Director Layton Thomas sold 500,000 UPWK shares in 2 transactions for $8,746,450.00 total
Layton Thomas, a director at Upwork, executed 2 separate sales totaling 500,000 shares for $8,746,450.00 on May 13-14, 2025, at prices of $17.47 and $17.52 respectively. This represents a reduction of 23.6% of his pre-transaction holdings of 2,117,769 shares, leaving him with 1,617,769 shares post-sale. The sale occurred near Upwork's 52-week high of $17.50, with the stock currently trading at $17.09 and having appreciated 33.5% over the preceding 30 days, suggesting the director sold into a period of notable upward price momentum. Given Upwork's healthy fundamentals (P/E of 9.60, net income of $37,730,000.00, and 11.6% annual revenue growth), the material scale of this divestiture warrants monitoring to assess whether it reflects any change in the director's outlook or capital allocation priorities.