Form 4: Rackspace Technology Executive Sells Shares to Cover Tax Obligations

Kellie Teal-Guess, Chief Human Resources Officer of Rackspace Technology, sold 5,412 shares of common stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On March 3, 2025, Kellie Teal-Guess, the Chief Human Resources Officer of Rackspace Technology, sold 5,412 shares of the company's common stock.
• The sale was executed at a weighted average price of $2.37 per share, with individual trades ranging from $2.31 to $2.41.
• This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on September 12, 2023, to cover tax obligations associated with vesting restricted stock units.
• Following the transaction, Teal-Guess directly owns 883,816 shares of Rackspace Technology.
• The sale was solely for the purpose of satisfying tax withholding obligations.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (stock sale for tax obligations) and doesn't indicate any significant positive or negative sentiment.

Industry Context

This is a routine transaction for corporate executives to cover tax obligations related to stock-based compensation. It is common practice to use Rule 10b5-1 trading plans to avoid accusations of insider trading.

Stakeholder Impact

• The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates