Form 4: Nutanix CEO Rajiv Ramaswami Reports Stock Transactions
SEC Form 4
Rajiv Ramaswami, CEO of Nutanix, reports the vesting and subsequent tax withholding of shares related to restricted stock units (RSUs).
Summary
- Rajiv Ramaswami, the President and CEO of Nutanix, Inc., filed a Form 4 on September 17, 2024, reporting transactions related to Class A Common Stock and Restricted Stock Units (RSUs).
- On September 15, 2024, Ramaswami vested various tranches of RSUs, resulting in the acquisition of Class A Common Stock.
- A portion of the acquired shares (269,595) was withheld by Nutanix to satisfy tax obligations at a price of $59.06 per share.
- Following these transactions, Ramaswami directly owns 639,014 shares of Class A Common Stock and varying amounts of RSUs that will vest in the future.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It simply reflects the execution of existing compensation plans.
Future Outlook
The document indicates future vesting dates for RSUs, suggesting continued equity-based compensation for the reporting person.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and provide transparency to investors regarding the trading activities of company executives and directors.
Comparison to Industry Standards
- Equity compensation is a common practice in the tech industry, with companies like Salesforce, Workday, and ServiceNow using RSUs to incentivize and retain key employees.
- The vesting schedules described in the document (quarterly installments after an initial cliff) are typical for RSU grants in the technology sector.
- Tax withholding upon vesting is a standard procedure, and the number of shares withheld is determined by applicable tax rates and the fair market value of the stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders, as they involve the vesting of previously granted equity and the withholding of shares for tax purposes.
- The transactions impact the CEO's ownership stake in the company.
Key Dates
| Date | Description |
|---|---|
| December 9, 2020 | Reporting Person was granted a target number of 703,117 performance-based RSUs ('PRSUs') subject to two stock price milestones. |
| December 15, 2021 | Initial vesting date for some RSUs and PRSUs. |
| December 15, 2022 | Initial vesting date for some RSUs. |
| December 15, 2023 | Initial vesting date for some RSUs. |
| September 15, 2024 | Transaction date for RSU vesting and tax withholding. |
| December 15, 2024 | Future vesting date for some RSUs. |
| September 17, 2024 | Date of Form 4 filing. |
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