THOMAS LAYTON - 15 Nov 2021 Form 4 Insider Report for UPWORK, INC (UPWK)

Signature
/s/Jacob McQuown, Attorney-in-Fact
Issuer symbol
UPWK
Transactions as of
15 Nov 2021
Transactions value $
-$4,175,361
Form type
4
Filing time
17 Nov 2021, 18:19:46 UTC
Previous filing
08 Nov 2021
Next filing
06 Jun 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UPWK Common Stock Sale -$2,568,164 -55,630 -1.37% $46.17 4,006,878 15 Nov 2021 See footnote F1, F2, F3, F4
transaction UPWK Common Stock Sale -$623,508 -13,219 -0.33% $47.17 3,993,659 15 Nov 2021 See footnote F1, F4, F5
transaction UPWK Common Stock Sale -$608,321 -13,432 -0.34% $45.29 3,980,227 16 Nov 2021 See footnote F1, F4, F6
transaction UPWK Common Stock Sale -$375,366 -8,252 -0.21% $45.49 3,971,975 17 Nov 2021 See footnote F1, F7
holding UPWK Common Stock 8,148 15 Nov 2021 Direct F3
holding UPWK Common Stock 135,911 15 Nov 2021 See footnote F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported sales transaction was executed by the Reporting Person in connection with a negotiation of separation of assets in anticipation of a potential divorce settlement agreement.
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.82 to $46.81 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 amount of securities reflects the acquisition and immediate transfer without consideration by the Reporting Person to Thomas H. Layton or Gabrielle M. Layton, or their successors, as trustees of the Layton Community Property Trust dated November 29, 1999, as amended (the "Trust"), of 15,895 shares of the Issuer's Common Stock on November 5, 2021, which voluntary transaction was not reported on the Form 4 filed on November 8, 2021 due to an administrative error. The 15,895 transferred shares were sold by the Trust instead of by the Reporting Person on November 5, 2021, as was reported on the Form 4 filed on November 8, 2021.
F4 Held by Thomas H. Layton or Gabrielle M. Layton, or their successors, as trustees of the Layton Community Property Trust dated November 29, 1999, as amended.
F5 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $46.82 to $47.67 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.
F6 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.25 to $45.34 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.
F7 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.25 to $45.94 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.
F8 Held by Thomas Layton, Trustee of the Thomas H. Layton Separate Property Revocable Trust dtd 11/29/99.