Form 4: Upstart CFO Sanjay Datta Sells 1,500 Shares
SEC Form 4
Upstart Holdings' CFO, Sanjay Datta, sold 1,500 shares of common stock at $40 per share on September 23, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On September 23, 2024, Sanjay Datta, the Chief Financial Officer of Upstart Holdings, Inc., sold 1,500 shares of common stock.
- The sale was executed at a price of $40 per share.
- The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 26, 2024.
- Following the transaction, Datta directly owns 341,593 shares of Upstart Holdings, Inc., some of which are restricted stock units (RSUs).
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard disclosure of an insider stock sale under a pre-arranged trading plan.
Industry Context
This is a routine disclosure of an insider stock sale. It's common for executives to have pre-arranged trading plans to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sale could have a minor impact on shareholder sentiment, but is unlikely to have a significant effect given it was pre-planned.
Key Dates
| Date | Description |
|---|---|
| February 26, 2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| September 23, 2024 | Date of the stock sale transaction |
| September 25, 2024 | Date of signature on the Form 4 filing |
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