NELSON ELIZABETH A - 20 May 2024 Form 4 Insider Report for UPWORK, INC (UPWK)

Role
Director
Signature
/s/ Jacob McQuown, Attorney-in-Fact
Issuer symbol
UPWK
Transactions as of
20 May 2024
Net transactions value
-$568,253
Form type
4
Filing time
21 May 2024, 19:04:00 UTC
Previous filing
03 Oct 2023
Next filing
11 Jun 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPWK Common Stock Options Exercise $256,900 +70,000 +215% $3.67 102,616 20 May 2024 Direct
transaction UPWK Common Stock Sale $825,153 -70,000 -68% $11.79 32,616 20 May 2024 Direct F1
holding UPWK Common Stock 384,096 20 May 2024 Held by the Nelson Family Trust

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 Stock Option (Right to Buy) Options Exercise $0 -70,000 -24% $0.000000 225,000 20 May 2024 Common Stock 70,000 $3.67 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.66 to $11.925 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.
F2 The option is fully vested and exercisable.