Upwork Inc.
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(Name of Issuer)
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Common Stock, par value $0.0001 per share
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(Title of Class of Securities)
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91688F104
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(CUSIP Number)
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December 31, 2018
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(Date of Event Which Requires Filing of this Statement)
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CUSIP No. 91688F104
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13G
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Page 2 of 9 Pages
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1
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NAMES OF REPORTING PERSONS
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SG GROWTH PARTNERS I, LP
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)☐
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(b)☐
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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DELAWARE
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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5
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SOLE VOTING POWER
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5,309,646*
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6
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SHARED VOTING POWER
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0
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7
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SOLE DISPOSITIVE POWER
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5,309,646*
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8
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SHARED DISPOSITIVE POWER
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0
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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5,309,646*
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||||
10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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5.0%**
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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PN
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* |
Consists of 5,309,646 shares of Common Stock, par value $0.0001 per share (the “Common
Stock”) held of record by SG Growth Partners I, LP. SGGP I, LLC, the general partner of SG Growth Partners I LP, has sole voting and dispositive power over such shares and voting decisions with respect to such shares are made
by Kenneth A. Fox and Daniel C. Marriott as the investment committee of SGGP I, LLC. Mr. Fox and Mr. Marriott disclaim beneficial ownership of such shares except to the extent of any pecuniary interest therein.
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** |
All percentage calculations set forth herein are based upon 106,299,106 outstanding shares of Common Stock as of October 31, 2018 as reported by the Issuer to
the reporting persons. The reporting persons acquired the reported shares prior to the registration of the Common Stock under Section 12 of the Securities Exchange Act of 1934, as amended.
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CUSIP No. 91688F104
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13G
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Page 3
of 9 Pages
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1
|
NAMES OF REPORTING PERSONS
|
|
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||
SGGP I, LLC
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|
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|||
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||||
2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
(a)☐
|
|||||
(b)☐
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|||
3
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SEC USE ONLY
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||||
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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DELAWARE
|
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|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
5,309,646*
|
|
|
|||
|
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||||
6
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SHARED VOTING POWER
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0
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|||
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||||
7
|
SOLE DISPOSITIVE POWER
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||
5,309,646*
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|||
|
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||||
8
|
SHARED DISPOSITIVE POWER
|
|
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||
0
|
|
|
|||
|
|
||||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
5,309,646*
|
|
|
|||
|
|
||||
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
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||
☐
|
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|||
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|
||||
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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5.0%**
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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OO (Limited Liability Company)
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* |
Consists of 5,309,646 shares of Common Stock, par value $0.0001 per share (the “Common
Stock”) held of record by SG Growth Partners I, LP. SGGP I, LLC, the general partner of SG Growth Partners I LP, has sole voting and dispositive power over such shares and voting decisions with respect to such shares are
made by Kenneth A. Fox and Daniel C. Marriott as the investment committee of SGGP I, LLC. Mr. Fox and Mr. Marriott disclaim beneficial ownership of such shares except to the extent of any pecuniary interest therein.
|
** |
All percentage calculations set forth herein are based upon 106,299,106 outstanding shares of Common Stock as of October 31, 2018 as reported by the Issuer to
the reporting persons. The reporting persons acquired the reported shares prior to the registration of the Common Stock under Section 12 of the Securities Exchange Act of 1934, as amended.
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CUSIP No. 91688F104
|
13G
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Page 4
of 9 Pages
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1
|
NAMES OF REPORTING PERSONS
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DANIEL C. MARRIOTT
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
(a)☐
|
|||||
(b)☐
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|||
3
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SEC USE ONLY
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|||
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||||
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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UNITED STATES
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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5
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SOLE VOTING POWER
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5,310,812.67*
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|||
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||||
6
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SHARED VOTING POWER
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0
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|||
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||||
7
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SOLE DISPOSITIVE POWER
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5,310,812.67*
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||||
8
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SHARED DISPOSITIVE POWER
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0
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|||
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||||
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
5,310,812.67*
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|||
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|
||||
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
☐
|
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|
|||
|
|
||||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
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||
5.0%**
|
|
|
|||
|
|
||||
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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IN
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Consists of (i) 5,309,646 shares of Common Stock, par value $0.0001 per share (the “Common Stock”) held of record by SG Growth Partners I, LP and (ii) 1,166.67 shares of Common Stock that have vested or will vest within 60 days pursuant to an award of
Restricted Stock Units granted to Mr. Marriott on October 1, 2018. SGGP I, LLC, the general partner of SG Growth Partners I LP, has sole voting and dispositive power over such shares and voting decisions with respect to such shares are
made by Kenneth A. Fox and Daniel C. Marriott as the investment committee of SGGP I, LLC. Mr. Fox and Mr. Marriott disclaim beneficial ownership of such shares except to the extent of any pecuniary interest therein.
|
|
**
|
All percentage calculations set forth herein are based upon 106,299,106 outstanding shares of Common Stock as of
October 31, 2018 as reported by the Issuer to the reporting persons. The reporting persons acquired the reported shares prior to the registration of the Common Stock under Section 12 of the Securities Exchange Act of 1934, as amended.
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CUSIP No. 91688F104
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13G
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Page 5
of 9 Pages
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1
|
NAMES OF REPORTING PERSONS
|
|
|
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KENNETH A. FOX
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|||
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|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
(a)☐
|
|||||
(b)☐
|
|
|
|||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
UNITED STATES
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
5,309,646*
|
|
|
|||
|
|
||||
6
|
SHARED VOTING POWER
|
|
|
||
0
|
|
|
|||
|
|
||||
7
|
SOLE DISPOSITIVE POWER
|
|
|
||
5,309,646*
|
|
|
|||
|
|
||||
8
|
SHARED DISPOSITIVE POWER
|
|
|
||
0
|
|
|
|||
|
|
||||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
5,309,646*
|
|
|
|||
|
|
||||
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
☐
|
|
|
|||
|
|
||||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
5.0%**
|
|
|
|||
|
|
||||
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
IN
|
|
|
|||
|
|
* |
Consists of 5,309,646 shares of Common Stock, par value $0.0001 per share (the “Common
Stock”) held of record by SG Growth Partners I, LP. SGGP I, LLC, the general partner of SG Growth Partners I LP, has sole voting and dispositive power over such shares and voting decisions with respect to such shares are
made by Kenneth A. Fox and Daniel C. Marriott as the investment committee of SGGP I, LLC. Mr. Fox and Mr. Marriott disclaim beneficial ownership of such shares except to the extent of any pecuniary interest therein.
|
** |
All percentage calculations set forth herein are based upon 106,299,106 outstanding shares of Common Stock as of October 31, 2018 as reported by the Issuer to
the reporting persons. The reporting persons acquired the reported shares prior to the registration of the Common Stock under Section 12 of the Securities Exchange Act of 1934, as amended.
|
CUSIP No. 91688F104
|
13G
|
Page 6
of 9 Pages
|
Item 1(a). | Name of Issuer: |
Item 1(b). | Address of Issuer's Principal Executive Offices: |
Item 2(a). | Name of Person Filing: |
Item 2(b). | Address of Principal Business Office or, if none, Residence: |
Item 2(c). | Citizenship: |
Item 2(d). | Title of Class of Securities: |
Item 2(e). | CUSIP Number: |
Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or |
CUSIP No. 91688F104
|
13G
|
Page
7 of 9 Pages
|
Item 4. | Ownership. |
Item 5. | Ownership of Five Percent or Less of a Class. |
Item 6. | Ownership of More Than Five Percent on Behalf of Another Person. |
Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. |
Item 8. | Identification and Classification of Members of the Group. |
Item 9. | Notice of Dissolution of Group. |
Item 10.
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Certification.
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SG GROWTH PARTNERS I, LP
|
|||
By: SGGP I, LLC, its general partner
|
|||
By: /s/ Kenneth A. Fox
|
|||
Name: Kenneth A. Fox
|
|||
Title: Member
|
|||
SGGP I, LLC
|
|||
By: /s/ Kenneth A. Fox
|
|||
Name: Kenneth A. Fox
|
|||
Title: Member
|
|||
By: /s/ Daniel C. Marriott
|
|||
Name: Daniel C. Marriott
|
|||
By: /s/ Kenneth A. Fox
|
|||
Name: Kenneth A. Fox
|
|||
SG GROWTH PARTNERS I, LP
|
|||
By: SGGP I, LLC, its general partner
|
|||
By: /s/ Kenneth A. Fox
|
|||
Name: Kenneth A. Fox
|
|||
Title: Member
|
|||
SGGP I, LLC
|
|||
By: /s/ Kenneth A. Fox
|
|||
Name: Kenneth A. Fox
|
|||
Title: Member
|
|||
By: /s/ Daniel C. Marriott
|
|||
Name: Daniel C. Marriott
|
|||
By: /s/ Kenneth A. Fox
|
|||
Name: Kenneth A. Fox
|
|||