# EDGAR Filing Document

**Accession Number:** 0001647639
**File Stem:** 0001628280-23-004881
**Filing Date:** 2023-2
**Character Count:** 7894
**Document Hash:** 65b04f17c9a125189a613a7cd216d40f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-23-004881.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001628280-23-004881

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230221

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Girouard Dave
- **CENTRAL INDEX KEY:** 0001832805

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39797
- **FILM NUMBER:** 23660839

**MAIL ADDRESS:**
- **STREET 1:** C/O UPSTART HOLDINGS, INC.
- **STREET 2:** 2950 S. DELAWARE STREET, SUITE 300
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Upstart Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001647639
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **IRS NUMBER:** 464332431
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 2950 S. DELAWARE STREET, SUITE 300
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403
- **BUSINESS PHONE:** (650) 204-1000

**MAIL ADDRESS:**
- **STREET 1:** 2950 S. DELAWARE STREET, SUITE 300
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Girouard Dave<br><sub>(Last) (First) (Middle)</sub><br>C/O UPSTART HOLDINGS, INC.<br>2950 S. DELAWARE STREET, SUITE 300<br><sub>(Street)</sub><br>SAN MATEO, CA 94403<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-21 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Executive Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Upstart Holdings, Inc. [ UPST ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2023-02-21 |  | S<sup>(1)</sup> |  | 4048 | D | 18.1414<sup>(2)</sup> | 83066<sup>(3)(4)</sup> | D |  |
| Common Stock |  |  |  |  |  |  |  | 8342701<sup>(5)(6)(7)</sup> | I | See Footnote<sup>(8)</sup> |
| Common Stock |  |  |  |  |  |  |  | 1000000<sup>(5)</sup> | I | See Footnote<sup>(9)</sup> |
| Common Stock |  |  |  |  |  |  |  | 252114<sup>(7)</sup> | I | See Footnote<sup>(10)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) These shares were sold to cover tax withholding obligations in connection with the vesting of restricted stock units (RSUs).

(2) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.00 to $18.31. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

(3) The number of shares held (i) includes 40 shares of Common Stock received pursuant to a pro rata distribution in April 2022 from Kleiner Perkins Caufield & Byers XV, LLC, of which theReporting Person is a member, and which acquisition was exempt pursuant to Rule 16a-9, and (ii)reflects the transfer, in April 2022, of 40 shares of Common Stock from the Reporting Person to the 2008 D&T Girouard Revocable Trust, for which the Reporting Person serves as Trustee (the"Girouard Revocable Trust").

(4) Certain of these securities are RSUs. Each RSU represents a contingent right to receive one share of Common Stock, subject to the applicable vesting schedule and conditions of each RSU.

(5) The number of shares held reflects the transfer, on May 23, 2022, of 1,000,000 shares of common stock from the Girouard Revocable Trust, to the DTG GRAT LLC. dated May 23 2022, for which the reporting person serves as manager (the "DTG GRAT").

(6) The number of shares held reflects the transfer, in April of 2022, of 40 shares of Common Stock from the Reporting Person to the Girouard Revocable Trust.

(7) The number of shares held reflects the transfer, on February 3, 2022, of 698,475 shares of Common Stock from David J. Girouard, as trustee of the Girouard 2020 GRAT dated October 19, 2020 (the "2020 GRAT"), to the Girouard Revocable Trust.

(8) These shares are held by the Girouard Revocable Trust.

(9) These shares are held by the DTG GRAT.

(10) These shares are held by the 2020 GRAT.

**Signature:** /s/ Christopher Ing, by power of attorney  
**Date:** 2023-02-23

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**