It is bolt-upright in the style of a commuter bike, the better for swinging your head for a look behind you. And your helmet is up high for best visibility by others.

I think of the Pedersen's riding position as semi-recumbent, at least in the context of "relative to racing bikes".

I squinted and looked at the photo below, mentally erasing the bike and focusing on the riding position. I see a normal road-bike posture, other than my hands being too far rearward.
Then I allow the bike to come into the picture, and realize that I am completely off of the saddle, so not really like a road bike at all!