Form 4: nCino VP of Accounting, Jeanette Sellers, Sells Shares to Cover Tax Obligations and Under 10b5-1 Plan

Jeanette Sellers, VP of Accounting at nCino, Inc., sold shares of common stock to cover tax withholding and under a pre-arranged 10b5-1 trading plan.

Summary

• Jeanette Sellers, the VP of Accounting at nCino, Inc., reported the sale of company common stock.
• On June 11, 2024, she sold 1,143 shares at a price of $30.146 per share to cover tax withholding obligations related to vesting RSUs.
• On June 12, 2024, she sold 2,792 shares at a price of $30.94 per share under a pre-arranged Rule 10b5-1 trading plan adopted on October 6, 2023.
• Following these transactions, Sellers directly owns 23,425 shares of nCino common stock.

Sentiment

Score: 5

Explanation: The document reflects routine transactions (sales to cover taxes and pre-planned sales under 10b5-1), so it's neutral.

Industry Context

Sales by company insiders are common and can be for a variety of reasons, including diversification, tax obligations, or planned liquidity. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices, avoiding accusations of trading on inside information.

Comparison to Industry Standards

• It's common for executives at publicly traded companies like nCino to utilize Rule 10b5-1 trading plans to manage their stock sales.
• Companies such as Salesforce and Veeva Systems, which operate in similar sectors, also see insider transactions as part of their executive compensation and financial planning.
• The reported transactions are typical in volume and nature compared to similar filings from executives in comparable companies.

Stakeholder Impact

• The stock sales by an executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
• The impact on employees and other stakeholders is likely minimal, as these are standard executive transactions.

Key Dates