Alison Nicoll - May 20, 2022 Form 4 Insider Report for Upstart Holdings, Inc. (UPST)

Role
General Counsel and Secretary
Signature
/s/ Emily Baumbach, by power of attorney
Stock symbol
UPST
Transactions as of
May 20, 2022
Transactions value $
$702,684
Form type
4
Date filed
5/24/2022, 06:12 PM
Previous filing
May 19, 2022
Next filing
May 27, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPST Common Stock Options Exercise $314K +82.5K +30.09% $3.80* 357K May 20, 2022 Direct F1
transaction UPST Common Stock Options Exercise $83K +21.8K +6.13% $3.80* 379K May 20, 2022 Direct
transaction UPST Common Stock Options Exercise $306K +34.5K +9.11% $8.88 413K May 20, 2022 Direct

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 -82.5K -100% $0.00* 0 May 20, 2022 Common Stock 82.5K $3.80 Direct F2
transaction UPST Employee Stock Option (Right to buy) Options Exercise $0 -21.8K -100% $0.00* 0 May 20, 2022 Common Stock 21.8K $3.80 Direct F2
transaction UPST Employee Stock Option (Right to buy) Options Exercise $0 -34.5K -29.26% $0.00 83.3K May 20, 2022 Common Stock 34.5K $8.88 Direct F3
* 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 All of the shares subject to this option are fully vested and exercisable as of the date hereof.
F3 This option, originally for 125,000 shares, of which 41,666 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.