Upstart CEO Paul Gu’s LLC buys 50,000 shares

Available on EDGAR 11/13/2026 - 05:38 PM EST Accepted by SEC EDGAR 11/13/2026 - 05:38 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Chief Executive Officer and director Paul Gu reported that JECCO, LLC, of which he is a managing member, purchased 50,000 Upstart Holdings, Inc. shares on November 11, 2026, at a weighted average price of $20.568 per share. JECCO, LLC held 180,000 shares after the purchase. Gu also reported direct holdings of 1,102,616 shares, certain of which are restricted stock units. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Buyer: 50,000 shares

Net Buy 1 txn

Insider Gu Paul

Role Chief Executive Officer

Bought 50,000 shs ($1.03M)

Increase in Position 38.5%

Type	Security	Shares	Price	Value
Purchase	Common Stock F1, F2	50,000	$20.568	$1.03M
Holding	Common Stock F3	--	--	--
Holding	Common Stock F4	--	--	--
Holding	Common Stock F5	--	--	--

Holdings After Transaction: Common Stock — 180,000 shares (Indirect, by LLC); Common Stock — 1,102,616 shares (Direct); Common Stock — 114,930 shares (Indirect, by trust)

Holdings Before and After: Common Stock, 130,000 to 180,000 shares (Indirect, by LLC)

Footnotes (5)

1. F1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.45 to $20.70. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.
2. F2. The reportable securities are owned by JECCO, LLC, of which the Reporting Person is a managing member.
3. F3. Certain of these securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock, subject to the applicable vesting schedule and conditions of each RSU.
4. F4. The reportable securities are owned by The Paul Xinquan Gu 2021 Gifting Trust, of which the Reporting Person is a trustee.
5. F5. The reportable securities are owned by The Gu Qiao Family Trust, of which the Reporting Person is the trustee.

Key Figures

Shares purchased: 50,000 shares Weighted average purchase price: $20.568 per share JECCO, LLC shares after purchase: 180,000 shares +1 more

4 metrics

Shares purchased 50,000 shares JECCO, LLC purchase on November 11, 2026

Weighted average purchase price $20.568 per share JECCO, LLC purchase on November 11, 2026

JECCO, LLC shares after purchase 180,000 shares Following the November 11, 2026 purchase

Direct holdings 1,102,616 shares Reported by Paul Gu; certain of these securities are restricted stock units

Key Terms

weighted average price, restricted stock units (RSUs)

2 terms

weighted average price financial

"a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

restricted stock units (RSUs) financial

"Certain of these securities are restricted stock units (RSUs)."

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many UPST shares did JECCO, LLC purchase, and at what price?

JECCO, LLC purchased 50,000 shares on November 11, 2026, at a weighted average price of $20.568 per share. The purchases occurred in multiple transactions priced from $20.45 to $20.70 per share. No Rule 10b5-1 plan is reported.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

Gu Paul

(Last) (First) (Middle)

C/O UPSTART HOLDINGS, INC.

220 PARK ROAD, SUITE 500

(Street)

BURLINGAME CALIFORNIA 94010

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Upstart Holdings, Inc. [ UPST ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/11/2026

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

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

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

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
Common Stock	11/11/2026		P		50,000	A	$20.568(1)	180,000	I	by LLC(2)
Common Stock								1,102,616(3)	D
Common Stock								44,930	I	by trust(4)
Common Stock								70,000	I	by trust(5)

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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.45 to $20.70. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.

2. The reportable securities are owned by JECCO, LLC, of which the Reporting Person is a managing member.

3. Certain of these securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock, subject to the applicable vesting schedule and conditions of each RSU.

4. The reportable securities are owned by The Paul Xinquan Gu 2021 Gifting Trust, of which the Reporting Person is a trustee.

5. The reportable securities are owned by The Gu Qiao Family Trust, of which the Reporting Person is the trustee.

Remarks:

	/s/ Steven Madrid, by power of attorney	11/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)