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

Scott Darling, Chief Legal Officer of Upstart Holdings, sold 6,732 shares of common stock on May 20, 2025, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On May 20, 2025, Scott Darling, the Chief Legal Officer of Upstart Holdings, Inc., sold 6,732 shares of common stock.
• The sale was executed at a weighted average price of $46.9766 per share, with individual transactions ranging from $46.685 to $47.52.
• The transaction was to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following the transaction, Darling still beneficially owns 143,397 shares of Upstart Holdings, Inc.
• Certain of these securities are RSUs, each representing a contingent right to receive one share of Common Stock, subject to the applicable vesting schedule and conditions of each RSU.

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing relates to a routine transaction for tax purposes.

Industry Context

This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when restricted stock units vest.

Stakeholder Impact

• The sale of shares by an executive could have a minor, temporary impact on shareholder sentiment, but is unlikely to have a significant long-term effect.

Key Dates

Keywords

Upstart Holdings, Scott Darling, Chief Legal Officer, Form 4, Stock Sale, Tax Withholding, RSUs, Beneficial Ownership