diff --git a/package.json b/package.json
index 900e9906d..a4b1cfbce 100644
--- a/package.json
+++ b/package.json
@@ -38,7 +38,7 @@
     "@ethersproject/abstract-signer": "5.7.0",
     "@ethersproject/bignumber": "5.7.0",
     "@openzeppelin/contracts": "4.9.2",
-    "@openzeppelin/contracts-upgradeable": "4.9.2",
+    "@openzeppelin/contracts-upgradeable": "4.9.3",
     "@uma/common": "^2.34.0",
     "@uma/contracts-node": "^0.4.17",
     "@uma/core": "^2.56.0",
diff --git a/yarn.lock b/yarn.lock
index e61b10796..3fda8955b 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -2020,10 +2020,10 @@
   resolved "https://registry.yarnpkg.com/@openzeppelin/contracts-upgradeable/-/contracts-upgradeable-3.4.2.tgz#2c2a1b0fa748235a1f495b6489349776365c51b3"
   integrity sha512-mDlBS17ymb2wpaLcrqRYdnBAmP1EwqhOXMvqWk2c5Q1N1pm5TkiCtXM9Xzznh4bYsQBq0aIWEkFFE2+iLSN1Tw==
 
-"@openzeppelin/contracts-upgradeable@4.9.2", "@openzeppelin/contracts-upgradeable@^4.8.1":
-  version "4.9.2"
-  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts-upgradeable/-/contracts-upgradeable-4.9.2.tgz#a817c75688f8daede420052fbcb34e52482e769e"
-  integrity sha512-siviV3PZV/fHfPaoIC51rf1Jb6iElkYWnNYZ0leO23/ukXuvOyoC/ahy8jqiV7g+++9Nuo3n/rk5ajSN/+d/Sg==
+"@openzeppelin/contracts-upgradeable@4.9.3", "@openzeppelin/contracts-upgradeable@^4.8.1":
+  version "4.9.3"
+  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts-upgradeable/-/contracts-upgradeable-4.9.3.tgz#ff17a80fb945f5102571f8efecb5ce5915cc4811"
+  integrity sha512-jjaHAVRMrE4UuZNfDwjlLGDxTHWIOwTJS2ldnc278a0gevfXfPr8hxKEVBGFBE96kl2G3VHDZhUimw/+G3TG2A==
 
 "@openzeppelin/contracts@3.4.1-solc-0.7-2":
   version "3.4.1-solc-0.7-2"