secwatch.observer — SEC 8-K summary
======================================

Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2022-02-23T23:59:59+00:00
Accession:  0001647639-22-000011
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000164763922000011/0001647639-22-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000164763922000011/upst-20220218.htm
  HTML page:      https://secwatch.observer/filing/0001647639-22-000011

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