Sanjay Datta - Feb 21, 2023 Form 4 Insider Report for Upstart Holdings, Inc. (UPST)

Role
Chief Financial Officer
Signature
/s/ Christopher Ing, by power of attorney
Stock symbol
UPST
Transactions as of
Feb 21, 2023
Transactions value $
-$246,064
Form type
4
Date filed
2/23/2023, 04:05 PM
Previous filing
Feb 15, 2023
Next filing
Mar 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPST Common Stock Options Exercise $4.32K +3.2K +1.1% $1.35* 295K Feb 21, 2023 Direct F1, F2, F3
transaction UPST Common Stock Sale -$56.8K -3.2K -1.09% $17.74 291K Feb 21, 2023 Direct F1
transaction UPST Common Stock Sale -$194K -10.7K -3.66% $18.14 281K Feb 21, 2023 Direct F4, F5

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 -3.2K -5.6% $0.00 53.9K Feb 21, 2023 Common Stock 3.2K $1.35 Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option exercise and sale reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 30, 2022.
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 Includes 757 shares acquired on February 15, 2023 under the Issuer's 2020 Employee Stock Purchase Plan.
F4 These shares were sold to cover tax withholding obligations in connection with the vesting of RSUs.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.97 to $18.33. 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.
F6 All of the shares subject to this option are fully vested and exercisable as of the date hereof.