Upstart grants co-founder Paul Gu 7-year performance RSU award targeting stock price up to $616

Upstart Holdings, Inc.

Max 687,500 RSUs; vesting tied to stock price targets from $166 (14.7% above reference) to $616 (4.25x reference).
Only 21.4% of RSUs earnable if stock stays below $347; full vesting requires $616 avg over 60 days.
Cash compensation will be reduced to minimum for broad-based benefits; award is primary compensation for 7 years.
First measurement date Jan 1, 2027; cumulative vesting caps of 275k RSUs (5yr) and 550k (6yr) before final date.
Protection events (death, disability, constructive termination) allow prorated vesting with caps (275k before 2027, 550k before 2028).

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