Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-21

Upwork, Inc (UPWK)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$17,094,702
Hayden Brown total, FY2025
88th
CEO pay percentile vs peers
287:1
CEO-to-median pay ratio
72.02%
Say-on-pay support, latest vote
Companies that benchmark against UPWK
16 companies name UPWK as a compensation peer

Each company listed discloses UPWK in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named UPWK in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Hayden Brown$625,000$0$15,153,165$0$1,289,438$0$27,099$17,094,702
President and Chief Executive Officer
Erica Gessert606,37504,100,2520887,675016,2155,610,517
Chief Financial Officer
David Bottoms478,19202,495,7920514,726027,0993,515,809
GM, Marketplace

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Hayden Brown$17,094,702$9,931,909$9,508,141+7,162,793
Erica Gessert5,610,5174,440,7255,514,919+1,169,792
David Bottoms3,515,8093,149,926+365,883

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Hayden BrownDirector2026-05-18D14,850$0$0Derivative, Class A CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18A8,524CommonForm 4 ↗
Hayden BrownDirector2026-05-18D22,5469195,325CommonForm 4 ↗
Hayden BrownDirector2026-05-18A13,638CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-05-18A5,114CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-05-18D5,11400Derivative, Class A CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18A37,500CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18D22,1629191,998CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18D8,52400Derivative, Class A CommonForm 4 ↗
Hayden BrownDirector2026-05-18D50,0009428,475CommonForm 4 ↗
Hayden BrownDirector2026-05-18A14,850CommonForm 4 ↗
Hayden BrownDirector2026-05-18A18,334CommonForm 4 ↗
Hayden BrownDirector2026-05-18D13,63800Derivative, Class A CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-05-18D1,905916,504CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18D37,50000Derivative, Class A CommonForm 4 ↗
Hayden BrownDirector2026-05-18D18,33400Derivative, Class A CommonForm 4 ↗
Claire BramleyDirector2026-06-04A45,14600CommonForm 4 ↗
Gary SteeleDirector2026-06-04A6,20700CommonForm 4 ↗
Dana L. EvanDirector2026-06-04A20,88000CommonForm 4 ↗
Thomas LaytonDirector2026-06-04A6,77200CommonForm 4 ↗
Thomas LaytonDirector2026-06-04A20,88000CommonForm 4 ↗
Thomas LaytonDirector2026-06-04A6,20700CommonForm 4 ↗
Gary SteeleDirector2026-06-04A20,88000CommonForm 4 ↗
David LissyDirector2026-06-04A45,14600CommonForm 4 ↗
Kevin HarveyDirector2026-06-04A20,88000CommonForm 4 ↗
Glenn KelmanDirector2026-06-04A6,20700CommonForm 4 ↗
Glenn KelmanDirector2026-06-04A20,88000CommonForm 4 ↗
Kevin HarveyDirector2026-06-04A6,20700CommonForm 4 ↗
David LissyDirector2026-06-04A20,88000CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18A8,432CommonForm 4 ↗
Sabrina MekhalfaChief Accounting Officer2026-06-18A3,577CommonForm 4 ↗
Sabrina MekhalfaChief Accounting Officer2026-06-18D3,57700Derivative, Class A CommonForm 4 ↗
Hayden BrownDirector2026-06-18A28,678CommonForm 4 ↗
Hayden BrownDirector2026-06-18D23,4688191,281CommonForm 4 ↗
Hayden BrownDirector2026-06-18A17,733CommonForm 4 ↗
Hayden BrownDirector2026-06-18D28,67800Derivative, Class A CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18A9,700CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18D8,43200Derivative, Class A CommonForm 4 ↗
Sabrina MekhalfaChief Accounting Officer2026-06-18D1,276810,401CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18D9,70000Derivative, Class A CommonForm 4 ↗
Hayden BrownDirector2026-06-18D17,73300Derivative, Class A CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18D9,169874,734CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-07-18A1,412CommonForm 4 ↗
Dividend-equivalent accruals2026-07-181,4121 insider, 1 accrual row
Anthony Ray KappusGM & Chief Operating Officer2026-07-18D55895,053CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 45 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Hayden BrownDirector2026-05-18D14,850$0$0Derivative, Class A CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18A8,524CommonForm 4 ↗
Hayden BrownDirector2026-05-18D22,5469195,325CommonForm 4 ↗
Hayden BrownDirector2026-05-18A13,638CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-05-18A5,114CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-05-18D5,11400Derivative, Class A CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18A37,500CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18D22,1629191,998CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18D8,52400Derivative, Class A CommonForm 4 ↗
Hayden BrownDirector2026-05-18D50,0009428,475CommonForm 4 ↗
Hayden BrownDirector2026-05-18A14,850CommonForm 4 ↗
Hayden BrownDirector2026-05-18A18,334CommonForm 4 ↗
Hayden BrownDirector2026-05-18D13,63800Derivative, Class A CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-05-18D1,905916,504CommonForm 4 ↗
Erica GessertChief Financial Officer2026-05-18D37,50000Derivative, Class A CommonForm 4 ↗
Hayden BrownDirector2026-05-18D18,33400Derivative, Class A CommonForm 4 ↗
Claire BramleyDirector2026-06-04A45,14600CommonForm 4 ↗
Gary SteeleDirector2026-06-04A6,20700CommonForm 4 ↗
Dana L. EvanDirector2026-06-04A20,88000CommonForm 4 ↗
Thomas LaytonDirector2026-06-04A6,77200CommonForm 4 ↗
Thomas LaytonDirector2026-06-04A20,88000CommonForm 4 ↗
Thomas LaytonDirector2026-06-04A6,20700CommonForm 4 ↗
Gary SteeleDirector2026-06-04A20,88000CommonForm 4 ↗
David LissyDirector2026-06-04A45,14600CommonForm 4 ↗
Kevin HarveyDirector2026-06-04A20,88000CommonForm 4 ↗
Glenn KelmanDirector2026-06-04A6,20700CommonForm 4 ↗
Glenn KelmanDirector2026-06-04A20,88000CommonForm 4 ↗
Kevin HarveyDirector2026-06-04A6,20700CommonForm 4 ↗
David LissyDirector2026-06-04A20,88000CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18A8,432CommonForm 4 ↗
Sabrina MekhalfaChief Accounting Officer2026-06-18A3,577CommonForm 4 ↗
Sabrina MekhalfaChief Accounting Officer2026-06-18D3,57700Derivative, Class A CommonForm 4 ↗
Hayden BrownDirector2026-06-18A28,678CommonForm 4 ↗
Hayden BrownDirector2026-06-18D23,4688191,281CommonForm 4 ↗
Hayden BrownDirector2026-06-18A17,733CommonForm 4 ↗
Hayden BrownDirector2026-06-18D28,67800Derivative, Class A CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18A9,700CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18D8,43200Derivative, Class A CommonForm 4 ↗
Sabrina MekhalfaChief Accounting Officer2026-06-18D1,276810,401CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18D9,70000Derivative, Class A CommonForm 4 ↗
Hayden BrownDirector2026-06-18D17,73300Derivative, Class A CommonForm 4 ↗
Erica GessertChief Financial Officer2026-06-18D9,169874,734CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-07-18A1,412CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-07-18D1,41200Derivative, Class A CommonForm 4 ↗
Anthony Ray KappusGM & Chief Operating Officer2026-07-18D55895,053CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Hayden BrownRSU2025-03-18458,839$6,061,263
Erica GessertPSU2025-03-18387155,195310,3902,050,126
Hayden BrownPSU2025-03-181,720688,2591,376,5189,091,901
Erica GessertRSU2025-03-18155,1952,050,126
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Hayden Brown$6,061,263$9,091,901$060.0%
Erica Gessert2,050,1262,050,126050.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Erica GessertPSU310,390$6,151,930
David BottomsPSU26,940533,951
Hayden BrownRSU91,6671,816,840
David BottomsRSU54,2121,074,482
Hayden BrownPSU1,376,51827,282,587
Erica GessertRSU126,0962,499,223
Erica GessertRSU40,477802,254
Erica GessertRSU75,8961,504,259
David BottomsRSU18,750371,625
Hayden BrownRSU7,611150,850
David BottomsRSU28,912573,036
Hayden BrownRSU9,589190,054
David BottomsRSU76,7541,521,264
David BottomsPSU188,9323,744,632
Hayden BrownRSU372,8077,389,035
Erica GessertPSU225,0004,459,500
Hayden BrownPSU212,7994,217,676
Hayden BrownRSU159,5993,163,252
Hayden BrownRSU127,6782,530,578
Hayden BrownRSU74,2501,471,635
Erica GessertPSU67,4631,337,117
David BottomsPSU48,188955,086
05

Incentive-plan design — the Compensation Discussion & Analysis

Upwork's executive compensation philosophy is to provide a competitive compensation program that attracts and retains talented executives and aligns their economic interests with those of stockholders by motivating and rewarding achievement of short- and long-term business objectives, with the goal of creating sustainable long-term value. The program emphasizes at-risk, performance-based compensation heavily weighted toward equity, with 97% of CEO and an average of 88% of non-CEO NEO target compensation at risk.

CEO STI target (% of salary)115%
CEO LTI target (% of salary)
Independent consultantSemler Brossy Consulting Group LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0468,934,39526,782,943127,53272.02%Passed
20252025-06-0598,895,6166,724,74723,10093.63%Passed
20242024-06-0787,153,7595,853,96466,92293.71%Passed
20232023-06-0952,910,47335,638,8265,503,24359.75%Passed
20222022-06-0265,413,93626,795,945285,03970.94%Passed
20212021-06-0182,830,2823,173,859217,15296.31%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-0472.02%a
20252025-06-0593.63%b
20242024-06-0793.71%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)287 : 1
CEO total compensation$17,094,702
Median employee compensation$59,608
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Glenn KelmanIndependent · Nominating and Governance · Partial-year service$3,750$593,565$0$0$597,315
Dana L. EvanIndependent · Audit, Risk and Compliance (Chair)50,900542,56100593,461
Thomas LaytonIndependent · Board Chair · Nominating and Governance (Chair)8,500278,21400286,714
Leela SrinivasanIndependent · Audit, Risk and Compliance · Compensation · Not standing for re-election72,500171,57300244,073
Anilu Vazquez-UbarriIndependent · Audit, Risk and Compliance · Compensation · Not standing for re-election67,500171,57300239,073
Gary SteeleIndependent · Compensation (Chair)15,000222,57800237,578
Kevin HarveyIndependent · Nominating and Governance4,300222,57800226,878
Elizabeth NelsonIndependent · Audit, Risk and Compliance · Not standing for re-election · Departed during FY47,1500047,150
Gregory C. GretschIndependent · Compensation · Departed during FY12,5000012,500
Claire BramleyIndependent · Audit, Risk and Compliance · Partial-year service · Newly elected00000
David LissyIndependent · Audit, Risk and Compliance · Partial-year service · Newly elected00000
Hayden BrownEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$55,000
Annual equity retainer$185,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)35,000 / 15,000 / 8,500
Stock ownership guideline3x annual cash retainer for service as member of board of directors
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$282,100
Equity awards (grant-date value)$2,202,642
All other compensation$0
Total cost of the board$2,484,742

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Upwork, Inc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Upwork, Inc.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Asana2026Dan Rogers$345,313$38,737,939$0$0$39,480,980
2Paylocity2025Toby Williams680,96016,319,5300951,47118,044,482
3Upwork, Inc2025Hayden Brown625,00015,153,16501,289,43817,094,702
4BlackLine2025Owen Ryan524,2315,694,9414,908,126473,37811,614,676
5Q2 Holdings2025Matthew Flake520,00010,372,9980552,87911,492,510
6Smartsheet2024Mark P. Mader587,0779,085,2220511,13410,205,886
7Tripadvisor2025Matt Goldberg900,0008,199,9940840,96010,086,426
8CarGurus2025Jason Trevisan647,5006,499,9750709,3257,889,260
9Shutterstock2024Paul Hennessy700,0005,871,6700583,8007,176,468
10Fastly2025Charles Compton438,7826,313,831006,798,332
11Magnite2025Michael Barrett650,0003,601,632927,883629,4605,842,620
12AppFolio2025Shane Trigg550,0004,000,3070814,0005,438,904
13Cars.com2025Tobias Hartmann20,5485,000,005005,020,553
14Appian2025Matthew Calkins1,150,0001,760,000002,941,276
15ZipRecruiter2025Ian Siegel550,0002,289,8402,851,838
16LegalZoom.com2025Jeffrey Stibel575,00000745,7751,334,775
17Revolve Group2025Mike Karanikolas450,000000484,573
18Redfin2023Glenn Kelman300,000000300,000
Fiverr Internationalnot in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Upwork, Inc179.4%PSU 60 · RSU 40Yes — Relative TSR CAGRSemler Brossy Consulting Group LLC
AppFolio148%PSU 60 · RSU 40Nonot disclosed
Appiannot disclosedRSU 100Nonot disclosed
Asana53.4%RSU 52 · PSU 48Yes — Relative Total Stockholder Return (rTSR)Compensia
BlackLine90.1%RSU 50 · PSU 50Yes — Relative TSRCompensia
CarGurus108.29%RSU 100not disclosedCompensia, Inc.
Cars.com80.4%PSU 50 · RSU 50NoKorn Ferry (Jan–Jul 2025); Compensia Inc. (Aug 2025 onward)
Fastly135.4%PSU 50 · RSU 50Yes — Relative Total Shareholder Return (rTSR)Semler Brossy
Fiverr Internationalnot disclosednot disclosednot disclosednot disclosed
LegalZoom.com129.7%PSU 70 · RSU 30YesExequity LLP
Magnite100.38%PSU 50 · RSU 30 · Options 20Yes — TSR performance relative to the Russell 2000 indexSemler Brossy Consulting Group, LLC
Paylocity138%RSU 50 · PSU 33 · MSU 17NoCompensia
Q2 Holdings106.3%PSU 50 · RSU 50Yes — Relative TSRMercer
Redfin10%PSU 62.5 · RSU 37.5NoCompensia
Revolve Group175%Options 100not disclosednot disclosed
Shutterstock83.4%not disclosedNoPearl Meyer
Smartsheet87.4%PSU 50 · RSU 50NoCompensia
Tripadvisor93.4%RSU 50 · PSU 50NoFW Cook
ZipRecruiternot disclosedRSU 100not disclosedSemler Brossy

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at Upwork, Inc in fiscal 2025?
As disclosed, the highest-paid executive at Upwork, Inc in fiscal 2025 was Hayden Brown, President and Chief Executive Officer, with total compensation of $17,094,702.
How does Upwork, Inc's chief executive pay compare to its disclosed peer group?
The filing shows that Hayden Brown's pay placed him in the 88th percentile of the disclosed peer group.
What is Upwork, Inc's CEO-to-median employee pay ratio?
The company reported a CEO-to-median employee pay ratio of 287:1 for fiscal 2025.
How did shareholders vote on Upwork, Inc's executive compensation?
Shareholders cast a 72.02% vote in support of Upwork, Inc's latest executive compensation plan.
How much does Upwork, Inc spend in total on board compensation for fiscal 2025?
The total board compensation for Upwork, Inc in fiscal 2025 was $2,484,742.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Hayden BrownDEF 14A2026-04-230001627475-26-000026Section “2025 Summary Compensation Table”. As printed: 17,094,702. Filing ↗machine: r2 · c6 · span 2036869–2036879
2Section 01, Erica GessertDEF 14A2026-04-230001627475-26-000026Section “2025 Summary Compensation Table”. As printed: 5,610,517. Filing ↗machine: r5 · c6 · span 2046767–2046776
3Section 01, David BottomsDEF 14A2026-04-230001627475-26-000026Section “2025 Summary Compensation Table”. As printed: 3,515,809. Filing ↗machine: t162 · r8 · c6 · span 2056752–2056761
4Section 03, Hayden Brown RSUDEF 14A2026-04-230001627475-26-000026Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t164 · r4 · c11 · span 2101684–2101693
5Section 03, Erica Gessert PSUDEF 14A2026-04-230001627475-26-000026Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t164 · r7 · c11 · span 2118748–2118757
6Section 03, Hayden Brown PSUDEF 14A2026-04-230001627475-26-000026Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t164 · r5 · c11 · span 2107141–2107150
7Section 03, Erica Gessert RSUDEF 14A2026-04-230001627475-26-000026Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t164 · r7 · c11 · span 2118748–2118757
8Section 07, pay ratioDEF 14A2026-04-230001627475-26-000026Section “CEO Pay Ratio”. As printed: 287 : 1. Filing ↗machine: span 2659994–2660002
9Section 08, Glenn KelmanDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 597,315. Filing ↗machine: t94 · r6 · c3 · span 1192992–1192999
10Section 08, Dana L. EvanDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 593,461. Filing ↗machine: t94 · r3 · c3 · span 1186302–1186309
11Section 08, Thomas LaytonDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 286,714. Filing ↗machine: t94 · r2 · c3 · span 1184048–1184055
12Section 08, Leela SrinivasanDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 244,073. Filing ↗machine: t94 · r8 · c3 · span 1197454–1197461
13Section 08, Anilu Vazquez-UbarriDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 239,073. Filing ↗machine: t94 · r10 · c3 · span 1201953–1201960
14Section 08, Gary SteeleDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 237,578. Filing ↗machine: t94 · r9 · c3 · span 1199699–1199706
15Section 08, Kevin HarveyDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 226,878. Filing ↗machine: t94 · r5 · c3 · span 1190752–1190759
16Section 08, Elizabeth NelsonDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 47,150. Filing ↗machine: t94 · r7 · c1 · span 1194233–1194239
17Section 08, Gregory C. GretschDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 12,500. Filing ↗machine: t94 · r4 · c1 · span 1187542–1187548
18Section 08, Claire BramleyDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, David LissyDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, Hayden BrownDEF 14A2026-04-230001627475-26-000026Section “Director Compensation”. As printed: 0. Filing ↗
21Section 02, Hayden Brown 2026-05-18Form 42026-05-200001753662-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Erica Gessert 2026-05-18Form 42026-05-200001975669-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Hayden Brown 2026-05-18Form 42026-05-200001753662-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Hayden Brown 2026-05-18Form 42026-05-200001753662-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Anthony Ray Kappus 2026-05-18Form 42026-05-200001860481-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Anthony Ray Kappus 2026-05-18Form 42026-05-200001860481-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Erica Gessert 2026-05-18Form 42026-05-200001975669-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Erica Gessert 2026-05-18Form 42026-05-200001975669-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Erica Gessert 2026-05-18Form 42026-05-200001975669-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Hayden Brown 2026-05-18Form 42026-05-200001753662-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Hayden Brown 2026-05-18Form 42026-05-200001753662-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Hayden Brown 2026-05-18Form 42026-05-200001753662-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Hayden Brown 2026-05-18Form 42026-05-200001753662-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Anthony Ray Kappus 2026-05-18Form 42026-05-200001860481-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Erica Gessert 2026-05-18Form 42026-05-200001975669-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Hayden Brown 2026-05-18Form 42026-05-200001753662-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Claire Bramley 2026-06-04Form 42026-06-080001759953-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Gary Steele 2026-06-04Form 42026-06-080001547434-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Dana L. Evan 2026-06-04Form 42026-06-080001204818-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Thomas Layton 2026-06-04Form 42026-06-080001079457-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Thomas Layton 2026-06-04Form 42026-06-080001079457-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Thomas Layton 2026-06-04Form 42026-06-080001079457-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Gary Steele 2026-06-04Form 42026-06-080001547434-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, David Lissy 2026-06-04Form 42026-06-080001193298-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Kevin Harvey 2026-06-04Form 42026-06-080001190213-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Glenn Kelman 2026-06-04Form 42026-06-080001193764-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Glenn Kelman 2026-06-04Form 42026-06-080001193764-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Kevin Harvey 2026-06-04Form 42026-06-080001190213-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, David Lissy 2026-06-04Form 42026-06-080001193298-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Erica Gessert 2026-06-18Form 42026-06-230001975669-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Sabrina Mekhalfa 2026-06-18Form 42026-06-230001887993-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Sabrina Mekhalfa 2026-06-18Form 42026-06-230001887993-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Hayden Brown 2026-06-18Form 42026-06-230001753662-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Hayden Brown 2026-06-18Form 42026-06-230001753662-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Hayden Brown 2026-06-18Form 42026-06-230001753662-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Hayden Brown 2026-06-18Form 42026-06-230001753662-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Erica Gessert 2026-06-18Form 42026-06-230001975669-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Erica Gessert 2026-06-18Form 42026-06-230001975669-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Sabrina Mekhalfa 2026-06-18Form 42026-06-230001887993-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Erica Gessert 2026-06-18Form 42026-06-230001975669-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Hayden Brown 2026-06-18Form 42026-06-230001753662-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Erica Gessert 2026-06-18Form 42026-06-230001975669-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Anthony Ray Kappus 2026-07-18Form 42026-07-210001860481-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Anthony Ray Kappus 2026-07-18Form 42026-07-210001860481-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Anthony Ray Kappus 2026-07-18Form 42026-07-210001860481-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
66Section 06, 2026 voteForm 8-K2026-06-050001627475-26-000036Item 5.07 · say-on-pay result. As reported: 72.02% (votes for as printed: 68,934,395). Filing ↗
67Section 06, 2025 voteForm 8-K2025-06-050001627475-25-000035Item 5.07 · say-on-pay result. As reported: 93.63% (votes for as printed: 98,895,616). Filing ↗
68Section 06, 2024 voteForm 8-K2024-06-100001627475-24-000024Item 5.07 · say-on-pay result. As reported: 93.71% (votes for as printed: 87,153,759). Filing ↗
69Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
70Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
71Section 09b board cost (computed)ComputedcomputedCash 282,100 + equity 2,202,642 + all other 0 = 2,484,742, summed across the director compensation table rows.machine: formula: Σ = 2,484,742
72Asana, Section 10b CEO totalDEF 14A2026-04-200001628280-26-025998CEO total compensation as printed in Asana's own proxy. As printed: 39,480,980. Filing ↗machine: r4 · c27 · span 819036–819046
73Paylocity, Section 10b CEO totalDEF 14A2025-10-230001591698-25-000102CEO total compensation as printed in Paylocity's own proxy. As printed: 18,044,482. Filing ↗machine: t90 · r2 · c24 · span 674330–674340
74Upwork, Inc (subject), Section 10b CEO totalDEF 14A2026-04-230001627475-26-000026CEO total compensation as printed in Upwork, Inc's own proxy. As printed: 17,094,702. Filing ↗machine: r2 · c6 · span 2036869–2036879
75BlackLine, Section 10b CEO totalDEF 14A2026-03-250001628280-26-020925CEO total compensation as printed in BlackLine's own proxy. As printed: 11,614,676. Filing ↗machine: r2 · c54 · span 948504–948514
76Q2 Holdings, Section 10b CEO totalDEF 14A2026-04-290001410384-26-000029CEO total compensation as printed in Q2 Holdings's own proxy. As printed: 11,492,510. Filing ↗machine: span 684167–684177
77Smartsheet, Section 10b CEO totalDEF 14A2024-05-010001366561-24-000093CEO total compensation as printed in Smartsheet's own proxy. As printed: 10,205,886. Filing ↗machine: r2 · c48 · span 623515–623525
78Tripadvisor, Section 10b CEO totalDEF 14A2026-04-300001193125-26-197113CEO total compensation as printed in Tripadvisor's own proxy. As printed: 10,086,426. Filing ↗machine: r2 · c16 · span 976816–976826
79CarGurus, Section 10b CEO totalDEF 14A2026-04-220001193125-26-170400CEO total compensation as printed in CarGurus's own proxy. As printed: 7,889,260. Filing ↗machine: r2 · c7 · span 953842–953851
80Shutterstock, Section 10b CEO totalDEF 14A2025-11-200001549346-25-000050CEO total compensation as printed in Shutterstock's own proxy. As printed: 7,176,468. Filing ↗machine: r5 · c24 · span 438445–438454
81Fastly, Section 10b CEO totalDEF 14A2026-04-220001140361-26-016095CEO total compensation as printed in Fastly's own proxy. As printed: 6,798,332. Filing ↗machine: r2 · c25 · span 929622–929631
82Magnite, Section 10b CEO totalDEF 14A2026-04-210001999371-26-008635CEO total compensation as printed in Magnite's own proxy. As printed: 5,842,620. Filing ↗machine: r2 · c8 · span 419913–419922
83AppFolio, Section 10b CEO totalDEF 14A2026-04-280001433195-26-000031CEO total compensation as printed in AppFolio's own proxy. As printed: 5,438,904. Filing ↗machine: r3 · c51 · span 627702–627711
84Cars.com, Section 10b CEO totalDEF 14A2026-04-170001140361-26-015383CEO total compensation as printed in Cars.com's own proxy. As printed: 5,020,553. Filing ↗machine: t136 · r12 · c13 · span 937383–937392
85Appian, Section 10b CEO totalDEF 14A2026-04-220001441683-26-000021CEO total compensation as printed in Appian's own proxy. As printed: 2,941,276. Filing ↗machine: r2 · c42 · span 416139–416148
86ZipRecruiter, Section 10b CEO totalDEF 14A2026-04-240001617553-26-000023CEO total compensation as printed in ZipRecruiter's own proxy. As printed: 2,851,838. Filing ↗machine: r2 · c51 · span 453733–453742
87LegalZoom.com, Section 10b CEO totalDEF 14A2026-04-220001193125-26-170325CEO total compensation as printed in LegalZoom.com's own proxy. As printed: 1,334,775. Filing ↗machine: r3 · c16 · span 572677–572686
88Revolve Group, Section 10b CEO totalDEF 14A2026-04-240001193125-26-177284CEO total compensation as printed in Revolve Group's own proxy. As printed: 484,573. Filing ↗machine: r2 · c16 · span 474510–474517
89Redfin, Section 10b CEO totalDEF 14A2024-04-250001382821-24-000045CEO total compensation as printed in Redfin's own proxy. As printed: 300,000. Filing ↗machine: t17 · r2 · c3 · span 301713–301720
90Section 10a, Fastly reciprocityDEF 14A0001140361-26-016095Fastly's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
91Section 10a, LegalZoom.com reciprocityDEF 14A0001193125-26-170325LegalZoom.com names Upwork, Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
92Section 10a, Paylocity reciprocityDEF 14A0001591698-25-000102Paylocity's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
93Section 10a, Q2 Holdings reciprocityDEF 14A0001410384-26-000029Q2 Holdings's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
94Section 10a, Redfin reciprocityDEF 14A0001382821-24-000045Redfin's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
95Section 10a, Shutterstock reciprocityDEF 14A0001549346-25-000050Shutterstock's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
96Section 10a, BlackLine reciprocityDEF 14A0001628280-26-020925BlackLine's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
97Section 10a, ZipRecruiter reciprocityDEF 14A0001617553-26-000023ZipRecruiter names Upwork, Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
98Section 10a, Magnite reciprocityDEF 14A0001999371-26-008635Magnite's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
99Section 10a, Revolve Group reciprocityDEF 14A0001193125-26-177284Revolve Group's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
100Section 10a, Tripadvisor reciprocityDEF 14A0001193125-26-197113Tripadvisor's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
101Section 10a, Asana reciprocityDEF 14A0001628280-26-025998Asana's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗
102Section 10a, Cars.com reciprocityDEF 14A0001140361-26-015383Cars.com names Upwork, Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
103Section 10a, Smartsheet reciprocityDEF 14A0001366561-24-000093Smartsheet's most recent proxy was read; its disclosed peer group does not include Upwork, Inc. Filing ↗