Form 4: Upwork CEO Hayden Brown Sells 40,000 Shares Under 10b5-1 Plan

Upwork's CEO, Hayden Brown, sold 40,000 shares of common stock at an average price of $15.9239 per share on May 7, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 7, 2025, Hayden Brown, the President and CEO of Upwork Inc., sold 40,000 shares of Upwork's common stock.
• The sale was executed at a weighted average price of $15.9239 per share.
• The prices for individual transactions ranged from $15.62 to $16.18 per share.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on December 6, 2024.
• Following the transaction, Hayden Brown directly owns 1,183,741 shares of Upwork common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by the CEO under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies. They can be part of a pre-planned diversification strategy or for personal financial planning. The use of a 10b5-1 plan allows insiders to sell shares without being accused of trading on non-public information.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The sale does not appear to have any immediate impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, Hayden Brown, Upwork, UPWK, CEO, Stock Sale, Rule 10b5-1