Paul Gu - 02 Sep 2025 Form 4 Insider Report for Upstart Holdings, Inc. (UPST)

Reporting relationship: Chief Technology Offier, Director
Issuer ticker: UPST
Reported as of: 02 Sep 2025
Net transaction value: -$343,059
SEC form: 4
Accepted by SEC: 04 Sep 2025, 17:48:21 UTC
Prior SEC filing: 20 Jun 2025
Next SEC filing: 13 Nov 2025
Source filing: View source filing
Reporting owner signature: /s/ Steven Madrid, by power of attorney

Key filing fact

Paul Gu filed Form 4 for Upstart Holdings, Inc. (UPST) on 04 Sep 2025.

Key facts

This page summarizes Paul Gu's Form 4 filing for Upstart Holdings, Inc. (UPST).
6 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 04 Sep 2025, 17:48.

Change

Previous filing in this sequence was filed on 20 Jun 2025.
Current net transaction value: -$343,059.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001832812 Primary reporting owner

Gu Paul

Relationship: Chief Technology Offier, Director
Address: C/O UPSTART HOLDINGS, INC., 2950 S. DELAWARE STREET, SUITE 410, SAN MATEO
Signature: /s/ Steven Madrid, by power of attorney
Signature date: 04 Sep 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

UPST transaction

Common Stock

Options Exercise

Transaction value: $9,500
Shares: +2,500
Change %: +0.22%
Price: $3.80
Shares after: 1,149,656
Date: 02 Sep 2025
Ownership: Direct
Footnotes: F1, F2

UPST transaction

Common Stock

Options Exercise

Transaction value: $22,200
Shares: +2,500
Change %: +0.22%
Price: $8.88
Shares after: 1,152,156
Date: 02 Sep 2025
Ownership: Direct
Footnotes: F1

UPST transaction

Common Stock

Sale

Transaction value: $182,021
Shares: -2,663
Change %: -0.23%
Price: $68.35
Shares after: 1,149,493
Date: 02 Sep 2025
Ownership: Direct
Footnotes: F1, F3

UPST transaction

Common Stock

Sale

Transaction value: $161,038
Shares: -2,337
Change %: -0.2%
Price: $68.91
Shares after: 1,147,156
Date: 02 Sep 2025
Ownership: Direct
Footnotes: F1, F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

UPST transaction Derivative

Employee Stock Option (Right to buy)

Options Exercise

Transaction value: $9,500
Shares: -2,500
Change %: -5.6%
Price: $3.80
Shares after: 42,500
Date: 02 Sep 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 2,500
Exercise price: $3.80
Footnotes: F5

UPST transaction Derivative

Employee Stock Option (Right to buy)

Options Exercise

Transaction value: $22,200
Shares: -2,500
Change %: -1.4%
Price: $8.88
Shares after: 181,336
Date: 02 Sep 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 2,500
Exercise price: $8.88
Footnotes: F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 5 footnotes

Footnote F1

The option exercise and sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 21, 2025.

Footnote 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.

Footnote F3

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.795 to $68.78. 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.

Footnote F4

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.80 to $69.125. 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.

Footnote F5

All of the shares subject to this option are fully vested and exercisable as of the date hereof.