Filing Details

Accession Number:
0001209191-22-047087
Form Type:
4
Zero Holdings:
No
Publication Time:
2022-08-22 19:29:36
Reporting Period:
2022-08-18
Accepted Time:
2022-08-22 19:29:36
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
1819126 Jeff Mccombs C/O Upwork Inc.,
475 Brannan Street, Suite 430
San Francisco CA 94107
Chief Financial Officer No 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 2022-08-18 732 $0.00 14,160 No 4 M Direct
Common Stock Acquisiton 2022-08-18 1,471 $0.00 15,631 No 4 M Direct
Common Stock Acquisiton 2022-08-18 7,135 $0.00 22,766 No 4 M Direct
Common Stock Disposition 2022-08-18 4,078 $18.54 18,688 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
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) Acquisiton 2022-08-18 12,171 $0.00 12,171 $0.00
Common Stock Restricted Stock Units (RSU) Disposition 2022-08-18 732 $0.00 732 $0.00
Common Stock Restricted Stock Units (RSU) Disposition 2022-08-18 1,471 $0.00 1,471 $0.00
Common Stock Restricted Stock Units (RSU) Disposition 2022-08-18 7,135 $0.00 7,135 $0.00
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
12,171 No 4 A Direct
7,324 No 4 M Direct
14,719 No 4 M Direct
99,886 No 4 M Direct
Footnotes
  1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
  2. 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.
  3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.43 to $18.59 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.
  4. The RSUs vest in equal quarterly installments on each quarterly anniversary, beginning on November 18, 2022 over four quarters of continuous service,subject to the continuing employment of the Reporting Person with the Issuer on each vesting date.
  5. The RSUs vest 25% on February 18, 2022, 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 on each vesting date.
  6. The RSUs vest in equal quarterly installments over four years beginning on May 18, 2021, subject to the continuing employment of the Reporting Person with the Issuer on each vesting date.
  7. The RSUs vest in equal quarterly installments over four years beginning on May 18, 2022, subject to the continuing employment of the Reporting Person with the Issuer on each vesting date.