Alison Nicoll - May 13, 2022 Form 4 Insider Report for Upstart Holdings, Inc. (UPST)

Role
General Counsel and Secretary
Signature
/s/ Christopher Ing, by power of attorney
Stock symbol
UPST
Transactions as of
May 13, 2022
Transactions value $
$247,510
Form type
4
Date filed
5/17/2022, 08:06 PM
Previous filing
May 6, 2022
Next filing
May 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPST Common Stock Options Exercise $129K +60K +32.17% $2.15* 246K May 13, 2022 Direct F1
transaction UPST Common Stock Options Exercise $66.5K +17.5K +7.1% $3.80* 264K May 13, 2022 Direct
transaction UPST Common Stock Options Exercise $12K +3.15K +1.2% $3.80* 267K May 13, 2022 Direct
transaction UPST Common Stock Options Exercise $63.8K +7.19K +2.69% $8.88 274K May 13, 2022 Direct
transaction UPST Common Stock Options Exercise $360 +600 +0.22% $0.60* 275K May 16, 2022 Direct F2
transaction UPST Common Stock Sale -$24.1K -600 -0.22% $40.09 274K May 16, 2022 Direct F2, 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 UPST Employee Stock Option (Right to buy) Options Exercise $0 -60K -100% $0.00* 0 May 13, 2022 Common Stock 60K $2.15 Direct F4
transaction UPST Employee Stock Option (Right to buy) Options Exercise $0 -17.5K -17.5% $0.00 82.5K May 13, 2022 Common Stock 17.5K $3.80 Direct F4
transaction UPST Employee Stock Option (Right to buy) Options Exercise $0 -3.15K -12.61% $0.00 21.8K May 13, 2022 Common Stock 3.15K $3.80 Direct F4
transaction UPST Employee Stock Option (Right to buy) Options Exercise $0 -7.19K -5.75% $0.00 118K May 13, 2022 Common Stock 7.19K $8.88 Direct F5
transaction UPST Employee Stock Option (Right to buy) Options Exercise $0 -600 -1.33% $0.00 44.4K May 16, 2022 Common Stock 600 $0.60 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 This option exercise and the sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 25, 2021.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.00 to $40.22. 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 request, full information regarding the number of shares sold at each separate price.
F4 All of the shares subject to this option are fully vested and exercisable as of the date hereof.
F5 This option, originally for 125,000 shares, of which 7,190 shares have been exercised, vested as to one-twelfth of the shares on February 1, 2022 and one-twelfth 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.