Alison Nicoll - Jun 24, 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
Jun 24, 2022
Transactions value $
-$591,302
Form type
4
Date filed
6/28/2022, 06:32 PM
Previous filing
Jun 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPST Common Stock Options Exercise $4.5K +7.5K +1.82% $0.60* 420K Jun 24, 2022 Direct F1, F2
transaction UPST Common Stock Options Exercise $8.78K +7.5K +1.78% $1.17* 428K Jun 24, 2022 Direct F1
transaction UPST Common Stock Sale -$605K -15K -3.5% $40.31 413K Jun 24, 2022 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 UPST Employee Stock Option (Right to buy) Options Exercise $0 -7.5K -100% $0.00* 0 Jun 24, 2022 Common Stock 7.5K $0.60 Direct F1, F4
transaction UPST Employee Stock Option (Right to buy) Options Exercise $0 -7.5K -6% $0.00 118K Jun 24, 2022 Common Stock 7.5K $1.17 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option exercises and sale reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 25, 2021.
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 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 $40.99. 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 within this range.
F4 All of the shares subject to this option are fully vested and exercisable as of the date hereof.