Form 4: Upstart CFO Sanjay Datta Sells Shares to Cover Tax Obligations

Upstart Holdings' CFO, Sanjay Datta, sold shares of common stock on August 19th and 20th, 2024, primarily to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• Sanjay Datta, the Chief Financial Officer of Upstart Holdings, Inc., reported the sale of company stock in a Form 4 filing with the SEC.
• On August 19, 2024, Datta sold 1,500 shares of common stock at a price of $37 per share.
• On August 20, 2024, he sold 19,105 shares at a weighted average price of $38.3191, with prices ranging from $37.93 to $38.91.
• Additionally, on August 20, 2024, he sold 200 shares at $38.93.
• These sales were executed, in part, to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• The initial sale on August 19th was executed under a pre-arranged 10b5-1 trading plan adopted on February 26, 2024.
• Following these transactions, Datta directly owns 349,093 shares of Upstart Holdings, Inc.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document primarily reports stock sales by an executive, which is a routine event. The sales are partially to cover tax obligations, further normalizing the event.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies, often related to compensation and personal financial planning.

Stakeholder Impact

• The stock sales could have a minor, temporary impact on the stock price, but are unlikely to have a significant long-term effect on shareholders.

Key Dates