Scott Darling - 31 Dec 2022 Form 4 Insider Report for Upstart Holdings, Inc. (UPST)

Role: Chief Legal Officer
Signature: /s/ Christopher Ing, by power of attorney
Issuer symbol: UPST
Transactions as of: 31 Dec 2022
Net transactions value: $0
Form type: 4
Filing time: 04 Jan 2023, 15:11:48 UTC
Previous filing: 08 Dec 2022
Next filing: 23 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UPST	Common Stock	Award	$0	+198,118		$0.000000	198,118	31 Dec 2022	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)	Award	$0	+435,860		$0.000000	435,860	31 Dec 2022	Common Stock	435,860	$13.22	Direct	F3

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

Explanation of Responses:

Id	Content
F1	These securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock. 1/12th of the RSUs shall vest on February 20, 2023 and at the end of each successive three-month period thereafter, subject to the Reporting Person continuing as a service provider through each such date.
F2	These securities are 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	1/48th of the shares subject to the option shall vest on January 20, 2023 and at the end of each successive one-month period thereafter, subject to the Reporting Person continuing as a service provider through each such date.