GRAY MICHAEL 4
4 · Upstream Bio, Inc. · Filed Jun 17, 2026
Research Summary
AI-generated summary of this filing
Upstream Bio (UPB) CFO/COO Michael Gray Sells 853 Shares
What Happened
Michael Gray, Chief Financial Officer and Chief Operating Officer of Upstream Bio (UPB), reported a sale of 853 shares on 2026-06-16 at $6.10 per share, generating proceeds of $5,203. The transaction is reported as an open market or private sale (code S) and reflects shares sold to cover tax withholding related to restricted stock unit vesting rather than a discretionary sale.
Key Details
- Transaction date: 2026-06-16; filing date: 2026-06-17 (timely filing).
- Price per share: $6.10; shares sold: 853; gross proceeds: $5,203.
- Transaction code: S (Sale).
- Footnote: F1 — sale was an automatic "sell-to-cover" to satisfy tax withholding obligations upon RSU vesting; not at the Reporting Person's discretion.
- Shares owned after transaction: not specified in the provided filing details.
Context
Sell-to-cover transactions are routine administrative sales to satisfy tax withholding on vested awards and are commonly not interpreted as a signal of negative insider sentiment. For retail investors, purchases generally carry more weight as bullish signals; automatic, tax-related sales are procedural.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-06-16$6.10/sh−853$5,203→ 28,795 total
Footnotes (1)
- [F1]The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.