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Get filing alertsUpstart appoints banking veteran Tim Wennes to board as Jeff Huber resigns
Filed May 19, 2026 · Period ending May 19, 2026 · ~1 min read
Key Changes
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Tim Wennes, former CEO of Santander Holdings USA (2019-2025) with 35+ years in financial services, joins as Class I director effective May 28, 2026. His banking expertise could strengthen Upstart's institutional relationships.
Item 5.02 verify on EDGAR → -
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Jeff Huber resigned from the Board and Nominating Committee effective May 28, 2026. Company explicitly stated resignation was not due to any disagreement regarding operations, policies, or procedures.
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Wennes will receive standard non-employee director compensation under the company's Outside Director Compensation Policy. No special arrangements disclosed.
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Summary
Upstart is refreshing its board with a simultaneous director departure and appointment, both effective May 28, 2026. Tim Wennes brings deep traditional banking credentials as the former President and CEO of Santander Holdings USA, plus prior executive roles at MUFG Union Bank and Countrywide Bank.
His appointment suggests Upstart may be strengthening its governance around banking partnerships and regulatory relationships—critical for a fintech lender that depends on institutional funding sources. Jeff Huber's resignation appears routine, with the company explicitly noting no disagreements were involved.
The timing—announced the same day as Wennes' appointment—suggests planned succession rather than crisis management. For retail investors, the key question is whether Wennes' traditional banking background signals a strategic shift toward more conservative growth or simply adds expertise to navigate an evolving regulatory environment. Watch for any changes in Upstart's funding partnerships or lending policies in upcoming quarters.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 19, 2026, Upstart Holdings, Inc. (“Upstart” or the “Company”) announced that its Board of Directors (the “Board”) elected Tim Wennes to serve as a Class I director on the Board, effective as of May 28, 2026.
Upstart appointed Tim Wennes, former President and CEO of Santander Holdings USA (2019-2025), as a Class I director effective May 28, 2026. Mr. Wennes brings over 35 years of financial services experience including executive roles at MUFG Union Bank and Countrywide Bank. He will receive standard non-employee director compensation under the company's Outside Director Compensation Policy.
Event · Item 9.01 — Financial Statements and Exhibits
Upstart Holdings filed an 8-K attaching a press release dated May 19, 2026; no material event details disclosed in the filing body.
Added in current filing · verify on EDGAR →
Press Release issued by Upstart Holdings, Inc. dated May 19, 2026
The 8-K references a press release dated May 19, 2026, but does not disclose the content or subject matter of the release within the filing body. The nature and materiality of the event cannot be determined from this filing alone.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify