Form 4: nCino VP of Accounting, Jeanette Sellers, Sells Shares to Cover Tax Obligations

Jeanette Sellers, VP of Accounting at nCino, Inc., sold 468 shares of common stock on February 4, 2025, to cover tax withholding obligations related to vesting RSUs.

Summary

• On February 4, 2025, Jeanette Sellers, the VP of Accounting at nCino, Inc. (NCNO), sold 468 shares of the company's common stock.
• The sale was executed at a price of $32.603 per share.
• The transaction was conducted to cover tax withholding obligations arising from the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Sellers directly owns 22,602 shares of nCino common stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover taxes). It doesn't indicate positive or negative sentiment, but rather a standard procedure.

Industry Context

Sales to cover' transactions are common among employees who receive equity compensation, particularly RSUs. When RSUs vest, they are treated as income and are subject to income and employment taxes. To cover these taxes, companies often allow or require employees to sell a portion of the newly vested shares.

Stakeholder Impact

• The sale has a minimal impact on shareholders as it is a small transaction related to tax obligations.

Key Dates