Form 4: Upstart Holdings CEO Dave Girouard Sells Shares to Cover Tax Obligations

Upstart Holdings CEO Dave Girouard sold 3,361 shares of common stock at a weighted average price of $38.3453 to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On August 20, 2024, Dave Girouard, CEO of Upstart Holdings, Inc., sold 3,361 shares of common stock.
• The shares were sold at a weighted average price of $38.3453, with individual transactions ranging from $37.95 to $38.91.
• The sale was executed to cover tax withholding obligations related to the vesting of restricted stock units (RSUs).
• Following the transaction, Girouard directly owns 61,512 shares and indirectly owns millions of shares through various trusts.
• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the range set forth in this footnote upon request to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a routine transaction to cover tax obligations.

Industry Context

This is a routine Form 4 filing, indicating insider transactions. It's common for executives to sell shares to cover tax obligations when RSUs vest.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates