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

Upstart Holdings CEO Dave Girouard sold 2,997 shares of common stock on May 20, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On May 20, 2024, Dave Girouard, CEO of Upstart Holdings, Inc., sold 2,997 shares of common stock at a weighted average price of $25.6199.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following the transaction, Girouard directly owns 64,873 shares.
• Girouard also indirectly owns a significant number of shares through various trusts, including 8,342,701 shares held by the 2008 D&T Girouard Revocable Trust, 1,000,000 shares held by the DTG GRAT LLC, and other shares held by different trusts for the benefit of family members.
• The reporting person has undertaken to provide full information regarding the number of shares sold at each separate price within the range of $25.26 to $26.21 upon request.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales of shares by company executives are a normal part of executive compensation and wealth management. It is important to consider the context of the sale, such as the reason for the sale and the amount of stock the executive still owns, to determine if it is a cause for concern.

Stakeholder Impact

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

Key Dates