Form 4: nCino Director Sells Shares for Tax Withholding

nCino Director Pierre Naude sold 4,659 shares of common stock at $27.445 per share to cover tax withholding obligations related to RSU vesting.

Summary

• Pierre Naude, a Director of nCino, Inc. (NCNO), sold 4,659 shares of common stock.
• The transaction occurred on August 4, 2025, at a price of $27.445 per share.
• The sale was explicitly stated as non-discretionary, executed to cover tax withholding obligations arising from the vesting of Restricted Stock Units (RSUs).
• Following this transaction, Naude beneficially owns 1,192,461 shares of nCino common stock.

Sentiment

Score: 5

Explanation: The transaction is a non-discretionary sale to cover tax obligations upon RSU vesting, which is a routine event and does not indicate a change in sentiment towards the company by the insider.

Management Comments

• The sale of shares was to cover tax withholding due upon vesting of Restricted Stock Units (RSUs).
• Such '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.

Stakeholder Impact

• Minimal direct impact on shareholders as it's a routine, non-discretionary tax-related sale by a director, not indicative of a change in investment thesis.
• No direct impact on employees, customers, suppliers, or creditors.

Key Dates

Recommendation

The reported transaction is a routine, non-discretionary sale of shares by a director solely to cover tax withholding obligations upon the vesting of Restricted Stock Units. This type of transaction does not reflect a change in the insider's investment sentiment or outlook for the company and therefore does not provide a basis for altering an investment recommendation.

Keywords

nCino, NCNO, Pierre Naude, Insider Trading, Form 4, Stock Sale, Director, Tax Withholding, RSU Vesting