Form 4: Insight Partners' Jeffrey 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 30 and 31, 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.
• On July 30, 2024, 6,992 shares were sold at a weighted average price of $33.325 per share, with prices ranging from $33.320 to $33.450.
• On July 31, 2024, 45,638 shares were sold at a weighted average price of $33.1058 per share, with prices ranging from $33.015 to $33.210.
• The sales were executed under a Rule 10b5-1 trading plan adopted on April 10, 2024.
• Following these transactions, Horing's indirectly held beneficial ownership amounts to 17,449,944 shares.
• Horing also directly owns 117,603 shares of common stock, including 5,874 restricted stock units (RSUs) that vest in full on the earlier of June 20, 2025 and the date of the next annual meeting of the issuers stockholders, subject to the reporting person's continued service through the applicable vesting date.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock sales by a major shareholder under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Sales by major shareholders and directors are common and can be for a variety of reasons, including portfolio diversification or personal financial planning. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on insider information at the time of the transactions.

Comparison to Industry Standards

• Sales by insiders are a normal part of the market, and the use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.
• Comparable companies such as Blend Labs or Upstart Holdings also see insider trading activity, which is publicly disclosed through SEC filings.
• The volume of shares sold is relatively small compared to the total outstanding shares, suggesting it is unlikely to have a significant impact on the stock price.

Key Dates