Form 4: Upstart Director Boosts Stake with $5M Stock Purchase

Upstart Holdings Director and 10% Owner Dave Girouard acquired 170,240 shares of common stock on May 7, 2026, signaling increased insider confidence.

Summary

• Dave Girouard, a Director and 10% Owner of Upstart Holdings, Inc. (UPST), acquired a total of 170,240 shares of common stock.
• The acquisitions occurred on May 7, 2026, through open market purchases (P).
• 169,940 shares were acquired at a weighted average price of $29.3673 per share, with prices ranging from $28.74 to $29.735.
• An additional 300 shares were acquired at a price of $29.76 per share.
• Following these transactions, Mr. Girouard's indirect beneficial ownership through the 2008 D&T Girouard Revocable Trust increased to 8,512,941 shares.
• His total indirect beneficial ownership across all reported entities, including various trusts, amounts to 10,858,057 shares of Upstart Holdings, Inc. common stock.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive signal. Significant insider buying by a Director and 10% owner typically indicates high confidence in the company's future prospects and valuation.

Positives

• A Director and 10% Owner acquiring a significant number of shares (170,240) suggests strong insider confidence in the company's future prospects.
• The total value of the acquired shares, based on the weighted average price, is approximately $5,000,000, representing a substantial personal investment.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that insider buying, particularly from a Director and significant owner, is often interpreted by the market as a positive signal, suggesting that those closest to the company believe its stock is undervalued or that strong performance is anticipated. This action could potentially bolster investor confidence in Upstart Holdings within the broader fintech lending sector.

Related Party Transactions

• Shares are held indirectly through various trusts, including the 2008 D&T Girouard Revocable Trust, DTG GRAT LLC, TMG 2020 EXEMPT GIFT TRUST, JRG 2020 EXEMPT GIFT TRUST, TMG 2020 NONEXEMPT GIFT TRUST, and JRG 2020 NONEXEMPT GIFT TRUST. The reporting person or a related individual (Tristen Baird Willard) serves as trustee for these entities.

Stakeholder Impact

• Shareholders may perceive this insider purchase as a vote of confidence from management, potentially leading to increased investor interest and positive sentiment towards the stock.

Key Dates

Recommendation

The significant acquisition of shares by a Director and 10% owner, Dave Girouard, at current market prices suggests strong insider confidence in Upstart Holdings' future performance and valuation. This insider buying activity is a positive indicator for investors, implying that the stock may be undervalued or poised for growth, warranting a 'buy' recommendation based on this signal.

Keywords

Upstart Holdings, UPST, Insider Trading, Stock Acquisition, Beneficial Ownership, Dave Girouard, Form 4