Form 4: Upstart CEO Dave Girouard Sells Shares to Cover Tax Obligations

Upstart Holdings CEO Dave Girouard sold shares of common stock on February 20, 2025, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On February 20, 2025, Dave Girouard, the CEO of Upstart Holdings, Inc., sold 4,424 shares of common stock at a weighted average price of $78.9978.
• An additional 100 shares were sold at $79.58.
• These sales were executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following the transactions, Girouard directly owns 52,714 shares.
• Girouard also indirectly owns shares through various trusts, including the 2008 D&T Girouard Revocable Trust (8,342,701 shares), the DTG GRAT LLC (1,000,000 shares), and several 2020 Exempt and Nonexempt Gift Trusts.
• The sales were executed under a prearranged 10b5-1 trading plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of insider trading activity and are closely watched by investors for signals about management's confidence in the company's prospects. Sales to cover tax obligations are common and don't necessarily indicate a negative outlook.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates

Keywords

Upstart Holdings, Dave Girouard, stock sale, Form 4, CEO, RSUs, tax obligations, beneficial ownership, securities, shares