Form 4: Rubrik CEO Bipul Sinha Executes Block Sale and Gifts Shares

Rubrik's CEO, Bipul Sinha, sold 1,158,082 shares of Class A common stock at $70.25 per share and gifted 342,000 shares on December 13, 2024.

Summary

• On December 13, 2024, Rubrik CEO Bipul Sinha executed a block sale of 1,158,082 shares of Class A common stock at a price of $70.25 per share.
• The sale was triggered by the vesting and settlement of performance-based restricted stock units (PSUs) initially granted in May 2018.
• A majority of the proceeds from the sale were used to cover tax withholding obligations related to the PSU settlement.
• Additionally, Mr. Sinha gifted 342,000 shares of Class A common stock, which were converted from Class B common stock.
• Prior to the sale and gifts, Mr. Sinha converted 1,500,082 shares of Class B common stock into Class A common stock.
• Following these transactions, Mr. Sinha directly owns 31,312 shares of Class A common stock.

Sentiment

Score: 5

Explanation: The document is a neutral report of insider transactions, with no indication of positive or negative sentiment. It is a routine filing.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives of publicly traded companies. The sale of shares by the CEO is not unusual, especially after vesting of stock options or restricted stock units.

Comparison to Industry Standards

• Executive stock sales are a common occurrence in publicly traded companies, particularly after vesting periods.
• The sale of shares by a CEO is not unusual and is often part of personal financial planning.
• The size of the sale, 1,158,082 shares, is significant but not uncommon for a CEO of a company of Rubrik's size.
• The use of proceeds to cover tax obligations is a standard practice.

Stakeholder Impact

• The sale of shares by the CEO may have a minor impact on the stock price, but it is not expected to be significant.
• The transaction is primarily a personal financial matter for the CEO and does not directly impact the company's operations or financial health.

Key Dates

Keywords

Rubrik, Bipul Sinha, Class A Common Stock, Class B Common Stock, Block Sale, Share Sale, Restricted Stock Units, PSU, Share Gift, SEC Form 4