Benchmark Capital Management Co. V, L.L.C. 4
4 · Upwork Inc. · Filed Oct 5, 2018
Insider Transaction Report
Form 4
Upwork Inc.UPWK
Transactions
- Conversion
Series B-1 Preferred Stock
2018-10-05−2,508,432→ 0 total(indirect: See footnote)Exercise: $0.00→ Common Stock (2,508,432 underlying) - Conversion
Series A-2 Preferred Stock
2018-10-05−10,451,892→ 0 total(indirect: See footnote)Exercise: $0.00→ Common Stock (10,451,892 underlying) - Conversion
Common Stock
2018-10-05+14,217,253→ 14,603,885 total(indirect: See footnote) - Conversion
Series A-1 Preferred Stock
2018-10-05−1,111,911→ 0 total(indirect: See footnote)Exercise: $0.00→ Common Stock (1,111,911 underlying) - Conversion
Series B-2 Preferred Stock
2018-10-05−145,018→ 0 total(indirect: See footnote)Exercise: $0.00→ Common Stock (145,018 underlying)
Footnotes (2)
- [F1]In connection with the consummation of the Issuer's initial public offering on October 5, 2018, each share of Preferred Stock automatically converted into one (1) share of the Issuer's Common Stock for no additional consideration, and had no expiration date. All shares of Common Stock issued upon conversion were aggregated.
- [F2]Shares are held directly by Benchmark Capital Partners V, L.P. ("BCP V"), as nominee for BCP V, Benchmark Founders' Fund V, L.P. ("BFF V"), Benchmark Founders' Fund V-A, L.P. ("BFF V-A"), Benchmark Founders' Fund V-B, L.P. ("BFF V-B") and related persons. Benchmark Capital Management Co. V, L.L.C. ("BCMC V"), the general partner of BCP V, BFF V, BFF V-A and BFF V-B, may be deemed to have sole voting and dispositive power over such shares. Alexandre Balkanski, Bruce W. Dunlevie, Peter H. Fenton, J. William Gurley, Kevin R. Harvey, Robert C. Kagle, Mitchell H. Lasky and Steven M. Spurlock, the managing members of BCMC V, may be deemed to share voting and dispositive power over these shares. Each such person and entity disclaims the existence of a "group" and disclaims beneficial ownership of any securities (except to the extent of such person's or entity's pecuniary interest in such securities).