Board refresh is administrative and neutral for equity holders. Monitor for any future strategic shifts given Wennes' banking background, but no immediate trading catalyst.
Price Chart
Executive Summary
Upstart announced the election of Tim Wennes, former CEO of Santander Holdings USA, to its Board of Directors effective May 28, 2026, replacing Jeff Huber who is resigning after five years of service with no disagreement. The move adds deep consumer lending expertise (notably auto) as Upstart scales its platform, but is a routine board refresh with no material financial impact.
Key Facts
- Tim Wennes elected to Class I director effective May 28, 2026
- Wennes brings over 35 years financial services experience; previously CEO of Santander Holdings USA ($200B+ assets)
- Jeff Huber resigns from Board and Nominating Committee effective May 28, 2026, not due to any disagreement
- Wennes will receive standard non-employee director compensation per existing policy
- Board has not yet determined committee assignments for Wennes
- No family relationships or related-party transactions disclosed
Financial Impact
No dollar amount disclosed; standard director compensation only
Risk Factors
- No material risk from a routine board appointment and retirement
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001647639-26-000048 |
| Document: upst991newbodq22026.htm | 0001647639-26-000048 |
| Document: 0001647639-26-000048-index-headers.html | 0001647639-26-000048 |
| Document: 0001647639-26-000048-index.html | 0001647639-26-000048 |
| Document: 0001647639-26-000048.txt | 0001647639-26-000048 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 21d ago | Insider Cluster | $25.59 $25.00 | ▼ −2.31% | ▼ −2.08% | $23.02 (−10.04%) |
Aug 27, 2026 5w ago | Insider Cluster | $29.08 $28.05 | ▼ −3.54% | ▼ −3.65% | $23.02 (−20.84%) |
Aug 21, 2026 5w ago | Insider Cluster | $29.89 $28.68 | ▲ +4.05% | ▲ +4.52% | $23.02 (+22.98%) |
Aug 19, 2026 6w ago | Insider Cluster | $30.60 $30.47 | ▼ −0.42% | ▼ −0.04% | $23.02 (−24.77%) |
May 27, 2026 18w ago | Insider Cluster | $32.69 $32.27 | ▼ −1.28% | ▼ −1.60% | $23.02 (−29.58%) |
May 20, 2026 19w ago | 144 | $28.85 $32.69 | ▲ +13.31% | ▲ +11.71% | $23.02 (−20.21%) |
May 19, 2026 19w ago | 8-K | $28.08 $30.45 | ▲ +8.44% | ▲ +6.19% | $23.02 (−18.02%) |
May 18, 2026 19w ago | Insider Cluster | $28.08 $30.45 | ▲ +8.44% | ▲ +6.19% | $23.02 (−18.02%) |
May 15, 2026 19w ago | 144 | $27.94 $30.62 | ▲ +9.59% | ▲ +7.97% | $23.02 (−17.61%) |
May 7, 2026 21w ago | Insider Cluster | $29.00 $29.71 | ▲ +2.45% | ▲ +0.15% | $23.02 (−20.62%) |
US Market Status
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