Form 4: Upwork CEO Hayden Brown Sells 60,000 Shares Under 10b5-1 Plan

Upwork's CEO, Hayden Brown, executed a sale of 60,000 shares of common stock at an average price of $14.1991 per share, as part of a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 7, 2025, Hayden Brown, the President and CEO of Upwork Inc., sold 60,000 shares of Upwork's common stock.
• The sale was executed at a weighted average price of $14.1991 per share.
• The prices for individual transactions ranged from $13.85 to $14.44 per share.
• The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on December 6, 2024.
• Following the transaction, Brown directly owns 1,215,083 shares of Upwork common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by an executive. The use of a 10b5-1 plan suggests the sale was pre-planned and does not necessarily reflect a negative outlook on the company.

Industry Context

Sales by executives are a normal part of corporate governance. It is important to note that the sale was executed under a pre-arranged 10b5-1 trading plan, which is a common practice to avoid accusations of insider trading.

Stakeholder Impact

• The stock sale could have a minor impact on shareholder sentiment, but the pre-arranged nature of the sale mitigates concerns about insider information.

Key Dates