Form 4: Upwork CEO Hayden Brown Reports Stock Transactions
SEC Form 4
Upwork's CEO, Hayden Brown, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On August 18 and 19, 2024, Hayden Brown, the President and CEO of Upwork, engaged in transactions involving Upwork's common stock and restricted stock units (RSUs).
- On August 18, 2024, Brown acquired shares through the vesting of RSUs, totaling 5,100, 2,563, 9,589, 7,611, 14,850 and 18,333 shares.
- On August 19, 2024, Brown disposed of 31,506 shares of common stock at a weighted average price of $9.6482 per share to cover tax withholding obligations related to the vesting of the RSUs.
- Following these transactions, Brown directly owns 1,190,561 shares of Upwork common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock transactions, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the CEO's personal stock holdings and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/18/2021 | RSUs vest in equal quarterly installments over four years beginning on this date. |
| 02/18/2022 | RSUs vest 25% on this date, and then 6.25% quarterly thereafter. |
| 05/18/2022 | RSUs vest in equal quarterly installments over four years beginning on this date. |
| 02/18/2023 | RSUs vest 25% on this date, and then 6.25% quarterly thereafter. |
| 05/18/2023 | RSUs vest in equal quarterly installments over four years beginning on this date. |
| 02/18/2024 | RSUs vest 25% on this date, and then 6.25% quarterly thereafter. |
| 08/18/2024 | Date of RSU vesting and acquisition of shares. |
| 08/19/2024 | Date of sale of shares to cover tax obligations. |
| 08/20/2024 | Date of signature for the Form 4 filing. |
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