Form 4: Rackspace CFO Mark Marino Reports Sale of Shares to Cover Tax Obligations

Rackspace Technology CFO Mark Marino sold shares of common stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On March 17, 2025, Rackspace Technology CFO Mark Marino sold 20,217 shares of common stock at a weighted average price of $1.87.
• The sales were executed in multiple trades between March 17, 2025, and March 19, 2025, at prices ranging from $1.75 to $2.13.
• These transactions were made under a pre-arranged Rule 10b5-1 trading plan adopted on September 12, 2023.
• The purpose of the sale was to cover tax withholding obligations associated with the vesting of restricted stock units.
• Following the reported transaction, Marino beneficially owns 1,917,446 shares of Rackspace Technology common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing relates to a routine transaction for tax purposes and doesn't suggest any fundamental change in the company's prospects or management's confidence.

Industry Context

Sales by insiders to cover tax obligations are a common practice and generally don't indicate a change in the executive's long-term outlook for the company.

Key Dates

Keywords

Rackspace Technology, Mark Marino, RXT, Form 4, insider trading, Rule 10b5-1, stock sale, CFO, tax obligations, restricted stock units