4/A: Rubrik CFO Amends Disclosure on Stock Option Exercise and Class B to Class A Conversion

Rubrik Inc.'s Chief Financial Officer, Kiran Kumar Choudary, filed an amended Form 4 disclosing the exercise of stock options and the subsequent conversion of Class B to Class A common stock, executed under a pre-arranged 10b5-1 trading plan.

Summary

• Kiran Kumar Choudary, Rubrik Inc.'s Chief Financial Officer, filed an amended Form 4 (4/A) with the SEC.
• The filing details the exercise of 2,000 stock options at an exercise price of $7.99 per share on May 14, 2025.
• Concurrently, 2,000 shares of Class B Common Stock were converted into 2,000 shares of Class A Common Stock.
• These transactions were conducted under a Rule 10b5-1 trading plan, which was adopted on January 15, 2025.
• Following these reported transactions, the CFO directly beneficially owns 567,165 shares of Class A Common Stock.
• The stock option had a vesting schedule where 1/4 of the shares vested on August 20, 2019, and 1/48 of the shares vested monthly thereafter, with an expiration date of September 17, 2028.
• Each share of Class B Common Stock is convertible into one share of Class A Common Stock upon sale or transfer (subject to certain exceptions) or at the option of the Reporting Person.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of an insider transaction (option exercise and conversion) executed under a pre-arranged 10b5-1 plan. While the exercise itself can be seen as a positive signal of insider confidence, the filing primarily serves as a factual update without significant new operational or financial information that would drastically alter sentiment. The conversion from Class B to Class A is a standard process for dual-class share structures.

Positives

• The transaction was executed under a Rule 10b5-1 trading plan, indicating a pre-planned, non-discretionary transaction, which can reduce concerns about opportunistic insider trading.
• The exercise of options by a Chief Financial Officer can signal confidence in the company's long-term prospects, especially when it involves conversion to Class A shares rather than an immediate sale.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of an insider transaction and does not provide broader industry context or trends.

Related Party Transactions

• The filing details transactions by Kiran Kumar Choudary, the Chief Financial Officer of Rubrik Inc., which are considered related party transactions as they involve a key executive of the company.

Stakeholder Impact

• Shareholders: Provides transparency regarding insider stock activity, specifically the exercise of options and conversion of shares by a key executive. This can offer insights into management's holdings and potential future liquidity events.

Key Dates

Keywords

Rubrik Inc., RBRK, SEC Form 4/A, Insider Trading, Stock Option Exercise, Class A Common Stock, Class B Common Stock, Rule 10b5-1 Plan, Kiran Kumar Choudary, Chief Financial Officer, Beneficial Ownership