Form 4: Upstart Holdings CFO Sells 1,500 Shares Under 10b5-1 Trading Plan

Upstart Holdings' Chief Financial Officer, Sanjay Datta, sold 1,500 shares of common stock at $68.56 per share on November 18, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Sanjay Datta, the Chief Financial Officer of Upstart Holdings, sold 1,500 shares of the company's common stock on November 18, 2024.
• The sale was executed at a price of $68.56 per share.
• This transaction was conducted under a pre-established Rule 10b5-1 trading plan adopted on February 26, 2024.
• Following the sale, Mr. Datta directly owns 329,593 shares of Upstart Holdings common stock.
• Some of these shares are in the form of restricted stock units (RSUs), each representing a contingent right to receive one share of common stock upon vesting.

Sentiment

Score: 5

Explanation: The document reflects a routine insider transaction under a pre-arranged plan, which is neither positive nor negative for the company's overall outlook.

Industry Context

This is a routine filing related to insider trading activity and is common for executives of publicly traded companies. The use of a 10b5-1 trading plan is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a standard practice among executives at publicly traded companies, such as those in the technology and finance sectors, including companies like Google (Alphabet), Microsoft, and Goldman Sachs.
• These plans allow insiders to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
• The volume of shares sold by Mr. Datta is relatively small compared to the total outstanding shares of Upstart Holdings, which is typical for routine insider sales.

Stakeholder Impact

• The sale of shares by the CFO may have a minor impact on shareholder sentiment, but it is unlikely to significantly affect the company's stock price due to the pre-planned nature of the transaction.

Key Dates

Keywords

Upstart Holdings, Sanjay Datta, insider trading, Form 4, 10b5-1 trading plan, stock sale, CFO, UPST