---
schema_version: "secwatch.filing_event.v1"
accession: "0001505155-26-000083"
form_type: "8-K"
ticker: "UPLD"
cik: "0001505155"
company_name: "Upland Software, Inc."
filed_at: "2026-11-09T22:29:44+00:00"
generated_at: "2026-11-09T22:32:04.500011+00:00"
event_type: "dividend"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# HGGC waives 4.5% PIK dividends on all 115,000 Upland Series A preferred shares, effective Oct 1, 2026

## Summary
- Ulysses Aggregator LP, HGGC affiliate holding all 115,000 Series A Convertible Preferred shares, waived dividend accrual indefinitely effective October 1, 2026.
- Waived dividends (4.5% annually, paid in kind into liquidation preference) are permanently forgiven, with no catch-up even if the waiver is later revoked.
- Majority Series A holders can revoke prospectively, effective the first quarterly dividend period at least 30 days after written notice to Upland.
- Company expects full quarterly benefit starting Q4 2026 through higher net income attributable to common; liquidation preference held flat and fewer common shares issuable on conversion.
- CEO Sean Nathaniel links the waiver to the 'Simplify and Delever' phase through early 2027, then Stabilize and Expand in 2027 and Grow in 2028+; HGGC's David Chung sits on the board.

## SEC filing metadata
- accession: 0001505155-26-000083
- form_type: 8-K
- ticker: UPLD
- cik: 0001505155
- company_name: Upland Software, Inc.
- filed_at: 2026-11-09T22:29:44+00:00
- event_type: dividend
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1505155/000150515526000083/0001505155-26-000083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1505155/000150515526000083/upld-20261109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001505155-26-000083
- JSON: https://secwatch.observer/filing/0001505155-26-000083.json
- Plain text: https://secwatch.observer/filing/0001505155-26-000083.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.