Form 4: nCino Director Jeff Horing Sells Shares in Multiple Transactions

Director Jeff Horing sold 4,474,158 shares of nCino stock at a weighted average price of $35.751, while also holding significant indirect ownership through various investment entities.

Summary

• Jeff Horing, a director at nCino, Inc., sold 4,474,158 shares of common stock on December 18, 2024, at a weighted average price of $35.751.
• The shares were sold in multiple transactions with prices ranging from $35.750 to $36.260.
• Following the transaction, Horing directly owns 117,603 shares and indirectly owns 4,513,467 shares through various investment entities.
• Horing also indirectly holds 137,527 shares through JPH DE Trust Holdings LLC and JPH Private Investments LLC.
• The indirect holdings are primarily through Insight Venture Partners funds and related entities.
• Horing also holds 5,874 restricted stock units (RSUs) that vest on the earlier of June 20, 2025, or the next annual meeting, subject to continued service.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing an insider stock sale. While the sale is significant in volume, it doesn't inherently indicate positive or negative sentiment about the company's performance. It's a neutral event from an investment perspective.

Negatives

• The sale of a large number of shares by a director could be perceived negatively by the market.

Risks

• Large sales by insiders can sometimes signal a lack of confidence in the company's future prospects.
• The market may react negatively to the sale, potentially impacting the stock price.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common for publicly traded companies. The sale by a director is a normal part of the market and does not necessarily indicate a change in the company's performance or outlook.

Comparison to Industry Standards

• Insider sales are a common occurrence in publicly traded companies, and the volume of shares sold by Jeff Horing is not unusual for a director with significant holdings.
• Other directors and executives at similar companies often engage in similar transactions, and the reporting requirements are standardized across the industry.
• The weighted average price of $35.751 is within the range of recent trading activity for nCino stock, suggesting the sale was executed at market prices.

Stakeholder Impact

• The sale of a large number of shares by a director could potentially cause a short-term negative reaction from shareholders.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

nCino, Jeff Horing, stock sale, insider trading, SEC Form 4, Insight Partners, share ownership, restricted stock units