Form 4: Upstart Holdings CFO Sanjay Datta Reports Stock Sale
SEC Form 4
Upstart Holdings CFO Sanjay Datta sold 1,000 shares of common stock on May 28, 2024, at a price of $23.71 per share, according to a Form 4 filing.
Summary
- Sanjay Datta, the Chief Financial Officer of Upstart Holdings, Inc., reported a transaction involving the company's common stock.
- On May 28, 2024, Datta sold 1,000 shares of Upstart common stock at a price of $23.71 per share.
- The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 26, 2024.
- Following the transaction, Datta directly owns 381,398 shares of Upstart common stock, some of which are restricted stock units (RSUs).
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.
Industry Context
Form 4 filings are a routine part of the US stock market and are required by the SEC to provide transparency into the transactions of company insiders.
Stakeholder Impact
- The stock sale by a key executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| February 26, 2024 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| May 28, 2024 | Date of the stock sale transaction |
| May 30, 2024 | Date of the signature on the Form 4 filing |
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