SEC Form 4 · accession 0001012975-18-001095

UPWORK, INC · UPWK

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owners

GLOBESPAN CAPITAL PARTNERS IV LP

10% Owner

Andrew P Goldfarb

10% Owner

Globespan Management Associates IV, LLC

10% Owner

Period of report

Oct 5, 2018

Accepted (ET)

Oct 5, 2018 · 8:31 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001627475

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2,F7	Oct 5, 2018	C	787,890	—	A	808,539	I	See footnote
Common Stock^F1,F3,F7	Oct 5, 2018	C	54,167	—	A	55,586	I	See footnote
Common Stock^F1,F4,F7	Oct 5, 2018	C	48,789	—	A	50,067	I	See footnote
Common Stock^F1,F5,F7	Oct 5, 2018	C	21,467	—	A	22,029	I	See footnote
Common Stock^F1,F6,F7	Oct 5, 2018	C	14,866	—	A	15,255	I	See footnote
Common Stock^F1,F2,F7	Oct 5, 2018	C	9,800,125	—	A	10,608,664	I	See footnote
Common Stock^F1,F3,F7	Oct 5, 2018	C	673,758	—	A	729,344	I	See footnote
Common Stock^F1,F4,F7	Oct 5, 2018	C	606,865	—	A	656,932	I	See footnote
Common Stock^F1,F5,F7	Oct 5, 2018	C	267,020	—	A	289,049	I	See footnote
Common Stock^F1,F6,F7	Oct 5, 2018	C	184,917	—	A	200,172	I	See footnote
Common Stock^F1,F2,F7	Oct 5, 2018	C	77,042	—	A	10,685,706	I	See footnote
Common Stock^F1,F3,F7	Oct 5, 2018	C	3,739	—	A	733,083	I	See footnote
Common Stock^F1,F4,F7	Oct 5, 2018	C	3,354	—	A	660,286	I	See footnote
Common Stock^F1,F5,F7	Oct 5, 2018	C	2,027	—	A	291,076	I	See footnote
Common Stock^F1,F6,F7	Oct 5, 2018	C	1,404	—	A	201,576	I	See footnote

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	D/I
Series A-1 Convertible Preferred Stock^F2,F7,F1	—	Oct 5, 2018	C	787,890	D	—	—	Common Stock	787,890	I
Series A-1 Convertible Preferred Stock^F3,F7,F1	—	Oct 5, 2018	C	54,167	D	—	—	Common Stock	54,167	I
Series A-1 Convertible Preferred Stock^F4,F7,F1	—	Oct 5, 2018	C	48,789	D	—	—	Common Stock	48,789	I
Series A-1 Convertible Preferred Stock^F5,F7,F1	—	Oct 5, 2018	C	21,467	D	—	—	Common Stock	21,467	I
Series A-1 Convertible Preferred Stock^F6,F7,F1	—	Oct 5, 2018	C	14,866	D	—	—	Common Stock	14,866	I
Series A-2 Convertible Preferred Stock^F2,F7,F1	—	Oct 5, 2018	C	9,800,125	D	—	—	Common Stock	9,800,125	I
Series A-2 Convertible Preferred Stock^F3,F7,F1	—	Oct 5, 2018	C	673,758	D	—	—	Common Stock	673,758	I
Series A-2 Convertible Preferred Stock^F4,F7,F1	—	Oct 5, 2018	C	606,865	D	—	—	Common Stock	606,865	I
Series A-2 Convertible Preferred Stock^F5,F7,F1	—	Oct 5, 2018	C	267,020	D	—	—	Common Stock	267,020	I
Series A-2 Convertible Preferred Stock^F6,F7,F1	—	Oct 5, 2018	C	184,917	D	—	—	Common Stock	184,917	I
Series B-1 Convertible Preferred Stock^F2,F7,F1	—	Oct 5, 2018	C	77,042	D	—	—	Common Stock	77,042	I
Series B-1 Convertible Preferred Stock^F3,F7,F1	—	Oct 5, 2018	C	3,739	D	—	—	Common Stock	3,739	I
Series B-1 Convertible Preferred Stock^F4,F7,F1	—	Oct 5, 2018	C	3,354	D	—	—	Common Stock	3,354	I
Series B-1 Convertible Preferred Stock^F5,F7,F1	—	Oct 5, 2018	C	2,027	D	—	—	Common Stock	2,027	I
Series B-1 Convertible Preferred Stock^F6,F7,F1	—	Oct 5, 2018	C	1,404	D	—	—	Common Stock	1,404	I

Explanation of responses

F1The preferred stock automatically converted into common stock on a 1-to-1 basis immediately upon closing of the initial public offering of the Issuer and has no expiration date.
F2Held directly by Globespan Capital Partners IV, L.P.
F3Held directly by Globespan Capital Partners (Cayman) IV, L.P.
F4Held directly by JAFCO Globespan USIT IV, L.P.
F5Held directly by Globespan Capital Partners IV GmbH & Co. KG.
F6Held directly by GCP IV Affiliates Fund, L.P.
F7The filing of this Form 4 shall not be construed as an admission that the Reporting Persons are or were for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owners of any of the shares of common stock, of the Issuer. The Reporting Persons disclaim such beneficial ownership, except to the extent of their pecuniary interest.