Form 4: Rubrik's Chief Revenue Officer, Brian K. McCarthy, Reports Stock Sales and RSU Conversions
SEC Form 4
Brian K. McCarthy, Chief Revenue Officer of Rubrik, Inc., reports the sale of Class A Common Stock and conversion of Restricted Stock Units (RSUs) into Class A Common Stock on September 26, 2024.
Summary
- On September 26, 2024, Brian K. McCarthy, the Chief Revenue Officer of Rubrik, Inc., reported transactions involving the company's stock.
- McCarthy sold 54,672 shares of Class A Common Stock at an average price of $31.4095 per share.
- He also sold 28,473 shares at a weighted average price of $30.94, with individual prices ranging from $30.36 to $31.35.
- An additional 21,527 shares were sold at a weighted average price of $31.59, with prices ranging from $31.36 to $31.84.
- McCarthy also reported the conversion of 125,000 Restricted Stock Units (RSUs) into Class A Common Stock.
- These transactions were executed pursuant to a Rule 10b5-1 trading plan and to cover tax obligations related to RSU vesting.
- Following these transactions, McCarthy directly owns 462,545 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions. It provides transparency into the trading activities of company executives, which is important for investors to monitor.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
- Comparable companies like CrowdStrike, Snowflake, and Zscaler also have executives who regularly file Form 4s to report stock transactions.
- The reported transactions are typical for executives holding RSUs, as they often sell shares to cover tax obligations upon vesting.
Stakeholder Impact
- The stock sales by a key executive could be perceived negatively by some shareholders, potentially leading to slight downward pressure on the stock price.
- However, the disclosure of the Rule 10b5-1 trading plan provides some reassurance that the sales were pre-planned and not based on inside information.
Key Dates
| Date | Description |
|---|---|
| 03/15/2022 | 1/4 of the shares subject to an RSU vested. |
| 06/15/2022 | 1/16 of the shares subject to an RSU vested. |
| 06/27/2024 | Date of adoption of Rule 10b5-1 trading plan. |
| 09/20/2024 | Acquisition of 337 shares of Class A Common Stock under the Employee Stock Purchase Plan. |
| 09/26/2024 | Date of reported transactions: stock sales and RSU conversions. |
| 09/30/2024 | Date of signature on the Form 4 filing. |
| 03/30/2028 | Expiration date of some Restricted Stock Units. |
| 04/13/2029 | Expiration date of some Restricted Stock Units. |
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