Were any of Erika Ashley Fisher’s HubSpot (HUBS) share dispositions tax-related?

Yes. A disposition of 514 shares was classified under code F and footnoted as shares withheld by HubSpot to cover taxes associated with settlement of restricted stock units, rather than an open-market sale.

HubSpot (HUBS) CLO sells 915 shares, 514 withheld for taxes

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

HubSpot Inc. Chief Legal Officer Erika Ashley Fisher sold shares and had stock withheld for taxes in recent transactions. On May 4, she completed an open-market sale of 915 shares of common stock at $236.66 per share, executed under a Rule 10b5-1 trading plan adopted on September 2, 2025.

On May 1, 514 shares were withheld by HubSpot to cover taxes tied to the settlement of restricted stock units, which is not an open-market sale. After these transactions, Fisher directly holds 16,270 shares of HubSpot common stock.

Insider Trade Summary 10b5-1

Net Seller: 915 shares ($216,544)

Net Sell 2 txns

Insider FISHER ERIKA ASHLEY

Role Chief Legal Officer

Sold 915 shs ($217K)

Type	Security	Shares	Price	Value
Sale	Common Stock	915	$236.66	$217K
Tax Withholding	Common Stock	514	$239.89	$123K

Holdings After Transaction: Common Stock — 16,270 shares (Direct, null)

Footnotes (1)

Shares withheld by Issuer to cover taxes associated with settlement of restricted stock units. This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 9/2/2025.

Key Figures

Open-market sale shares: 915 shares Sale price per share: $236.66 per share Tax-withheld shares: 514 shares +3 more

6 metrics

Open-market sale shares 915 shares Common Stock sold on May 4, 2026

Sale price per share $236.66 per share Open-market sale of 915 shares

Tax-withheld shares 514 shares Shares withheld on May 1, 2026 for RSU taxes

Tax-withholding reference price $239.89 per share Price associated with 514-share tax withholding

Shares held after sale 16,270 shares Direct HubSpot holdings after reported transactions

Tax-withholding total shares 514 shares Dispositions classified under code F in summary

Key Terms

Rule 10b5-1 trading plan, restricted stock units, open-market sale, tax-withholding disposition

4 terms

Rule 10b5-1 trading plan financial

"This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 9/2/2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

restricted stock units financial

"Shares withheld by Issuer to cover taxes associated with settlement of restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

tax-withholding disposition financial

"transaction_action": "tax-withholding disposition""

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

Form 4 Insider Transactions: What Each Field Means →

05/05/2026 - 04:44 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

FISHER ERIKA ASHLEY

(Last)

(First)

(Middle)

2 CANAL PARK

(Street)

CAMBRIDGE

MASSACHUSETTS

02141

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HUBSPOT INC [ HUBS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/01/2026		F⁽¹⁾		514	D	$239.89	17,185	D
Common Stock	05/04/2026		S⁽²⁾		915	D	$236.66	16,270	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Shares withheld by Issuer to cover taxes associated with settlement of restricted stock units.

2. This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 9/2/2025.

	/s/ Michal Flombaum, attorney-in-fact	05/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did HubSpot (HUBS) report for Erika Ashley Fisher?

HubSpot reported that Chief Legal Officer Erika Ashley Fisher sold 915 shares of common stock in an open-market transaction and had 514 shares withheld by the company to cover taxes from restricted stock unit settlement.

How many HubSpot (HUBS) shares did the CLO sell and at what price?

Erika Ashley Fisher sold 915 shares of HubSpot common stock at $236.66 per share. This was an open-market transaction reported with code S, indicating a sale in the market or similar private transaction.

How many HubSpot (HUBS) shares does the CLO hold after these transactions?

Following the reported transactions, Erika Ashley Fisher directly holds 16,270 shares of HubSpot common stock. This figure reflects her position after both the open-market sale and the separate tax-withholding share disposition.

Was the HubSpot (HUBS) insider sale made under a Rule 10b5-1 trading plan?

Yes. The Form 4 footnote states the transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on September 2, 2025, indicating the sale was pre-arranged rather than newly decided at the time of execution.

What do the S and F transaction codes mean in the HubSpot (HUBS) Form 4?

Code S denotes an open-market or private sale of common stock, here covering 915 shares. Code F indicates 514 shares were disposed of to pay tax obligations by delivering shares, in this case withheld by HubSpot upon restricted stock unit settlement.