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UPWORK, INC Director's Dealing 2020

Apr 16, 2020

31644_dirs_2020-04-16_8fdbdd53-3528-48b4-bb45-64bd1da6141b.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Upwork Inc. (UPWK)
CIK: 0001627475
Period of Report: 2020-04-14

Reporting Person: Gilpin Eric (Senior VP, Sales)

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 1642 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Employee Stock Option (right to buy) $3.23 2026-04-19 Common Stock (220000) Direct
Employee Stock Option (right to buy) $4.04 2028-02-05 Common Stock (100000) Direct
Restricted Stock Unit (RSU) $0.00 Common Stock (107758) Direct

Footnotes

F1: The stock option vested with respect to 1/5th of the total shares on April 20, 2017, and then 1/60th of the total shares vest monthly thereafter, subject to the continuing employment of the Reporting Person on each vesting date.

F2: The stock option vested with respect to 1/60th of the total shares on March 6, 2018, and then 1/60th of the total shares vest monthly thereafter, subject to the continuing employment of the Reporting Person on each vesting date.

F3: The restricted stock units ("RSU") vest in equal quarterly installments over four years beginning on May 18, 2020, subject to the continuing employment of the Reporting Person on each vesting date.

F4: Each RSU represents a contingent right to receive one share of the Issuer's common stock.