Form 4: Upstart CEO Dave Girouard Executes Stock Option and Sells Shares Under 10b5-1 Plan

Upstart CEO Dave Girouard exercised stock options and sold shares on November 15, 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 November 15, 2024.
• On the same day, Mr. Girouard sold a total of 41,667 shares of common stock in multiple transactions at weighted average prices ranging from $64.965 to $66.9368 per share.
• These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 29, 2023.
• Following these transactions, Mr. Girouard directly owns 61,512 shares and indirectly owns 10,713,817 shares through various trusts.
• The exercised options were fully vested and exercisable as of November 15, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing detailing routine insider transactions. It does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing for insider transactions and is common for executives who have stock options as part of their compensation. The use of a 10b5-1 plan indicates that the transactions were pre-planned and not based on any non-public information.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies to avoid accusations of insider trading.
• The reported transactions are typical for executives exercising stock options and selling shares for personal financial management.
• The price range of the sales is within the expected range for the stock's trading price on the transaction date.

Stakeholder Impact

• The transactions may have a minor impact on the stock price due to the volume of shares sold, but this is likely to be minimal given the pre-planned nature of the sales.

Key Dates

Keywords

Upstart Holdings, Dave Girouard, stock options, share sales, Form 4, 10b5-1 plan, insider trading, executive compensation