Upwork's CEO Sold Nearly $7 Million in Company Stock. Is This a Warning Sign for Shareholders?

Hayden Brown, President & CEO of Upwork (NASDAQ:UPWK), disclosed the merchantability of 350,000 shares successful aggregate open-market transactions connected November 25, 2025 and November 26, 2025; spot the SEC Form 4 filing for details.

Transaction worth based connected SEC Form 4 weighted mean acquisition terms ($19.51); post-transaction worth based connected November 26, 2025 marketplace adjacent ($19.51).

• How important was the transaction comparative to Hayden Brown's nonstop holdings?
  The 350,000 shares sold represented 33.4% of Ms. Brown's nonstop holdings instantly anterior to the transaction, a important simplification compared to the humanities median merchantability commercialized of 30,672 shares (2.19% of holdings per commercialized successful the past year).

• Did the transaction exhaust Ms. Brown's disposable nonstop ownership oregon permission a meaningful residual stake?
  After the transaction, Ms. Brown retained 697,894 shares directly, valued astatine astir $13.7 cardinal arsenic of November 26, 2025, which accounts for 0.53% of Upwork's outstanding shares based connected the latest reported figures.

• How does the transaction comparison to Ms. Brown's humanities selling patterns?
  Over the past year, Ms. Brown made 15 merchantability trades with a median size of 40,000 shares for sell-only events and 28,741 shares crossed each commercialized events, making this 350,000-share merchantability the largest azygous disposition successful the observed play and good supra some medians.

• Was determination immoderate notable question successful Upwork's banal terms astir the transaction dates?
  Upwork shares closed astatine $19.58 connected November 26, 2025, with the weighted mean merchantability terms astatine $19.51 per share; the banal posted a one-year full instrumentality of 16.3% arsenic of the transaction date.

* 1-year terms alteration calculated utilizing November 26, 2025 arsenic the notation date.

• Upwork provides an online enactment marketplace connecting businesses with autarkic professionals and agencies crossed a wide scope of categories, including sales, marketing, IT, and originative services.

• The institution generates gross chiefly done work fees charged to clients and freelancers for facilitating endowment sourcing, contracting, collaboration, and outgo processing connected its platform.

• Upwork targets enterprises, tiny and medium-sized businesses, and idiosyncratic entrepreneurs seeking flexible, remote, and specialized endowment globally.