UPWORK, INC: COO Anthony Kappus exercised 1,413 shares

What happened

• Anthony Kappus, chief operating officer, exercised or converted 1,413 restricted stock units (RSUs) on Oct 18, 2026. The filing also shows a related disposal entry for 1,413 shares at $0.00 (derivative) and an open-market sale of 559 shares on Oct 19, 2026 at a weighted average price of $8.43 for total proceeds of $4,712.

Key details

• Transaction dates and prices:
  • Oct 18, 2026: exercised/converted 1,413 RSUs (reported at $0.00 for the derivative disposal line).
  • Oct 19, 2026: open-market sale of 559 shares at a weighted average price of $8.43 (shares sold at prices ranging from $8.36 to $8.4950 per share).
• Shares owned after the transaction: not reported in the provided filing excerpt.
• Relevant footnotes from the filing:
  • F1: each RSU represents a contingent right to receive one share of common stock.
  • F2: the number of shares sold represents those required to be sold to cover tax withholding in connection with RSU vesting; this was a sell-to-cover transaction mandated by the issuer, not a discretionary trade by the reporting person.
  • F3: the $8.43 price is a weighted average; sales occurred within the $8.36 to $8.4950 range.
  • F4: the RSUs vest in equal quarterly installments over 4 years beginning on Jul 18, 2026, subject to continued employment.
• Filing date and timeliness: Form filed Oct 20, 2026; no late filing indicated in the provided information.

Why it may matter

• The filing shows an exercise/conversion of RSUs and a contemporaneous sale of shares to satisfy tax withholding (sell-to-cover), rather than a voluntary market sale of all newly acquired shares.
• The sale price reported is a weighted average across multiple trades; the filing offers to provide details on the number of shares sold at each price upon request.
• A filing does not show why the insider traded or why the company acted.