UPWK.NASDAQUpwork, INC

Form 4: Upwork Executive Dave Bottoms Reports Stock Transactions

Sentiment:

SEC Form 4 Filing

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Upwork's GM VP II, Marketplace, Dave Bottoms, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.

Summary

  • Dave Bottoms, GM VP II, Marketplace at Upwork Inc., reported transactions involving Upwork's common stock.
  • On August 18, 2024, 3,750 restricted stock units (RSUs) vested.
  • On August 19, 2024, 1,433 shares were sold at a weighted average price of $9.6482 to cover tax withholding obligations related to the RSU vesting.
  • Following these transactions, Bottoms directly owns 11,636 shares of Upwork common stock and 37,500 RSUs.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.

Stakeholder Impact

  • The transactions have a minor impact on shareholders as they involve the sale of shares by an executive to cover tax obligations.

Key Dates

DateDescription
April 5, 2024Date of Power of Attorney execution.
May 18, 2023Starting date for RSU vesting in equal quarterly installments over four years.
August 18, 2024Date of RSU vesting (3,750 units).
August 19, 2024Date of stock sale (1,433 shares) to cover tax obligations.
August 20, 2024Date of Form 4 filing.

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