Form 4: Upstart Holdings Chief Legal Officer Scott Darling Reports Stock Transactions
SEC Form 4
Scott Darling, Chief Legal Officer of Upstart Holdings, reported multiple transactions involving common stock, including the exercise of stock options and sales of shares, according to a Form 4 filing with the SEC.
Summary
- Scott Darling, the Chief Legal Officer of Upstart Holdings, filed a Form 4 with the SEC detailing changes in beneficial ownership.
- The transactions included the exercise of employee stock options and the sale of common stock.
- On February 28, 2025, Darling exercised options to acquire 7,564 shares at $13.22 per share and sold 6,407 shares at an average price of $64.6825, 8,681 shares at an average price of $65.46, and 419 shares at $64.65.
- On March 3, 2025, Darling exercised options to acquire 2,000 shares at $13.22 per share and sold 2,000 shares at an average price of $67.8881.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 27, 2024.
- Darling also acquired 14,666 restricted stock units (RSUs) on February 28, 2025, which vest over time subject to continued service.
- Following these transactions, Darling beneficially owns 150,129 shares of common stock and holds options to purchase 226,527 shares.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document simply reports stock transactions by an insider, which is a normal part of corporate activity. There is no indication of positive or negative implications for the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- Shareholders may be interested in the insider's transactions as an indicator of management's confidence in the company.
- The transactions have a minimal impact on employees, customers, suppliers, and creditors.
Key Dates
| Date | Description |
|---|---|
| 2023-01-20 | 1/48 of the shares subject to the option shall vest on January 20, 2023 and at the end of each successive one-month period thereafter, subject to the Reporting Person continuing as a service provider through each such date. |
| 2024-11-27 | Date the Rule 10b5-1 trading plan was adopted by the Reporting Person. |
| 2025-02-27 | Date of expiration of employee stock option. |
| 2025-02-28 | Date of multiple transactions including exercising options and selling common stock. |
| 2025-03-03 | Date of multiple transactions including exercising options and selling common stock. |
| 2025-03-04 | Date of Form 4 filing. |
| 2032-12-31 | Expiration date of employee stock options. |
| 2035-02-27 | Expiration date of employee stock options. |
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