Upwork Inc. filed a Form 8-K on November 2, 2026, disclosing the resignation of Chief Financial Officer Erica Gessert effective January 1, 2027, and the appointment of Peter Sanborn as her successor, alongside the company's financial results for the quarter ended September 30, 2026.

Key Highlights

  • CFO resignation: Erica Gessert notified the company on October 27, 2026, of her intention to resign as Chief Financial Officer and principal financial officer, effective January 1, 2027.
  • Advisory role: Following her resignation, Ms. Gessert will serve in an advisory role through March 31, 2027 to support the transition of her responsibilities.
  • No disagreement: According to the filing, Ms. Gessert's decision to resign "was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices."
  • Successor named: The board of directors appointed Peter Sanborn, age 43 and currently the company's Chief Business Officer, to serve as CFO and principal financial officer effective January 1, 2027.
  • Role change for Sanborn: Mr. Sanborn will cease to serve as Chief Business Officer as of the same date he assumes the CFO role.
  • Compensation terms pending: The filing stated that as of the filing date, "the material terms of Mr. Sanborn's compensation in connection with his appointment as CFO and Ms. Gessert's advisory role have not yet been determined," with an amendment to follow once terms are approved.
  • Q3 2026 results: The company also announced financial results for the quarter ended September 30, 2026, with a conference call held on November 2, 2026, and full details attached as Exhibit 99.1.

Upwork Discloses CFO Transition and Q3 2026 Financial Results

Upwork Inc. (NASDAQ:UPWK) disclosed two significant developments in its Form 8-K filed November 2, 2026. The first concerns a leadership change at the chief financial officer level. According to the filing, Erica Gessert notified the company on October 27, 2026, of her plan to step down as CFO and principal financial officer effective January 1, 2027. After that date, the filing stated, she will remain available in an advisory capacity through March 31, 2027 to assist with the handover of her duties.

The board of directors responded by appointing Peter Sanborn, currently serving as the company's Chief Business Officer, to fill the CFO role beginning January 1, 2027. The filing identifies Mr. Sanborn as 43 years old and notes that biographical information for him can be found in the company's definitive proxy statement on Schedule 14A filed with the SEC on April 23, 2026. The filing further stated that there is no arrangement or understanding between Mr. Sanborn and any other persons pursuant to which he was selected, and that there are no family relationships between Mr. Sanborn and any director or executive officer of the company.

On the financial results front, the company disclosed that a press release covering results for the quarter ended September 30, 2026, was issued and a conference call was held on November 2, 2026. The press release, attached as Exhibit 99.1, includes a reconciliation of GAAP to non-GAAP financial measures, which the filing noted the company uses in both the press release and the conference call. The filing also identified the company's investor relations website, blog, and several social media accounts as channels used to disseminate financial and business information.

What Was Disclosed

The filing reported CFO Erica Gessert's resignation effective January 1, 2027, the appointment of Peter Sanborn as her successor, and Upwork's financial results for the quarter ended September 30, 2026. Compensation terms for the transition have not yet been finalized.