Form 4: Insight Partners' Horing Sells nCino Shares Under 10b5-1 Plan

Jeffrey Horing, a director and 10% owner of nCino, Inc., sold shares of common stock on July 17 and 18, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Jeffrey Horing, a director and 10% owner of nCino, Inc., reported the sale of nCino common stock.
• The sales occurred on July 17 and 18, 2024.
• On July 17, 2024, 126,641 shares were sold at a weighted average price of $31.013, with prices ranging from $33.000 to $33.060.
• On July 18, 2024, 234,584 shares were sold at a weighted average price of $33.3155, with prices ranging from $33.100 to $33.450.
• The transactions were executed under a Rule 10b5-1 plan adopted on April 10, 2024.
• Following the reported transactions, Horing indirectly beneficially owns 19,152,242 shares through various Insight Partners entities and directly owns 117,603 shares.
• Horing also indirectly owns 137,527 shares through JPH DE Trust Holdings LLC and JPH Private Investments LLC.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock sales. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider transactions.

Industry Context

This filing is a routine disclosure of stock sales by a major shareholder and director. It is common for insiders to use Rule 10b5-1 plans to sell shares over time to avoid accusations of insider trading.

Comparison to Industry Standards

• Comparing Horing's transactions to other directors or major shareholders in similar SaaS companies would require analyzing their Form 4 filings.
• The use of a 10b5-1 trading plan is a common practice among corporate insiders to manage their stock sales in compliance with insider trading regulations, similar to practices seen at companies like Salesforce (CRM) or Workday (WDAY).

Stakeholder Impact

• The stock sales could potentially exert downward pressure on the stock price in the short term, but the existence of a pre-arranged trading plan mitigates concerns about insider information being used.
• The sales do not appear to have any immediate impact on employees, customers, suppliers, or creditors.

Key Dates