Form 4: nCino CEO Pierre Naude Sells Shares to Cover Tax Obligations

nCino CEO Pierre Naude sold 10,924 shares of common stock on April 8, 2024, to cover tax withholding obligations related to vesting RSUs.

Summary

• On April 8, 2024, Pierre Naude, CEO of nCino, Inc., sold 10,924 shares of nCino common stock.
• The sale was executed at a price of $34.413 per share.
• The transaction was conducted to cover tax withholding obligations arising from the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Pierre Naude directly owns 1,159,395 shares of nCino common stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover taxes) and doesn't contain information that would significantly impact investor sentiment positively or negatively.

Management Comments

• The 'sales to cover' are mandated by the Issuer's equity incentive plans to satisfy tax withholding obligations and do not represent a discretionary trade by the reporting person.

Industry Context

Sales of shares to cover tax obligations upon vesting of RSUs are a common practice among executives of publicly traded companies.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder perception, but is unlikely to be significant given the stated reason for the sale.

Key Dates