Form 4: Upstart Holdings CEO Dave Girouard Reports Changes in Beneficial Ownership
SEC Filing (Form 4)
Dave Girouard, CEO of Upstart Holdings, reports changes in beneficial ownership of company stock, including the acquisition of stock options.
Summary
- Dave Girouard, the CEO of Upstart Holdings, filed a Form 4 with the SEC detailing changes in his beneficial ownership of the company's stock.
- The report indicates the acquisition of 417,098 employee stock options with an exercise price of $25.75, vesting monthly starting March 20, 2024, and expiring on February 28, 2034.
- Girouard also indirectly owns shares through various trusts, including the 2008 D&T Girouard Revocable Trust (8,342,701 shares), the DTG GRAT LLC (1,000,000 shares), and several 2020 Exempt and Nonexempt Gift Trusts.
- He directly owns 67,870 shares, some of which are restricted stock units (RSUs) representing a contingent right to receive one share of common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document is a standard SEC filing reporting changes in beneficial ownership. The acquisition of stock options could be seen as a slightly positive signal, but it's a routine event.
Positives
- The acquisition of stock options by the CEO could be interpreted as a positive sign, indicating confidence in the company's future performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates changes in the CEO's holdings of Upstart stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's stake in the company.
Key Dates
| Date | Description |
|---|---|
| 02/29/2024 | Date of earliest transaction (acquisition of stock options). |
| 03/04/2024 | Date of signature on the Form 4 filing. |
| 03/20/2024 | First vesting date for the acquired stock options. |
| 02/28/2034 | Expiration date for the acquired stock options. |
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