Form 4: Upwork CFO Erica Gessert Reports Stock Transactions
SEC Form 4 Filing
Erica Gessert, CFO of Upwork, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On September 18, 2024, Erica Gessert, the Chief Financial Officer of Upwork, had 8,433 restricted stock units (RSUs) vest.
- Following the vesting, Gessert sold 4,491 shares of common stock at a weighted average price of $10.5711 per share to cover tax withholding obligations.
- The sales occurred in multiple transactions with prices ranging from $10.41 to $10.87 per share.
- After these transactions, Gessert directly owns 111,255 shares of Upwork common stock and 118,061 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with neutral sentiment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions and provides transparency to the market regarding the trading activities of Upwork's CFO.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but it is unlikely to be significant given the relatively small volume.
Key Dates
| Date | Description |
|---|---|
| 09/18/2024 | Date of RSU vesting and stock sale. |
| 09/20/2024 | Date of signature on the Form 4 filing. |
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