Form 4: Upland Software Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Matthew Harnden Smith, General Counsel and Secretary of Upland Software, Inc., sold shares to cover tax obligations related to vesting restricted stock units.
Summary
- On March 16, 2024, Matthew Harnden Smith, General Counsel and Secretary of Upland Software, Inc., disposed of 1,464 shares of common stock.
- The shares were withheld by the issuer to satisfy tax withholding obligations related to the vesting of restricted stock units.
- The transaction price was $4.21 per share.
- Following the transaction, Smith directly owns 98,536 shares of Upland Software, Inc.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (selling shares to cover taxes on vested stock). It's neutral in sentiment as it doesn't indicate a positive or negative outlook for the company.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. Sales to cover tax obligations on vesting shares are common and don't necessarily indicate a negative outlook on the company.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 03/16/2024 | Date of transaction: Matthew Harnden Smith disposed of 1,464 shares of Upland Software common stock. |
| 03/19/2024 | Date of signature on the Form 4 filing. |
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