Hayden Brown - 23 Jun 2021 Form 4 Insider Report for UPWORK, INC (UPWK)

Signature
/s/ Jacob McQuown, Attorney-in-Fact
Issuer symbol
UPWK
Transactions as of
23 Jun 2021
Net transactions value
-$3,898,216
Form type
4
Filing time
25 Jun 2021, 19:44:57 UTC
Previous filing
22 Jun 2021
Next filing
20 Jul 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPWK Common Sock Options Exercise $279,375 +75,917 +11% $3.68 773,643 23 Jun 2021 Direct
transaction UPWK Common Sock Sale $4,177,591 -75,917 -9.8% $55.03 697,726 23 Jun 2021 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction UPWK Employee Stock Option (right to buy) Options Exercise $0 -75,917 -20% $0.000000 301,709 23 Jun 2021 Common Sock 75,917 $3.68 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $55.00 to $55.23 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 The options vested with respect to 1/60th of the total shares on October 26, 2017, and then 1/60th of the total shares vest monthly thereafter, subject to the continuing employment of the Reporting Person on each vesting date.