Upwork COO files Form 3 showing RSU holdings
Upwork, Inc. executive Anthony Ray Kappus, GM & Chief Operating Officer, filed an initial ownership report showing holdings of restricted stock units (RSUs) tied to the company’s common stock.
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Form Type
3
Rhea-AI Filing Summary
Upwork, Inc. executive Anthony Ray Kappus, GM & Chief Operating Officer, filed an initial ownership report showing holdings of restricted stock units (RSUs) tied to the company’s common stock. One RSU grant covers 81,833 underlying shares, the other 459,442, both vesting in scheduled quarterly installments starting in 2026.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Kappus Anthony Ray
Role
GM & Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | No securities beneficially owned | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 541,275 contracts (Direct);
No securities beneficially owned — 0 shares (Direct)
Footnotes (3)
- F1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- F2. The RSUs vest 25% on September 18, 2026, and then 1/16th of the total number of shares on each quarterly anniversary thereafter, subject to the continuing employment of the Reporting Person with the Issuer on each vesting date.
- F3. The RSUs vest in equal quarterly installments over four years beginning on May 18, 2026, subject to the continuing employment of the Reporting Person with the Issuer on each vesting date.
Key Figures
RSU underlying shares (grant 1): 81,833 shares
RSU underlying shares (grant 2): 459,442 shares
Initial vesting date for first RSU grant: September 18, 2026
+1 more
4 metrics
RSU underlying shares (grant 1)
81,833 shares
Underlying Upwork common stock for one RSU award
RSU underlying shares (grant 2)
459,442 shares
Underlying Upwork common stock for second RSU award
Initial vesting date for first RSU grant
September 18, 2026
25% vests then, followed by quarterly 1/16 installments
Initial vesting date for second RSU grant
May 18, 2026
Vests in equal quarterly installments over four years
Key Terms
Restricted Stock Units, contingent right, vest, quarterly installments
4 terms
Restricted Stock Units financial
"security_title": "Restricted Stock Units""
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
contingent right financial
"represents a contingent right to receive one share of the Issuer's common stock"
vest financial
"The RSUs vest 25% on September 18, 2026, and then 1/16th of the total"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
quarterly installments financial
"The RSUs vest in equal quarterly installments over four years"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 filing by Upwork (UPWK) executive Anthony Ray Kappus show?
The Form 3 shows Anthony Ray Kappus’ initial holdings in restricted stock units tied to Upwork common stock. It outlines his RSU grants, underlying share counts, and vesting schedules that begin in 2026, rather than reporting any stock purchases or sales.
When do Anthony Ray Kappus’ Upwork (UPWK) RSUs begin to vest?
One RSU grant vests 25% on September 18, 2026, then 1/16 of the total on each quarterly anniversary. Another grant vests in equal quarterly installments over four years beginning May 18, 2026, assuming his continued employment with Upwork on each vesting date.
Does the Upwork (UPWK) Form 3 for Anthony Ray Kappus report any stock trades?
The Form 3 functions as an initial ownership statement and lists restricted stock unit positions rather than buy or sell transactions. It focuses on the number of underlying shares and vesting terms, not on open-market purchases, sales, or option exercises.
What is a restricted stock unit (RSU) in the Upwork (UPWK) Form 3 filing?
The filing explains that each restricted stock unit represents a contingent right to receive one share of Upwork common stock. Those rights convert into shares only if the vesting schedule is met and the executive remains employed through required vesting dates.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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