Form 4: RingCentral COO Sells Shares Under 10b5-1 Plan

RingCentral's President and COO, Kira Makagon, sold 14,798 shares of Class A Common Stock for a weighted average price of $28.106 per share, executed under a pre-arranged 10b5-1 trading plan.

Summary

• Kira Makagon, President and COO of RingCentral, Inc. (RNG), reported the sale of 14,798 shares of Class A Common Stock.
• The transaction occurred on November 26, 2025, at a weighted average price of $28.106 per share.
• The total value of the shares sold is approximately $416,700.01.
• The sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Ms. Makagon on March 14, 2025.
• Following this transaction, Ms. Makagon beneficially owns 349,358 shares of Class A Common Stock.
• The shares were sold in multiple transactions within a price range of $27.92 to $28.231 per share.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While an insider sale can sometimes be viewed negatively, the execution under a pre-arranged 10b5-1 plan mitigates concerns about opportunistic timing, indicating a planned liquidity event rather than a reaction to new negative information.

Negatives

• An insider sale, even under a 10b5-1 plan, can sometimes be perceived by investors as a lack of confidence in the company's near-term stock price performance, although this is mitigated by the pre-planned nature.

Risks

• The sale of shares by a high-ranking executive could potentially lead to negative market sentiment if not properly understood as a pre-scheduled liquidity event, which might put downward pressure on the stock price.

Future Outlook

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

Management Comments

• The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range of $27.92 to $28.231.

Industry Context

This is an individual insider transaction and does not directly relate to broader industry trends or competitor activities, other than reflecting a liquidity event for an executive within the cloud communications sector.

Related Party Transactions

• The sale of Class A Common Stock by Kira Makagon, President and COO, is considered a related party transaction due to her executive position within RingCentral, Inc.

Stakeholder Impact

• Shareholders: May interpret the sale as a routine liquidity event given the 10b5-1 plan, or potentially as a signal, though the latter is less likely due to the pre-planned nature.
• Employees: No direct impact from this transaction.

Next Steps

• The Reporting Person is prepared to provide detailed information on the specific prices of shares sold within the reported range upon request from the issuer, security holders, or the SEC staff.

Key Dates

Recommendation

This Form 4 reports a pre-scheduled insider sale under a 10b5-1 plan, which is typically a planned liquidity event for an executive and not necessarily indicative of a change in the company's fundamental outlook. While insider sales can sometimes be a negative signal, the pre-arranged nature reduces its significance as a real-time market indicator. Therefore, this single transaction alone does not warrant a change in investment recommendation, suggesting a 'hold' position for existing investors to await further company-specific or market-wide developments.

Keywords

RingCentral, RNG, Kira Makagon, Insider Sale, Form 4, 10b5-1 Plan, Stock Transaction, Executive Compensation