Sec Form 13G Filing - SIGMA PARTNERS 6 LP filing for UPWORK INC (UPWK) - 2021-02-10

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

SCHEDULE 13G

(Rule 13d-102)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1 (b),

(c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (b)

(Amendment No. 2 )*

 

UPWORK INC.

(Name of Issuer)

 

COMMON STOCK

(Title of Class of Securities)

 

91688F104

(CUSIP Number)

 

DECEMBER 31, 2020

(Date of Event Which Requires Filing of This Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

 

o

Rule 13d-1(b)

 

 

 

 

o

Rule 13d-1(c)

 

 

 

 

x

Rule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


 

1.

Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only)

 

Sigma Partners 6, L.P.

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  o

(b)  x (1)

3.

SEC USE ONLY

4.

Citizenship or Place of Organization

 

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

0 shares

6.

Shared Voting Power

 

0

7.

Sole Dispositive Power

 

0 shares

8.

Shared Dispositive Power

 

0

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

0 shares

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

11.

Percent of Class Represented by Amount in Row (9)

 

0%

12.

Type of Reporting Person (See Instructions)

 

PN

 


(1)   This Schedule 13G is filed by Sigma Partners 6, L.P. (“SP 6”), Sigma Associates 6, L.P. (“SA 6”) and Sigma Investors 6, L.P. (“SI 6”), Sigma Management 6, L.L.C. (“SM 6” and, together with SP 6, SA 6 and SI 6, the “Sigma Entities”).  The Sigma Entities expressly disclaim status as a “group” for purposes of this Schedule 13G.

 

2


 

1.

Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only)

 

Sigma Associates 6, L.P.

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  o

(b)  x (1)

3.

SEC USE ONLY

4.

Citizenship or Place of Organization

 

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

0 shares

6.

Shared Voting Power

 

0

7.

Sole Dispositive Power

 

0 shares

8.

Shared Dispositive Power

 

0

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

0 shares

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

11.

Percent of Class Represented by Amount in Row (9)

 

0%

12.

Type of Reporting Person (See Instructions)

 

PN

 


(1)         This Schedule 13G is filed by the Sigma Entities.

 

3


 

1.

Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only)

 

Sigma Investors 6, L.P.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  x (1)

3.

SEC USE ONLY

4.

Citizenship or Place of Organization

 

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

0 shares

6.

Shared Voting Power

 

0

7.

Sole Dispositive Power

 

0 shares

8.

Shared Dispositive Power

 

0

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

0 shares

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

11.

Percent of Class Represented by Amount in Row (9)

 

0%

12.

Type of Reporting Person (See Instructions)

 

PN

 


(1)         This Schedule 13G is filed by the Sigma Entities.

 

4


 

1.

Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only)

 

Sigma Management 6, L.L.C.

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  o

(b)  x (1)

3.

SEC USE ONLY

4.

Citizenship or Place of Organization

 

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

0

6.

Shared Voting Power

 

0 shares

7.

Sole Dispositive Power

 

0

8.

Shared Dispositive Power

 

0 shares

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

0 shares

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

11.

Percent of Class Represented by Amount in Row (9)

 

0%

12.

Type of Reporting Person (See Instructions)

 

OO

 


(1)         This Schedule 13G is filed by the Sigma Entities.

 

5


 

Item 1(a)       Name of Issuer

 

Upwork Inc.

 

Item 1(b)       Address of Issuer’s Principal Executive Offices

 

2625 Augustine Dr Suite 601

Santa Clara, CA 95054

 

Item 2(a)       Name of Person Filing

 

Sigma Partners 6, L.P. (“SP 6”)

Sigma Associates 6, L.P. (“SA 6”)

Sigma Investors 6, L.P. (“SI 6”)

Sigma Management 6, L.L.C. (“SM 6”)

 

Item 2(b)       Address of Principal Business Office or, if none, Residence

 

2105 South Bascom Avenue, Suite 370

Campbell, CA  95008

 

Item 2(c)       Citizenship

 

SP 6

-

Delaware

SA 6

-

Delaware

SI 6

-

Delaware

SM 6

-

Delaware

 

Item 2(d)       Title of Class of Securities

 

Common Stock

 

Item 2(e)       CUSIP Number

 

91688F104

 

Item 3            Not applicable.

 

Item 4            Ownership

 

Sigma Entity

 

Shares Held
Directly

 

Sole
Voting
Power

 

Shared
Voting
Power

 

Sole
Dispositive
Power

 

Shared
Dispositive
Power

 

Beneficial
Ownership

 

Percentage
of Class

 

SP 6

 

0

 

0

 

0

 

0

 

0

 

0

 

0

%

SA 6

 

0

 

0

 

0

 

0

 

0

 

0

 

0

%

SI 6

 

0

 

0

 

0

 

0

 

0

 

0

 

0

%

SM 6

 

0

 

0

 

0

 

0

 

0

 

0

 

0

%

 

Item 5    Ownership of Five Percent or Less of a Class

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following x.

 

Item 6    Ownership of More than Five Percent of Another Person

 

Not applicable.

 

Item 7            Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company

 

Not applicable.

 

Item 8    Identification and Classification of Members of the Group

 

Not applicable.

 

Item 9    Notice of Dissolution of Group

 

Not applicable.

 

Item 10  Certification

 

Not applicable.

 

6


 

SIGNATURE

 

After reasonable inquiry and to t he best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.

 

February 10, 2021

SIGMA PARTNERS 6, L.P.

 

 

 

 

BY:

SIGMA MANAGEMENT 6, L.L.C.

 

ITS:

GENERAL PARTNER

 

 

 

 

By:

/s/ Gregory Gretsch

 

 

Gregory Gretsch

 

 

Managing Director

 

 

 

 

 

 

 

SIGMA ASSOCIATES 6, L.P.

 

 

 

 

BY:

SIGMA MANAGEMENT 6, L.L.C.

 

ITS:

GENERAL PARTNER

 

 

 

 

By:

/s/ Gregory Gretsch

 

 

Gregory Gretsch

 

 

Managing Director

 

 

 

 

 

 

 

SIGMA INVESTORS 6, L.P.

 

 

 

 

BY:

SIGMA MANAGEMENT 6, L.L.C.

 

ITS:

GENERAL PARTNER

 

 

 

 

By:

/s/ Gregory Gretsch

 

 

Gregory Gretsch

 

 

Managing Director

 

 

 

 

 

 

 

SIGMA MANAGEMENT 6, L.L.C.

 

 

 

 

By:

/s/ Gregory Gretsch

 

 

Gregory Gretsch

 

 

Managing Director

 

7


Exhibit 99.1

 

AGREEMENT

 

Pursuant to Rule 13d-1(k)(l) promulgated pursuant to the Securities Exchange Act of 1934, as amended, the undersigned agree that the attached Schedule 13G is being filed on behalf of each of the undersigned.

 

 

February 10, 2021

SIGMA PARTNERS 6, L.P.

 

 

 

 

 

 

BY:

SIGMA MANAGEMENT 6, L.L.C.

 

 

ITS:

GENERAL PARTNER

 

 

 

 

 

 

By:

/s/ Gregory Gretsch

 

 

 

Gregory Gretsch

 

 

 

Managing Director

 

 

 

 

 

 

 

 

 

 

SIGMA ASSOCIATES 6, L.P.

 

 

 

 

 

 

BY:

SIGMA MANAGEMENT 6, L.L.C.

 

 

ITS:

GENERAL PARTNER

 

 

 

 

 

 

By:

/s/ Gregory Gretsch

 

 

 

Gregory Gretsch

 

 

 

Managing Director

 

 

 

 

 

 

 

 

 

 

SIGMA INVESTORS 6, L.P.

 

 

 

 

 

 

BY:

SIGMA MANAGEMENT 6, L.L.C.

 

 

ITS:

GENERAL PARTNER

 

 

 

 

 

 

By:

/s/ Gregory Gretsch

 

 

 

Gregory Gretsch

 

 

 

Managing Director

 

 

 

 

 

 

 

 

 

 

SIGMA MANAGEMENT 6, L.L.C.

 

 

 

 

 

 

By:

/s/ Gregory Gretsch

 

 

 

Gregory Gretsch

 

 

 

Managing Director