Paul Gu - Aug 19, 2021 Form 4 Insider Report for Upstart Holdings, Inc. (UPST)

Role: SVP, Product and Data Science, Director
Signature: /s/ Christopher Ing, by power of attorney
Stock symbol: UPST
Transactions as of: Aug 19, 2021
Transactions value $: $27,000
Form type: 4
Date filed: 8/23/2021, 07:47 PM
Previous filing: Aug 18, 2021
Next filing: Sep 17, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UPST	Common Stock	Options Exercise	$27K	+20K	+7.77%	$1.35^*	277K	Aug 19, 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	UPST	Employee Stock Option (Right to buy)	Options Exercise	$0	-20K	-13.33%	$0.00	130K	Aug 19, 2021	Common Stock	20K	$1.35	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 2,000 shares acquired on August 18, 2021 under the Issuer's 2020 Employee Stock Purchase Plan.
F2	Certain of these securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock, subject to the applicable vesting schedule and conditions of each RSU.
F3	This option, originally for 250,000 shares, of which 120,000 shares have been exercised, vested as to one forty-eighth of the shares on February 1, 2017 and one forty-eighth of the shares subject to the option vest each month thereafter, subject to the Reporting Person continuing as a service provider through each such date.