The sale of 7,696 shares by Upstart’s chief legal officer was automatic to cover tax obligations from restricted stock units.
Upstart Holdings Inc. (NASDAQ:UPST) chief legal officer Scott Darling sold 7,696 shares on August 20 at a weighted average price of $28.09, totaling $216,000. The transaction was non-discretionary, executed to cover tax liabilities from vesting restricted stock units.
Following the sale, Darling’s direct ownership dropped to 73,306 shares, though he retains 120,000 shares including indirect holdings via the Darling Family Trust. Insider ownership at Upstart stands at 0.13% of outstanding shares, with Darling’s total holdings valued at $3.46 million as of the August 20 market close.
The company operates an AI-driven lending platform, generating revenue through personal lending, auto loans, and home equity lines of credit segments.