[Form 4] UiPath, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Daniel Dines, CEO and Chairman of UiPath, Inc. (PATH) reported the sale of 122,733 shares of Class A common stock on 10/01/2025 under a qualified Rule 10b5-1 selling plan. The reported sale prices ranged from $13.2100 to $13.5600. The filing shows beneficial ownership through Ice Vulcan Holding Limited and related entities: following the reported transaction(s) the filing lists 1,350,070 shares beneficially owned indirectly and additional reported holdings of 29,918,585 shares and 240,000 shares noted as direct or indirect on separate lines. The filing was signed by an attorney-in-fact and includes explanatory footnotes about the 10b5-1 plan and ownership structure.

Positive

• Transaction disclosed under a Rule 10b5-1 plan, indicating sales were prearranged and reducing potential concerns about opportunistic insider trading
• Ownership chain and voting/investment power are clearly disclosed, showing who ultimately controls the relevant shares

Negative

• Insider sale of 122,733 shares represents a reduction in reported holdings, which may be noticed by investors
• Filing lists multiple large ownership lines without reconciliation (1,350,070 indirect; 29,918,585 direct; 240,000 indirect), which could confuse readers seeking a single consolidated beneficial ownership figure

Insights

Securities Analyst

Insider sale under a 10b5-1 plan; ownership remains concentrated through holding entities.

The Form 4 documents a transaction executed pursuant to a pre-established Rule 10b5-1 plan, which indicates the sales were planned rather than opportunistic trades. The filing states a sale of 122,733 Class A shares at prices between $13.21 and $13.56 and details a multi-tier ownership structure involving Ice Vulcan Holding Limited and IceVulcan Investments Ltd., with Mr. Dines retaining sole voting and investment power. The disclosure maintains regulatory compliance and clarifies control despite the sale.

Corporate Governance Expert

Disclosure clarifies insider holdings and control; sale executed by plan reduces ambiguity for compliance.

The filing provides a clear chain of ownership where Ice Vulcan Holding Limited holds shares and Mr. Dines is the ultimate sole shareholder of the intermediary entity. The explicit statement that the sale was made under a qualified 10b5-1 plan reduces questions about trading intent. The Form 4 also records multiple classes/lines of holdings, which is useful for transparency about direct versus indirect ownership.

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)
10/01/2025

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	10/01/2025		S		122,733(1)	D	$13.326(2)	1,350,070	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 $13.2100 to $13.5600. 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	10/01/2025
	** 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 Daniel Dines (PATH) report on Form 4 dated 10/01/2025?

He reported the sale of 122,733 shares of Class A common stock on 10/01/2025 under a qualified Rule 10b5-1 selling plan.

At what prices were the PATH shares sold according to the Form 4?

The reported sale prices ranged from $13.2100 to $13.5600 per share.

How does the Form 4 describe Daniel Dines' relationship to UiPath (PATH)?

The filing lists him as Director, CEO and Chairman, and a 10% owner of the issuer.

Who holds the shares and who controls the voting and investment power?

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

Does the Form 4 indicate the sale was part of a pre-existing plan?

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