UiPath CEO converts 5M Class B into Class A
Rhea-AI Filing Summary
UiPath, Inc. (PATH) reported that on September 8, 2026, entities associated with CEO and Chairman Daniel Dines converted 5,000,000 shares of Class B Common Stock held by Ice Vulcan Holding Limited into 5,000,000 shares of Class A Common Stock, on a one-for-one basis with no expiration. Ice Vulcan Holding Limited, ultimately controlled by Mr. Dines, continued to hold 59,690,706 shares of Class B Common Stock indirectly after the conversion. On the same date, 5,000,000 shares of Class A Common Stock were transferred from Ice Vulcan Holding Limited to IceVulcan Investments Ltd., in connection with IceVulcan Investments Ltd.'s trading plan adopted on July 15, 2026 and intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Following these internal transfers, Mr. Dines is reported as holding 31,491,238 shares of Class A Common Stock directly, while retaining sole voting and investment power over shares held through the related entities.
Positive
- None.
Negative
- None.
Insider Trade Summary
5,000,000 shares exercised/converted
Exercise
4 txns
Insider
Dines Daniel
Role
CEO and Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock F2, F1, F3 | 5,000,000 | $0.00 | $0.00 |
| Conversion | Class A Commmon Stock F1, F2, F3 | 5,000,000 | $0.00 | $0.00 |
| Other | Class A Commmon Stock F4, F3 | 5,000,000 | $0.00 | $0.00 |
| Other | Class A Commmon Stock F4 | 5,000,000 | $0.00 | $0.00 |
Holdings After Transaction:
Class B Common Stock — 59,690,706 contracts (Indirect, See Footnote);
Class A Commmon Stock — 0 shares (Indirect, See Footnote);
Class A Commmon Stock — 31,491,238 shares (Direct)
Footnotes (4)
- F1. On September 8, 2026, 5,000,000 shares of Class B Common Stock held by Ice Vulcan Holding Limited, an entity controlled by Daniel Dines, CEO, Founder, and Chairman of the Issuer, were converted to 5,000,000 shares of Class A Common Stock.
- F2. Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock of the Issuer and has no expiration date.
- F3. The shares are held by Ice Vulcan Holding Limited. IceVulcan Investments Ltd. is the sole shareholder of Ice Vulcan Holding Limited, and Mr. Dines is the sole shareholder of IceVulcan Investments Ltd. Mr. Dines retains sole voting and investment power with respect to the shares of Class A Common Stock and Class B Common Stock held by Ice Vulcan Holding Limited.
- F4. On September 8, 2026, 5,000,000 shares of Class A Common Stock held by Ice Vulcan Holding Limited were transferred to IceVulcan Investments Ltd. in connection with IceVulcan Investments Ltd.'s adoption, on July 15, 2026, of a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.
Key Figures
Class B shares converted: 5,000,000 shares
Class A shares received on conversion: 5,000,000 shares
Class B shares indirectly held after conversion: 59,690,706 shares
+3 more
6 metrics
Class B shares converted
5,000,000 shares
Class B Common Stock converted into Class A on September 8, 2026
Class A shares received on conversion
5,000,000 shares
Class A Common Stock issued upon conversion of Class B on September 8, 2026
Class B shares indirectly held after conversion
59,690,706 shares
Class B Common Stock held by Ice Vulcan Holding Limited after September 8, 2026
Class A shares transferred between entities
5,000,000 shares
Class A Common Stock moved from Ice Vulcan Holding Limited to IceVulcan Investments Ltd. on September 8, 2026
Class A shares held directly after transactions
31,491,238 shares
Direct Class A Common Stock holdings reported for Daniel Dines after September 8, 2026
Rule 10b5-1 trading plan adoption date
July 15, 2026
Adoption date of IceVulcan Investments Ltd. plan referenced in the transfer
Key Terms
Class B Common Stock, Class A Common Stock, Rule 10b5-1(c), trading plan, +1 more
5 terms
Class B Common Stock financial
"5,000,000 shares of Class B Common Stock held by Ice Vulcan Holding Limited"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock financial
"were converted to 5,000,000 shares of Class A Common Stock"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Rule 10b5-1(c) regulatory
"intended to satisfy the affirmative defense conditions of Rule 10b5-1(c)"
Rule 10b5-1(c) is an SEC guideline that lets company insiders set up a written, pre-planned schedule to buy or sell their company stock when they are not in possession of material, nonpublic information. For investors, it matters because such plans can reduce the appearance of insider trading by separating decisions from inside knowledge—like putting your trades on autopilot—while also requiring scrutiny since pre-planned trades can still affect market confidence and share value.
trading plan financial
"adoption, on July 15, 2026, of a trading plan intended to satisfy"
A trading plan is a written set of rules an investor follows about what to buy or sell, when to enter and exit positions, and how much risk to accept—like a travel itinerary that maps the route, stops, and budget before a trip. It matters because it helps remove emotional decisions during market swings, enforces discipline, and makes performance easier to review and improve, reducing the chance of costly impulsive moves.
voting and investment power financial
"Mr. Dines retains sole voting and investment power with respect to the shares"
FAQ
What insider transactions did PATH CEO Daniel Dines report on September 8, 2026?
On September 8, 2026, entities associated with Daniel Dines converted 5,000,000 Class B shares into 5,000,000 Class A shares and transferred 5,000,000 Class A shares between related entities, with no open-market purchases or sales reported.
Was a Rule 10b5-1 trading plan involved in Daniel Dines’ PATH transactions?
Yes. A related entity, IceVulcan Investments Ltd., adopted a trading plan on July 15, 2026 intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), and the 5,000,000-share Class A transfer occurred in connection with that plan.
Did Daniel Dines’ September 2026 PATH filings report any open-market sales or purchases?
No. The Form 4 reports a conversion of 5,000,000 Class B shares into Class A and internal transfers of 5,000,000 Class A shares between entities associated with Daniel Dines, with no open-market sales or purchases disclosed.
What is the conversion feature of UiPath (PATH) Class B Common Stock mentioned in the filing?
Each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock of UiPath, Inc., and the Class B shares have no expiration date according to the disclosure.
AI-generated analysis. How Rhea-AI works. Not financial advice.
