SEC Form 4 · accession 0001567619-18-003818
UPWORK, INC · UPWK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory C. Gretsch
Director · 10% Owner
Period of report
Oct 3, 2018
Accepted (ET)
Oct 5, 2018 · 8:01 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 StockF1 | Oct 3, 2018 | A | 1,750 | $0.00 | A | 1,750 | D | |
| Common StockF2 | Oct 3, 2018 | A | 7,500 | $0.00 | A | 9,250 | D | |
| Common StockF3 | holding | — | — | — | 37,026 | I | Held directly by Sigma Associates 6, L.P. | |
| Common StockF3 | holding | — | — | — | 6,738 | I | Held directly by Sigma Investors 6, L.P. | |
| Common StockF3 | holding | — | — | — | 486,967 | I | Held directly by Sigma Partners 6, L.P. | |
| Common StockF4 | holding | — | — | — | 266,667 | I | Held directly by Martis Creek Investments, L.P. - Fund 3 | |
| Common StockF4 | holding | — | — | — | 95,000 | I | Held directly by Martis Creek Investments, L.P. - Fund 4 | |
| Common StockF4 | holding | — | — | — | 1,430 | I | Held directly by Martis Creek Investments, L.P. - Fund 5 |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents an award of restricted stock units ("RSUs"). The RSUs vest quarterly, over three quarters (with the first such vesting date occurring on December 31, 2018), subject to the continuing service of the Reporting Person on each vesting date. The final quarterly installment shall fully vest on the earlier of (a) the date of the first annual meeting of the Issuer's stockholders and (b) the date that is the last day of the last full quarter of the vesting of such award, in each case subject to the continuing service of the Reporting Person through such date.
- F2Represents an award of RSUs. The RSUs vest on the earlier of (a) the date of the first annual meeting of the Issuer's stockholders and (b) July 3, 2019, in each case subject to the continuing service of the Reporting Person through such date.
- F3Sigma Management 6, L.L.C. is the general partner of each of Sigma Associates 6, L.P., Sigma Investors 6, L.P., and Sigma Partners 6, L.P., (collectively, the "Sigma Entities"). Robert E. Davoli, Clifford Haas, Lawrence G. Finch, Gregory C. Gretsch (the Reporting Person and a member of the Issuer's board of directors), John Mandile, Peter Solvik, Robert Spinner, and Wade Woodson are the managing members of Sigma Management 6, L.L.C. and share voting and investment power with respect to the shares held by the Sigma Entities.
- F4The Gretsch Revocable Trust is the general partner of each of Martis Creek Investments, L.P. - Fund 3, Martis Creek Investments, L.P. - Fund 4, and Martis Creek Investments, L.P. - Fund 5 (collectively, the "Martis Creek entities") and has sole voting and dispositive power over the shares held by the Martis Creek entities, and the voting decisions with respect to such shares are made by Gregory Gretsch, the Reporting Person.