Filing Details
- Accession Number:
- 0001209191-20-038257
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2020-06-22 17:49:54
- Reporting Period:
- 2020-06-18
- Accepted Time:
- 2020-06-22 17:49:54
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1627475 | Upwork Inc. | UPWK | Services-Computer Processing & Data Preparation (7374) | 464337682 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1753662 | Hayden Brown | C/O Upwork Inc. 2625 Augustine Drive, Suite 601 Santa Clara CA 95054 | President & Ceo | Yes | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2020-06-18 | 3,860 | $0.00 | 347,919 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2020-06-18 | 54,395 | $0.00 | 402,314 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2020-06-18 | 23,858 | $11.92 | 378,456 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Restricted Stock Units (RSU) | Disposition | 2020-06-18 | 3,860 | $0.00 | 3,860 | $0.00 |
| Common Stock | Restricted Stock Units (RSU) | Disposition | 2020-06-18 | 54,395 | $0.00 | 54,395 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 42,460 | No | 4 | M | Direct | ||
| 761,532 | No | 4 | M | Direct |
Footnotes
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- Includes 2,110 shares acquired under the Issuer's employee stock purchase plan on May 14, 2020.
- Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of the RSUs listed in Table II. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
- The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.79 to $12.20 per share, inclusive. 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 written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- 6.25% of the total shares vested on June 18, 2019, and then 6.25% of the total shares vest on each quarterly anniversary thereafter, subject to the Reporting Person's continued employment with the Issuer.
- 6.25% of the total shares vested on March 18, 2020, and then 6.25% of the total shares vest on each quarterly anniversary thereafter, subject to the Reporting Person's continued employment as the Chief Executive Officer of the Issuer.
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