[Form 4] UPWORK, INC Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Upwork, Inc. Chief Accounting Officer Sabrina Mekhalfa reported routine equity transactions tied to restricted stock units (RSUs). She exercised RSUs covering 3,577 units, receiving the same number of common shares at a $0.00 exercise price. On the same date, 1,276 common shares were sold at a weighted average price of $8.1509 per share to cover tax withholding obligations under the company’s equity incentive plans, described as a mandatory “sell to cover” transaction rather than a discretionary trade. Following these transactions, she directly holds 4,396 shares of Upwork common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,276 shares ($10,401)
Net Sell
3 txns
Insider
Mekhalfa Sabrina
Role
Chief Accounting Officer
Sold
1,276 shs ($10K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 3,577 | $0.00 | -- |
| Exercise | Common Stock | 3,577 | $0.00 | -- |
| Sale | Common Stock | 1,276 | $8.1509 | $10K |
Holdings After Transaction:
Restricted Stock Units — 35,775 shares (Direct, null);
Common Stock — 5,672 shares (Direct, null)
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of the RSUs listed in Table II. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.02 to $8.25 per share, inclusive. 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 written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The RSUs vest in equal quarterly installments over three years beginning on March 18, 2026, subject to the continuing employment of the Reporting Person with the Issuer on each vesting date.
Key Figures
Shares sold: 1,276 shares
Sale price: $8.1509 per share
RSUs exercised: 3,577 units
+3 more
6 metrics
Shares sold
1,276 shares
Open-market sale on 2026-06-18
Sale price
$8.1509 per share
Weighted average sale price
RSUs exercised
3,577 units
Converted to common stock on 2026-06-18
Shares owned after
4,396 shares
Direct ownership following transactions
RSU-to-share ratio
1 RSU : 1 share
Each RSU delivers one common share
Net buy/sell shares
-1,276 shares
Net-sell direction across reported trades
Key Terms
Restricted Stock Units, RSU, sell to cover, equity incentive plans, +1 more
5 terms
Restricted Stock Units financial
"The RSUs vest in equal quarterly installments over three years"
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.
RSU financial
"Each restricted stock unit ("RSU") represents a contingent right"
Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.
sell to cover financial
"tax withholding obligations to be funded by a "sell to cover" transaction"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
equity incentive plans financial
"mandated by the Issuer's election under its equity incentive plans"
Equity incentive plans are company programs that pay employees, executives, or directors with company stock, stock options, or share units instead of or in addition to cash, aiming to align their interests with shareholders—like giving team members a stake in the house they help build. For investors this matters because such plans can motivate better company performance but also dilute existing ownership and increase reported compensation costs, so they affect future earnings, voting power, and share value.
weighted average price financial
"The reported price in Column 4 is 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.
