PATH CEO Dines sells 29.9M shares via 10b5-1 plan at ~$16.5

Q: How much beneficial ownership does Daniel Dines retain after the transactions?

The filing shows indirect beneficial ownership of 613,670 shares and an additional 240,000 shares held indirectly by his spouse via related entities.

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

UiPath insider sale reported by CEO and Chairman Daniel Dines. The filing shows that on 10/09/2025 Mr. Dines (reporting person) caused the sale of multiple blocks of Class A Common Stock, including a discrete disposal of 29,918,585 shares and a separate sale of 122,734 shares at an average price range of $16.21 to $16.98 (reported price point $16.5743). The Form 4 states the trades were executed under a Rule 10b5-1 selling plan. After the reported transactions, Mr. Dines retains indirect beneficial ownership of 613,670 shares and a separate indirect holding of 240,000 shares held by his spouse via related entities, with voting and investment power retained through Ice Vulcan entities.

Positive

Sales executed under a Rule 10b5-1 plan, indicating pre-planned transactions and disclosed compliance
Reporting person retains voting and investment power via Ice Vulcan entities after disposals

Negative

Large disposition of 29,918,585 Class A shares on 10/09/2025, a materially sizable sale
Reported sale volume at mid-teens prices ($16.21–$16.98), which may reduce direct economic stake

Insights

TL;DR: The CEO sold large blocks under a 10b5-1 plan while retaining control via related entities.

The disclosed transactions show large disposals of Class A shares on 10/09/2025, including 29,918,585 shares and an additional sale of 122,734 shares executed at prices between $16.21 and $16.98. The filing explicitly states the sales were made under a Rule 10b5-1 plan, which provides an affirmative defense for pre‑planned insider sales.

The reporting person continues to hold indirect ownership and retains sole voting and investment power through Ice Vulcan entities, which preserves governance influence despite the disposals. Near term, monitor any further Form 4 filings that modify holdings or disclose additional 10b5-1 plan terms or termination.

Insider Trade Summary

Net Seller: 122,734 shares ($2,034,230)

Net Sell 3 txns

Insider Dines Daniel

Role CEO and Chairman

Sold 122,734 shs ($2.03M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	122,734	$16.5743	$2.03M
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 613,670 shares (Indirect, See Footnote); Class A Common Stock — 29,918,585 shares (Direct)

Footnotes (1)

These shares were sold in compliance with a qualified selling plan adopted by the Reporting Person pursuant to Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended. The range of prices for the transactions reported was from $16.2100 to $16.9800. The Reporting Person will provide, upon request by the Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares purchased or sold at each separate price. 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.

Form 4 Insider Transactions: What Each Field Means →

10/09/2025 - 04:32 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^*

Dines Daniel

(Last)

(First)

(Middle)

C/O UIPATH, INC., ONE VANDERBILT AVENUE

60TH FLOOR

(Street)

NEW YORK

10017

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
UiPath, Inc. [ PATH ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and Chairman

3. Date of Earliest Transaction (Month/Day/Year)
10/09/2025

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

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

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

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)
Class A Common Stock	10/09/2025		S		122,734⁽¹⁾	D	$16.5743⁽²⁾	613,670	I	See Footnote⁽³⁾
Class A Common Stock								29,918,585	D
Class A Common Stock								240,000	I	by Spouse

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. These shares were sold in compliance with a qualified selling plan adopted by the Reporting Person pursuant to Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended.

2. The range of prices for the transactions reported was from $16.2100 to $16.9800. The Reporting Person will provide, upon request by the Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares purchased or sold at each separate price.

3. 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.

Remarks:

	/s/ Brad Brubaker, Attorney-in-Fact	10/09/2025
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did UiPath CEO Daniel Dines report on Form 4 (PATH)?

He reported dispositions of Class A Common Stock on 10/09/2025, including a sale of 29,918,585 shares and a separate sale of 122,734 shares under a Rule 10b5-1 plan.

Were the sales part of a planned selling program for PATH?

Yes. The Form 4 states the shares were sold in compliance with a qualified selling plan adopted pursuant to Rule 10b5-1.

What price range was disclosed for the reported sales of PATH shares?

The filing lists a transaction price range from $16.21 to $16.98, with a reported price of $16.5743 for one lot.

How much beneficial ownership does Daniel Dines retain after the transactions?

The filing shows indirect beneficial ownership of 613,670 shares and an additional 240,000 shares held indirectly by his spouse via related entities.

Who holds the shares and who controls voting rights after the sale?

The shares are held by Ice Vulcan Holding Limited; IceVulcan Investments Ltd. is its sole shareholder and Mr. Dines is the sole shareholder of that entity, retaining sole voting and investment power.