Form 4: RingCentral President and COO Kira Makagon Reports Stock Transactions

Kira Makagon, President and COO of RingCentral, reports acquisition of shares through performance-based restricted stock units and disposition of shares for tax obligations.

Summary

• On February 20, 2025, Kira Makagon, President and COO of RingCentral, acquired 127,648 shares of Class A Common Stock at $0 per share due to the vesting of performance-based restricted stock units (PSUs).
• These PSUs were granted on May 19, 2024, and vested based on the achievement of certain performance goals certified by RingCentral's Compensation Committee.
• 1/3 of the PSUs vested on February 20, 2025, and the remaining PSUs will vest in equal quarterly increments thereafter.
• On February 21, 2025, Makagon disposed of 24,924 shares of Class A Common Stock at $28.95 per share to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs).
• Following these transactions, Makagon beneficially owns 240,473 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document primarily reports stock transactions, which are a normal part of executive compensation. The vesting of PSUs suggests performance targets were met, which is mildly positive.

Positives

• The vesting of performance-based restricted stock units indicates that performance goals were met, which could be seen as a positive sign for the company's performance.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, as required by the SEC. It provides transparency into the executive's holdings and transactions in the company's stock.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax-related sales.

Key Dates

Keywords

RingCentral, Kira Makagon, Form 4, Stock Transaction, Beneficial Ownership, PSU, RSU, Vesting, President, COO