Hayden Brown - Aug 10, 2021 Form 4 Insider Report for UPWORK, INC (UPWK)

Role
President & CEO, Director
Signature
/s/ Jacob McQuown, Attorney-in-Fact
Stock symbol
UPWK
Transactions as of
Aug 10, 2021
Transactions value $
-$829,410
Form type
4
Date filed
8/12/2021, 07:18 PM
Previous filing
Jul 20, 2021
Next filing
Aug 20, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPWK Common Sock Options Exercise $73.6K +20K +2.86% $3.68 719K Aug 10, 2021 Direct
transaction UPWK Common Sock Sale -$751K -16.7K -2.32% $45.00 702K Aug 10, 2021 Direct F1, F2
transaction UPWK Common Sock Sale -$152K -3.3K -0.47% $45.92 699K Aug 10, 2021 Direct F1, F3

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 -20K -6.63% $0.00 282K Aug 10, 2021 Common Sock 20K $3.68 Direct F4
* 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 $44.46 to $45.45 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 reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.59 to $46.49 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.
F4 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.