust agreements related to indirect share ownership. |
| 2023-05-23 | Date of the DTG GRAT LLC trust agreement. |
| 2024-08-29 | Date the Rule 10b5-1 trading plan was adopted. |
| 2024-12-16 | Date of the stock option exercise and share sales. |
| 2024-12-18 | Date of the signature on the Form 4 filing. |
Keywords
Upstart Holdings, Dave Girouard, stock options, share sales, Rule 10b5-1, insider trading, executive compensation
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