Form 4: Upstart Holdings Chief Legal Officer Sells Shares to Cover Tax Obligations

Scott Darling, Chief Legal Officer of Upstart Holdings, sold shares of common stock on February 20, 2025, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On February 20, 2025, Scott Darling, the Chief Legal Officer of Upstart Holdings, sold 4,694 shares of common stock at a weighted average price of $79.032 per share.
• An additional 100 shares were sold at $79.58 per share.
• These sales were executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following these transactions, Darling still beneficially owns 143,406 shares of Upstart Holdings common stock, which includes 419 shares acquired through the company's Employee Stock Purchase Plan on February 15, 2025.
• Some of the reported securities are RSUs, each representing a contingent right to receive one share of common stock upon vesting.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations, which doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Form 4 filings are a routine part of insider trading activity and are closely monitored by investors for signals about a company's prospects; however, sales to cover tax obligations are common and may not necessarily reflect a negative outlook.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, although sales to cover tax obligations are common.

Key Dates

Keywords

Upstart Holdings, Scott Darling, Chief Legal Officer, Form 4, Share Sale, Restricted Stock Units, Tax Withholding, Employee Stock Purchase Plan, Beneficial Ownership