Form 4: Rackspace EVP Sells Shares for Tax Obligations

Rackspace Technology's EVP, President of Public Cloud, Dharmendra Kumar Sinha, sold 91,151 shares of common stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• Dharmendra Kumar Sinha, EVP and President of Public Cloud at Rackspace Technology, Inc. (RXT), reported a transaction involving the company's common stock.
• On November 28, 2025, Mr. Sinha disposed of 91,151 shares of common stock at a weighted average sale price of $1.04 per share.
• This transaction was a 'sell to cover' sale, executed solely to satisfy tax withholding obligations incurred from the vesting of previously granted restricted stock units.
• The sale was conducted pursuant to a Rule 10b5-1 trading plan, which was adopted by Mr. Sinha on September 14, 2023.
• Following this transaction, Mr. Sinha beneficially owns 2,568,895 shares of Rackspace Technology common stock directly.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, non-discretionary transaction for tax purposes, not indicative of management's view on the company's prospects or a significant change in their holdings beyond tax requirements.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This is a routine insider transaction for tax purposes, common across all industries for executives receiving equity compensation. It does not reflect broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary sale for tax purposes and does not signal a change in the executive's long-term commitment or view of the company.
• Employees: No direct impact.

Key Dates

Recommendation

This Form 4 filing details a routine 'sell to cover' transaction by an executive to satisfy tax withholding obligations upon RSU vesting, executed under a pre-established 10b5-1 plan. Such a transaction is non-discretionary and does not reflect a change in the executive's investment sentiment or the company's fundamentals. Therefore, it provides no new information that would warrant a change in an investor's current 'hold' recommendation for Rackspace Technology shares.

Keywords

Rackspace Technology, RXT, Form 4, Insider Transaction, Stock Sale, Executive Compensation, Restricted Stock Units, Tax Withholding, 10b5-1 Plan