Upwork (NASDAQ: UPWK) CFO exercises RSUs and sells 9,278 shares to cover taxes
Rhea-AI Filing Summary
Upwork, Inc. Chief Financial Officer Erica Gessert reported routine equity compensation activity involving restricted stock units and common stock. On March 18, 2026, she exercised restricted stock units covering 8,433 and 9,699 shares, receiving the same number of common shares at a conversion price of $0.00 per share.
On the same date, 9,278 shares of common stock were sold at a weighted average price of $12.312 per share, pursuant to a mandatory “sell to cover” arrangement to satisfy tax withholding obligations, as required under Upwork’s equity incentive plans. Following these transactions, Gessert directly held 307,240 shares of common stock. The restricted stock units vest in equal quarterly installments over four years beginning on June 18, 2024 and June 18, 2025, subject to her continued employment.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 8,433 | $0.00 | -- |
| Exercise | Restricted Stock Units | 9,699 | $0.00 | -- |
| Exercise | Common Stock | 8,433 | $0.00 | -- |
| Exercise | Common Stock | 9,699 | $0.00 | -- |
| Sale | Common Stock | 9,278 | $12.312 | $114K |
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. 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 $12.13 to $12.52 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. The RSUs vest in equal quarterly installments over four years beginning on June 18, 2024, subject to the continuing employment of the Reporting Person with the Issuer on each vesting date. The RSUs vest in equal quarterly installments over four years beginning on June 18, 2025, subject to the continuing employment of the Reporting Person with the Issuer on each vesting date.
