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

Upstart Holdings' Chief Legal Officer, Scott Darling, sold 4,383 shares of common stock on May 20, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On May 20, 2024, Scott Darling, the Chief Legal Officer of Upstart Holdings, Inc., sold 4,383 shares of common stock.
• The sale was executed at a weighted average price of $25.617 per share, with individual transactions ranging from $25.28 to $26.21.
• The transaction was to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following the transaction, Darling still beneficially owns 199,993 shares, some of which are RSUs representing a contingent right to receive one share of common stock.

Sentiment

Score: 5

Explanation: This is a neutral transaction related to tax obligations. It doesn't indicate positive or negative sentiment towards the company's prospects.

Industry Context

This is a routine transaction related to executive compensation and tax obligations. It doesn't necessarily reflect a change in the executive's confidence in the company.

Stakeholder Impact

• The sale of shares by a company executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant effect given the context.

Key Dates