secwatch.observer — SEC 8-K summary
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Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001647639-23-000027
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Upstart cancels 687,500-share performance RSU for CTO Paul Gu; reinstates cash comp
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- Compensation Committee cancelled Paul Gu's performance-based RSU award of 687,500 shares granted Feb 2022.
- Award was intended as primary compensation through 2029; Gu's cash comp was limited to benefits only.
- In exchange, Gu receives annual salary of $425,000 and eligibility for 2023 Executive Bonus Plan with 75% target bonus.
- Committee determined award no longer provided intended retention and incentive value after consulting advisors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000164763923000027/0001647639-23-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000164763923000027/upst-20230224.htm
  HTML page:      https://secwatch.observer/filing/0001647639-23-000027

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