[Form 4] UiPath, Inc. Insider Trading Activity

Rhea-AI Filing Summary

UiPath insider share sale and holdings disclosure. The Form 4 shows that on 09/25/2025 reporting person Daniel Dines disposed of 122,733 shares of UiPath Class A common stock under transaction code S, at prices ranging from $11.89 to $12.16. The filing states the sale was made under a qualified Rule 10b5-1 selling plan. The report also discloses beneficial ownership through Ice Vulcan Holding Limited, with Mr. Dines retaining sole voting and investment power. The filing includes additional reported holdings of 29,918,585 and 240,000 Class A shares in separate lines as shown.

Positive

• Sale executed under a Rule 10b5-1 plan, indicating preplanned transactions rather than opportunistic insider trading.
• Reporting person retains sole voting and investment power over shares held by Ice Vulcan Holding Limited, indicating continued control.

Negative

• Disposition of 122,733 Class A shares was reported, which increases available supply of shares in the market.
• Shares sold at prices between $11.89 and $12.16, which may reflect insider realization at current price levels.

Insights

Corporate Governance Expert

TL;DR: Insider sale via 10b5-1 plan reduces holdings but governance control appears maintained.

The Form 4 documents a routine Rule 10b5-1 sale of 122,733 Class A shares at a disclosed price range of $11.89–$12.16, indicating preplanned dispositions rather than opportunistic trading. The filing specifies that Mr. Dines retains sole voting and investment power over shares held by Ice Vulcan Holding Limited, which suggests continued control over those holdings. The disclosure is clear on ownership structure without additional corporate actions or changes to governance disclosed in this filing.

Securities Analyst

TL;DR: Sale is material in size but presented as planned; impact on float minimal given large retained holdings.

The sale of 122,733 shares at ~$12 per share generated proceeds in the low millions but is characterized as executed under a qualified 10b5-1 plan. The report lists multiple post-transaction ownership figures including 1,841,002 (indirect) and 29,918,585 (direct) Class A shares and an additional 240,000 held indirectly by a spouse, as shown. This mix of dispositions and substantial reported holdings suggests limited change to overall control but increases publicly available supply by the disclosed sale amount.

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

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

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)
09/25/2025

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	09/25/2025		S		122,733(1)	D	$12.0167(2)	1,841,002	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)
				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 $11.8900 to $12.1600. 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	09/25/2025
	** 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

What did UiPath (PATH) insider Daniel Dines disclose on Form 4?

The Form 4 discloses that Daniel Dines sold 122,733 Class A shares on 09/25/2025 under a qualified 10b5-1 plan at prices ranging from $11.89 to $12.16.

Was the sale by Daniel Dines preplanned or an open-market trade?

The filing states the shares were sold in compliance with a qualified selling plan pursuant to Rule 10b5-1, indicating a preplanned disposition.

How much ownership does Daniel Dines retain according to the filing?

The filing reports post-transaction beneficial ownership figures including 1,841,002 indirect shares (via Ice Vulcan Holding Limited), 29,918,585 Class A shares on a separate line, and 240,000 Class A shares held indirectly by a spouse, as shown in the form.

What was the price range for the reported transactions?

The reported range of prices for the transactions was $11.8900 to $12.1600.

Who holds the shares through Ice Vulcan Holding Limited?

The filing states that IceVulcan Investments Ltd. is the sole shareholder of Ice Vulcan Holding Limited and that Mr. Dines is the sole shareholder of IceVulcan Investments Ltd., with Mr. Dines retaining sole voting and investment power.