Form 4: Upstart Holdings Chief Legal Officer Scott Darling Reports Stock Transactions

Scott Darling, Chief Legal Officer of Upstart Holdings, reports exercising stock options and selling shares under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On November 1, 2024, Scott Darling, the Chief Legal Officer of Upstart Holdings, executed transactions involving Upstart's common stock.
• Darling exercised options to acquire 16,019 shares of common stock at a price of $13.22 per share.
• He then sold 8,681 shares at a weighted average price of $48.3132 and 2,210 shares at a weighted average price of $48.855.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on February 29, 2024.
• Following these transactions, Darling directly owns 157,171 shares of common stock and holds options to purchase 236,091 additional shares.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it simply reports transactions. The use of a 10b5-1 plan suggests pre-planned sales, reducing potential negative interpretations.

Positives

• The transactions were executed under a pre-existing Rule 10b5-1 trading plan, which can mitigate concerns about insider trading.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders as they provide insight into the actions of a key executive.

Key Dates