secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0001627475-23-000022
Event type: leadership
Sentiment:  positive
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upwork appoints Erica Gessert as CFO, effective April 25, 2023
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- Erica Gessert joins from PayPal, where she served as Chief Transformation Officer and SVP of Finance & Analytics.
- Gessert receives initial base salary of $550,000, target annual bonus of 80% of base salary.
- Restricted stock unit award valued at $9,000,000, vesting over 4 years (25% on May 18, 2024, then quarterly).
- Severance: 12 months base salary and medical benefits; change-in-control triggers pro-rata bonus and 100% equity acceleration.
- Gessert, 48, brings extensive public company finance and investor relations experience from PayPal and Sprint.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747523000022/0001627475-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747523000022/upwork-20230328.htm
  HTML page:      https://secwatch.observer/filing/0001627475-23-000022

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer