Form 4: nCino CFO Gregory Orenstein Sells Shares to Cover Tax Obligations

Gregory Orenstein, CFO & Treasurer of nCino, Inc., sold shares of common stock on May 2nd and 3rd, 2024, to cover tax withholding obligations related to vesting RSUs.

Summary

• Gregory Orenstein, the CFO & Treasurer of nCino, Inc., reported changes in beneficial ownership of the company's stock.
• On May 2, 2024, Orenstein sold 5,110 shares of common stock at a price of $30.632 per share.
• Following this transaction, Orenstein directly owned 290,136 shares of nCino common stock.
• On May 3, 2024, Orenstein sold 5,301 shares of common stock at a price of $30.202 per share.
• Following this transaction, Orenstein directly owned 284,835 shares of nCino common stock.
• The sales were executed to cover tax withholding obligations due upon the vesting of Restricted Stock Units (RSUs).

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock sales to cover tax obligations, a routine event. There's no indication of positive or negative implications for the company's performance.

Management Comments

• The sales were 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 in publicly traded companies. This ensures compliance with tax laws and allows executives to manage their equity compensation effectively.

Stakeholder Impact

• The stock sales may have a minor, temporary impact on shareholders due to the increased supply of shares in the market.

Key Dates