4/A: Rackspace CFO Mark Marino Sells Shares to Cover Tax Obligations

Mark Marino, CFO of Rackspace Technology, sold shares of common stock on March 5, 2025, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On March 5, 2025, Mark A. Marino, the Chief Financial Officer of Rackspace Technology, Inc., sold 57,370 shares of common stock.
• The sale was executed at a weighted average price of $2.34 per share, with individual trades ranging from $2.33 to $2.38.
• This transaction was made to cover tax withholding obligations associated with the vesting of restricted stock units.
• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on September 12, 2023.
• Following the transaction, Marino directly owns 1,937,663 shares of Rackspace Technology, Inc.
• This Form 4/A amends the original Form 4 filed on March 4, 2025 to reflect the sale of additional shares of common stock necessary to correct an administrative error in the calculation of the number of shares necessary to cover the tax withholding obligations of the reporting person.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an insider stock sale for tax purposes. It doesn't convey any particularly positive or negative sentiment about the company's prospects.

Future Outlook

The document does not contain any specific forward-looking statements about the company's future performance.

Industry Context

Sales of shares by company insiders are a common occurrence, often related to compensation and tax planning. The use of a pre-arranged Rule 10b5-1 trading plan is a standard practice to avoid accusations of insider trading.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, but the impact is likely minimal given the reason for the sale and the relatively small number of shares involved.

Key Dates