Form 4: Upstart CFO Sanjay Datta Sells 1,500 Shares Under 10b5-1 Trading Plan

Upstart Holdings' CFO, Sanjay Datta, sold 1,500 shares of common stock at a price of $41.29 per share on October 7, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On October 7, 2024, Sanjay Datta, the Chief Financial Officer of Upstart Holdings, Inc., sold 1,500 shares of Upstart's common stock.
• The sale was executed at a price of $41.29 per share.
• This transaction was conducted under a Rule 10b5-1 trading plan adopted by Mr. Datta on February 26, 2024.
• Following the transaction, Mr. Datta beneficially owns 338,593 shares of Upstart's common stock, some of which are restricted stock units (RSUs).

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction was pre-planned under a 10b5-1 trading plan and doesn't necessarily reflect a change in the CFO's outlook on the company.

Industry Context

Sales by company insiders are a common occurrence and are often viewed in the context of pre-arranged trading plans. The market typically assesses the size and frequency of such sales to gauge potential impact.

Stakeholder Impact

• The sale of shares 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