Gu Paul 4

What Happened Paul Gu, CEO of Upstart Holdings, reported an open-market purchase of 50,000 shares of Upstart common stock on May 13, 2026 at $27.50 per share, for a total of $1,375,000. This was a direct purchase (transaction code P), which is typically viewed by investors as a bullish signal because an insider added to their stake.

Key Details

• Transaction date and price: 2026-05-13, 50,000 shares @ $27.50 each.
• Total value: $1,375,000.
• Shares owned after transaction: Not specified in this filing.
• Filing date / timeliness: Form 4 was filed on 2026-05-14 (timely within SEC reporting window).
• Notable footnotes from the filing:
  • F1: Some reportable securities are held by The Gu Qiao Family Trust (Reporting Person is a managing member).
  • F4: Some reportable securities are held by The Paul Xinquan Gu 2021 Gifting Trust (Reporting Person is trustee).
  • F5: Some reportable securities are owned by JECCO, LLC (Reporting Person is a managing member).
  • F3: Certain holdings include restricted stock units (RSUs) that convert to shares subject to vesting.
  • F2: Filing also notes 390 shares acquired on 2026-02-13 under the issuer’s 2020 Employee Stock Purchase Plan.

Context The transaction was a straightforward open-market purchase rather than an option exercise, gift, or award. Holdings reported via trusts and an LLC (and the presence of RSUs) mean some of the insider’s economic interest is held through entities and contingent awards; those structures do not, by themselves, indicate motivation. This filing is informational and timely under SEC Form 4 rules.