Form 4: Upstart Holdings Chief Legal Officer Sells Shares

Scott Darling, Chief Legal Officer of Upstart Holdings, sold 3,000 shares of common stock at an average price of $40.0019 on August 23, 2024, according to a Form 4 filing with the SEC.

Summary

• Scott Darling, the Chief Legal Officer of Upstart Holdings, Inc., reported the sale of 3,000 shares of common stock on August 23, 2024.
• The shares were sold at a weighted average price of $40.0019, with individual transactions ranging from $39.93 to $40.13.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 29, 2024.
• Following the transaction, Darling directly owns 173,870 shares of Upstart Holdings, Inc.
• Some of these securities are restricted stock units (RSUs), each representing a contingent right to receive one share of common stock, subject to vesting schedules and conditions.

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, but rather provides factual information.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency to the market regarding the actions of company executives.

Stakeholder Impact

• The sale of shares by a company executive could be perceived differently by stakeholders.
• Some may view it as a lack of confidence in the company's future, while others may see it as a normal part of personal financial planning.

Key Dates