Form 4: Upstart CFO Sanjay Datta Sells 1,500 Shares of Common Stock
SEC Form 4 Filing
Upstart Holdings' CFO, Sanjay Datta, sold 1,500 shares of common stock on October 28, 2024, according to a Form 4 filing with the SEC.
Summary
- Sanjay Datta, the Chief Financial Officer of Upstart Holdings, Inc., sold 1,500 shares of common stock on October 28, 2024.
- The sale was executed at a price of $51.7 per share.
- Following the transaction, Datta directly owns 334,093 shares of Upstart common stock, some of which are restricted stock units (RSUs).
- The sale was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 26, 2024.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to an executive stock sale under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Executive stock sales are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any specific inside information.
Stakeholder Impact
- The stock sale by a high-ranking officer could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| February 26, 2024 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| October 28, 2024 | Date of the transaction (stock sale) |
| October 30, 2024 | Date of signature on the Form 4 filing |
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