Upwork restructures marketplace leadership roles

Upwork Inc. reported that GM, Marketplace David T. Bottoms has agreed to resign, remaining with the company through April 3, 2026.

Rhea-AI Filing Summary

Upwork Inc. reported that GM, Marketplace David T. Bottoms has agreed to resign, remaining with the company through April 3, 2026. A separation agreement signed on March 17, 2026 provides him, subject to a release of claims, a lump-sum payment equal to twelve months of base salary and reimbursement of COBRA health insurance premiums for up to twelve months or until he gains comparable coverage elsewhere or becomes ineligible.

His outstanding equity awards will continue to vest through his last day of employment. Effective April 4, 2026, GM & Chief Operating Officer Anthony Kappus will lead all marketplace-related teams except engineering, which will be led by Chief Technology Officer & Head of AI/ML Andrew Rabinovich, consolidating marketplace and technology leadership after Bottoms’s departure.

Insights

Corporate governance analyst

Upwork reshuffles marketplace leadership after a senior GM exit.

Upwork is managing the resignation of its GM, Marketplace, David T. Bottoms, with a structured separation package including twelve months of base salary and COBRA reimbursement. His equity continues to vest until his April 3, 2026 last working day, indicating a negotiated, orderly transition.

Leadership of marketplace functions will shift to GM & COO Anthony Kappus, with engineering under CTO & Head of AI/ML Andrew Rabinovich from April 4, 2026. This keeps marketplace responsibilities within the existing executive team, suggesting continuity in strategic direction despite the management change.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

FAQ

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

What leadership change did Upwork (UPWK) announce for its marketplace business?

Upwork announced that GM, Marketplace David T. Bottoms is resigning, with his last day on April 3, 2026. Afterward, GM & Chief Operating Officer Anthony Kappus will lead all marketplace-related teams, while engineering will be led by Chief Technology Officer & Head of AI/ML Andrew Rabinovich.

What severance benefits will David T. Bottoms receive from Upwork (UPWK)?

Subject to a release of claims, David T. Bottoms will receive a lump-sum payment equal to twelve months of base salary. He is also eligible for reimbursement of COBRA health insurance premiums for himself and covered dependents for up to twelve months or until he gains comparable coverage or becomes ineligible.

How long will Upwork’s David T. Bottoms remain employed before his departure?

David T. Bottoms will remain employed by Upwork through April 3, 2026. During this period, his existing equity awards continue to vest. His formal separation terms are governed by a separation agreement executed on March 17, 2026, which will be filed with a future Form 10-Q.

What happens to David T. Bottoms’s equity awards at Upwork (UPWK)?

David T. Bottoms’s outstanding equity awards will continue to vest through his last date of employment, April 3, 2026. The filing does not change vesting schedules beyond that date, so his equity participation runs in parallel with his remaining employment period under the separation terms.

Who will lead Upwork’s marketplace engineering after David T. Bottoms leaves?

After David T. Bottoms departs, marketplace engineering at Upwork will be led by Andrew Rabinovich. Rabinovich serves as Chief Technology Officer & Head of AI/ML and will oversee engineering while GM & Chief Operating Officer Anthony Kappus leads the non-engineering marketplace teams from April 4, 2026.

When was the separation agreement with Upwork’s David T. Bottoms signed?

Upwork and David T. Bottoms entered into the separation agreement on March 17, 2026. This agreement details his severance benefits and confirms that its full text will be filed as an exhibit to Upwork’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2026.

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

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Accepted by SEC EDGAR 03/18/2026 - 04:05 PM Learn about SEC filing dates

0001627475FALSE00016274752025-03-122025-03-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________________________________________________

FORM 8-K

_______________________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 12, 2026

_______________________________________________________

UPWORK INC.

(Exact name of Registrant as Specified in Its Charter)

_______________________________________________________

Delaware						001-38678			46-4337682
(State or Other Jurisdiction of Incorporation)						(Commission File Number)			(IRS Employer Identification No.)
530 Lytton Avenue, Suite 301
Palo Alto,			California						94301
(Address of Principal Executive Offices)									(Zip Code)

Registrant’s Telephone Number, Including Area Code: (650) 316-7500

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

_______________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class			Trading Symbol			Name of Each Exchange on Which Registered
Common Stock, $0.0001 par value per share			UPWK			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)

On March 12, 2026, Upwork Inc., or the Company, and David T. Bottoms, the Company's GM, Marketplace, reached an agreement regarding Mr. Bottoms's resignation and departure from the Company. Mr. Bottoms will remain employed by the Company through April 3, 2026.

On March 17, 2026, the Company and Mr. Bottoms entered into an agreement, or the Bottoms Separation Agreement, setting forth the terms of Mr. Bottoms’s separation from the Company. Pursuant to the Bottoms Separation Agreement, subject to a release of claims by Mr. Bottoms, Mr. Bottoms will be entitled to certain payments and benefits after his last day of employment, including (i) a lump sum payment equal to twelve months’ base salary and (ii) reimbursement for any insurance premium payments paid by Mr. Bottoms to continue to receive coverage for himself and his covered dependents under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, or COBRA, until the earlier of (x) the effective date on which he becomes covered by a substantially equivalent health insurance plan of a subsequent employer, (y) twelve months following his last date of employment, and (z) the date he is no longer eligible for COBRA benefits. Mr. Bottoms’s outstanding equity awards will continue to vest through his last date of employment.

The foregoing description of the Bottoms Separation Agreement is qualified in its entirety by reference to the full text of the Bottoms Separation Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending March 31, 2026.

Effective April 4, 2026, Anthony Kappus, the Company’s GM & Chief Operating Officer, will lead all Marketplace-related teams with the exception of engineering, which will be led by Andrew Rabinovich, the Company’s Chief Technology Officer & Head of AI/ML.

(e)

The information set forth above under 5.02(b) is hereby incorporated by reference into this Item 5.02(e).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

						UPWORK INC.
Date: March 18, 2026						By:			/s/ Jacob McQuown
									Jacob McQuown Chief Legal Officer

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.1 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.2 KB