Form 4: Upstart Holdings Director Terry Hilliard C. III Reports Stock Transactions

Director Terry Hilliard C. III reports acquisition and disposal of Upstart Holdings, Inc. common stock and restricted stock units.

Summary

• On May 30, 2024, Terry Hilliard C. III, a director of Upstart Holdings, Inc., acquired 8,278 shares of common stock.
• These shares were acquired at a price of $0.
• On the same day, the director disposed of 26,642 shares of common stock.
• Following these transactions, Hilliard directly owns 26,642 shares of Upstart Holdings, Inc.
• The reported transactions also involve restricted stock units (RSUs), each representing a contingent right to receive one share of common stock.
• 100% of the RSUs will vest on the earlier of May 30, 2025, or the day prior to the date of the Issuer's 2025 annual meeting of stockholders, subject to continued service.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Future Outlook

The vesting of RSUs is contingent on the reporting person's continued service with Upstart Holdings through May 30, 2025, or the day prior to the 2025 annual meeting.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities in the company's stock. It's a standard practice for directors and officers to report such transactions.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership by a director.
• The vesting of RSUs incentivizes the director to remain with the company, potentially benefiting the company and its stakeholders.

Key Dates