Form 4: Upstart Holdings Chief Legal Officer Sells 1,000 Shares

Upstart Holdings' Chief Legal Officer, Scott Darling, sold 1,000 shares of common stock on February 26, 2024, at a weighted average price of $25.4229.

Summary

• On February 26, 2024, Scott Darling, the Chief Legal Officer of Upstart Holdings, Inc., sold 1,000 shares of common stock.
• The sale was executed at a weighted average price of $25.4229 per share, with individual transactions ranging from $25.00 to $25.725.
• Following the transaction, Darling directly owns 173,775 shares of Upstart Holdings, Inc.
• The sale was conducted under a Rule 10b5-1 trading plan adopted on May 30, 2023.
• Some of the securities owned are restricted stock units (RSUs), each representing a contingent right to receive one share of common stock based on a vesting schedule.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine disclosure of an insider sale under a pre-arranged trading plan. It doesn't inherently indicate a positive or negative outlook.

Industry Context

This Form 4 filing is a routine disclosure of insider trading activity. It provides transparency into the transactions of company executives and their holdings in the company. It is important to note that insider sales do not necessarily indicate a negative outlook for the company.

Stakeholder Impact

• The sale of shares by a company executive could potentially create uncertainty among shareholders, although the impact is likely minimal given the relatively small number of shares sold and the existence of a pre-arranged trading plan.

Key Dates