[Form 4] Uber Technologies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

UBS AG is offering $2.001 million of Trigger Autocallable Contingent Yield Notes that mature on 14 July 2027. The notes are linked to the least-performing of two underlying assets: (1) the common stock of NextEra Energy, Inc. (NEE) and (2) the S&P 500® Index (SPX).

Key economic terms

• Issue price: $1,000 per note; CUSIP 90309KDF8
• Contingent coupon rate: 8.85 % p.a. (monthly $7.375 if payable)
• Coupon barrier: 55 % of each initial level
    • NEE $40.51
    • SPX 3,444.79
• Automatic call: monthly observations beginning after 14 months; callable when each underlying ≥ 100 % of its initial level
• Downside threshold (55 % of initial level): identical to coupon barrier
• Initial levels (strike date 9-Jul-2025): NEE $73.65; SPX 6,263.26
• Estimated initial value: $979.70 (reflects underwriting discount $4.00 and internal funding adjustments)

Payment mechanics

• Coupons: Paid only if both underlyings close ≥ their respective coupon barriers on an observation date. If any underlying is below its barrier, the coupon for that month is forfeited.
• Automatic call: If both underlyings close ≥ their call thresholds (100 % of initial level) on any observation date after month 14, investors receive principal plus the applicable coupon and the notes terminate early.
• Maturity: • If no call and both underlyings ≥ downside thresholds, principal is repaid.
  • If no call and any underlying < downside threshold, redemption amount = principal × (1 + return of worst-performing asset). Investors may lose up to 100 % of principal.

Risk highlights

• Full downside exposure: If either underlying falls > 45 % from its initial level at final valuation, repayment is proportionally reduced.
• Credit risk: All payments depend on the senior unsecured credit of UBS AG; the notes are not FDIC-insured.
• Liquidity: The notes will not be listed; secondary market making is discretionary and may reflect significant bid-ask spreads.
• Valuation gap: Issue price exceeds estimated initial value by $20.30 per note due to fees and hedging costs.

Timeline

• Strike: 9-Jul-2025  |  Trade: 10-Jul-2025  |  Settle: 15-Jul-2025 (T+3)
• Monthly observation dates through 9-Jul-2027
• Maturity / final payment: 14-Jul-2027

Offering details

• Total proceeds to UBS: $1,992,996; underwriting discount: $8,004
• Dealer: UBS Securities LLC, with re-allowance to third-party dealers

Suitability: Product targets investors who (i) can tolerate loss of principal, (ii) seek high conditional income, (iii) are comfortable with performance of both NEE and the S&P 500, and (iv) understand that coupons are not guaranteed and that early redemption may occur.

Insights

Structured-Products Analyst

TL;DR — High coupon note offers 8.85 % p.a. but full downside if NEE or SPX falls >45 %; limited size, neutral to UBS.

The supplement outlines a small ($2 million) tranche of two-year autocallables. From an investor perspective, the 100 % call trigger after month 14 increases the chance of early redemption, capping income at roughly 14-15 months if markets remain strong. The identical 55 % coupon barrier and downside threshold leave no extra cushion at maturity versus monthly observations—any breach forfeits coupons and risks capital. The high 8.85 % coupon compensates for uncapped downside exposure, illiquidity, and the issuer’s credit risk. Because proceeds are immaterial to UBS, the filing is not impactful for equity investors but is material disclosure for structured-note buyers.

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^*

BURNS URSULA M

(Last) (First) (Middle)

1725 3RD STREET

(Street)

SAN FRANCISCO CA 94158

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Uber Technologies, Inc [ UBER ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

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

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
Restricted Stock Units	$0.00	07/10/2025		A		264		(1)	(1)	Common Stock	264	$0.00	264	D

Explanation of Responses:

1. The reporting person was granted 264 restricted stock units ("RSUs") on July 10, 2025 pursuant to the Uber Technologies, Inc. RSU Conversion and Deferral Program for Directors. The RSUs were 100% vested as of the date of grant and become payable in cash or common stock on a one-for-one basis at the election of the Issuer on the date of the reporting person's termination of service.

Remarks:

	/s/ Carolyn Mo by Power of Attorney for Ursula M. Burns	07/14/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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