Form 4: Upstart Holdings CEO Acquires Shares Through Stock Options
SEC Form 4 Filing
Upstart Holdings CEO, Dave Girouard, reports acquisition of shares through employee stock options.
Summary
- Dave Girouard, CEO of Upstart Holdings, filed a Form 4 with the SEC.
- The filing reports the acquisition of 239,628 shares of Upstart Holdings common stock through the exercise of employee stock options.
- The exercise price of the options is $66.67 per share.
- The options were granted on February 28, 2025, and expire on February 27, 2035.
- The shares vest in monthly installments starting March 20, 2025.
- Girouard also indirectly owns shares through various trusts.
- These trusts include the 2008 D&T Girouard Revocable Trust (8,342,701 shares), DTG GRAT LLC (1,000,000 shares), TMG 2020 EXEMPT GIFT TRUST (546,501 shares), JRG 2020 EXEMPT GIFT TRUST (546,501 shares), TMG 2020 NONEXEMPT GIFT TRUST (126,057 shares), and JRG 2020 NONEXEMPT GIFT TRUST (126,057 shares).
Sentiment
Score: 6
Explanation: Neutral sentiment as it's a routine disclosure of stock option exercise. The CEO exercising options is generally a positive sign, but it's not a major event.
Positives
- The CEO's acquisition of shares through stock options could be seen as a positive signal, indicating confidence in the company's future performance.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. They are closely watched by investors for insights into management's views on the company's prospects.
Stakeholder Impact
- The CEO's stock option exercise could have a minor positive impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| May 23, 2023 | Date of the DTG GRAT LLC trust. |
| October 19, 2020 | Date of the TMG 2020 EXEMPT GIFT TRUST and JRG 2020 EXEMPT GIFT TRUST. |
| October 19, 2020 | Date of the TMG 2020 NONEXEMPT GIFT TRUST and JRG 2020 NONEXEMPT GIFT TRUST. |
| 02/28/2025 | Date of the earliest transaction and grant date of the employee stock option. |
| 02/27/2035 | Expiration date of the employee stock option. |
| 03/04/2025 | Date of the signature on the Form 4 filing. |
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