[Form 4] UiPath, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 2 July 2025, UiPath, Inc. (PATH) Chief Executive Officer, Chairman and 10% owner Daniel Dines filed a Form 4 reporting the sale of 45,000 Class A common shares at an average price of $12.5389, generating roughly $0.56 million in proceeds. The disposition was made pursuant to a pre-arranged Rule 10b5-1 trading plan.

Post-transaction, Dines’ beneficial ownership remains substantial:

• 24,918,585 shares held directly
• 5,463,376 shares held indirectly through Ice Vulcan Holding Ltd.
• 240,000 shares held indirectly by his spouse

for an aggregate of approximately 30.6 million shares. No derivative security trades were disclosed.

The sale represents less than 0.15 % of Dines’ reported holdings and does not materially alter his ownership or control position. Because the trade was executed under a 10b5-1 plan, it is generally viewed as routine portfolio management rather than a discretionary valuation call. The filing contains no information regarding the company’s operating performance, strategy, or outlook.

Investors monitoring insider activity may view the modest size and pre-planned nature of this transaction as neutral in terms of near-term share-price implications, while noting that management’s interests remain closely aligned with shareholders due to Dines’ sizeable residual stake.

Positive

• Sale executed under a Rule 10b5-1 plan, reducing concerns over opportunistic insider trading.
• Insider retains approximately 30.6 million shares, maintaining strong alignment with shareholder interests.

Negative

• CEO sold 45,000 shares, which some investors may perceive as a bearish signal, albeit small in scale.
• No insider purchases reported, offering no offsetting positive signal.

Insights

Securities Analyst

TL;DR: CEO’s 45k-share 10b5-1 sale is immaterial to ownership; neutral market signal.

The transaction equates to roughly $0.56 million against a residual 30.6 million-share position. Because it was executed under a qualified 10b5-1 plan, the trade carries limited information value and does not suggest a change in management’s confidence. Dines remains one of PATH’s largest shareholders, preserving strong alignment with public investors. From a valuation standpoint, I classify the event as non-impactful and maintain a neutral stance.

Corporate Governance Expert

TL;DR: Routine, pre-scheduled insider sale; governance risk unchanged.

Rule 10b5-1 plans are specifically designed to mitigate insider-trading risk. The reported sale size is modest relative to Dines’ total stake and does not raise red flags about possible information asymmetries. No derivative activity or unusual timing is evident. Overall governance profile remains stable, and the filing is considered standard compliance rather than a strategic signal.

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).

X

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 NY 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)
07/02/2025

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/02/2025		S		45,000(1)	D	$12.5389(2)	5,463,376	I	See Footnote(3)
Class A Common Stock								24,918,585	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

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 $12.4000 to $12.6900. 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	07/02/2025
	** 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.

FAQ

How many UiPath (PATH) shares did CEO Daniel Dines sell on July 2, 2025?

He sold 45,000 Class A common shares.

What was the price range for the PATH shares sold?

The sale prices ranged from $12.40 to $12.69, with an average of $12.5389.

How many PATH shares does Daniel Dines still own after the transaction?

He beneficially owns about 30.6 million shares (24.9 M direct, 5.46 M indirect via Ice Vulcan, 0.24 M via spouse).

Was the insider sale made under a Rule 10b5-1 plan?

Yes. The filing states the shares were sold under a qualified Rule 10b5-1 trading plan.

Does the Form 4 disclose any derivative security transactions?

No. The filing lists no acquisitions or disposals of derivative securities.

What percentage of his holdings did the CEO sell?

The 45,000-share sale represents less than 0.15 % of his reported beneficial ownership.