Form 4: Upstart Officer Exercises Options, Sells Shares for Tax

Natalia Mirgorodskaya, an officer at Upstart Holdings, Inc., exercised stock options and subsequently sold a portion of shares to cover tax withholding obligations.

Summary

• Natalia Mirgorodskaya, an officer at Upstart Holdings, Inc. (UPST), engaged in equity transactions on November 20, 2025.
• Exercised 6,900 employee stock options, which were fully vested and exercisable, at an exercise price of $1.35 per share. This resulted in the acquisition of 6,900 shares of common stock at a deemed price of $35.58.
• Subsequently sold 741 shares of common stock at a weighted average price of $36.582 per share. These sales occurred in multiple transactions ranging from $35.935 to $36.85.
• An additional 80 shares of common stock were sold at $36.95 per share.
• The total of 821 shares sold were specifically to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following these transactions, Mirgorodskaya beneficially owns 27,160 shares of Upstart common stock, which includes restricted stock units.

Sentiment

Score: 5

Explanation: Neutral. The transactions are routine for an executive exercising options and covering tax obligations, not indicating a significant change in sentiment or company prospects.

Positives

• The exercise of 6,900 fully vested employee stock options indicates the officer's decision to realize value from their equity compensation.
• Continued beneficial ownership of 27,160 shares, including RSUs, maintains alignment of the officer's interests with those of other shareholders.

Negatives

• The sale of 821 shares, even for tax purposes, results in a reduction of the officer's direct equity ownership in the company.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Minimal direct impact, as the sales are for tax purposes and represent a small fraction of the officer's total beneficial ownership.
• Employees: No direct impact.

Key Dates

Keywords

Upstart Holdings, UPST, Form 4, Insider Transaction, Stock Option Exercise, Restricted Stock Units, Tax Withholding, Natalia Mirgorodskaya, Officer, Equity Sales