Nelson Elizabeth A - Jun 1, 2021 Form 4 Insider Report for UPWORK, INC (UPWK)

Role
Director
Signature
/s/ Jacob McQuown, Attorney-in-Fact
Stock symbol
UPWK
Transactions as of
Jun 1, 2021
Transactions value $
-$1,279,166
Form type
4
Date filed
6/3/2021, 08:04 PM
Previous filing
May 18, 2021
Next filing
Nov 17, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPWK Common Stock Award $0 +4.07K +31.42% $0.00 17K Jun 1, 2021 Direct F1
transaction UPWK Common Stock Sale -$620K -13K -76.09% $47.86 4.07K Jun 1, 2021 Direct F2
transaction UPWK Common Stock Options Exercise $18.4K +5K +122.88% $3.67 9.07K Jun 2, 2021 Direct
transaction UPWK Common Stock Sale -$241K -5K -55.13% $48.10 4.07K Jun 2, 2021 Direct F3
transaction UPWK Common Stock Options Exercise $36.7K +10K +245.76% $3.67 14.1K Jun 3, 2021 Direct
transaction UPWK Common Stock Sale -$474K -10K -71.08% $47.38 4.07K Jun 3, 2021 Direct F4
holding UPWK Common Stock 380K Jun 1, 2021 Held directly by the Nelson Family Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction UPWK Director Stock Option (right to buy) Options Exercise $0 -5K -1.59% $0.00 310K Jun 2, 2021 Common Stock 5K $3.67 Direct F5
transaction UPWK Director Stock Option (right to buy) Options Exercise $0 -10K -3.23% $0.00 300K Jun 3, 2021 Common Stock 10K $3.67 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents an award of RSUs. The RSUs vest 100% on the earlier of (a) the date immediately prior to the Issuer's 2022 annual meeting of stockholders and (b) June 1, 2022, in each case subject to the continuing service of the Reporting Person through such date.
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.64 to $48.06 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.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.92 to $48.33 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.
F4 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.17 to $47.73 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.
F5 The option is fully vested and exercisable.