Form 4: SentinelOne Chief Legal Officer Sells Shares to Cover Tax Obligations

Keenan Michael Conder, Chief Legal Officer & Secretary of SentinelOne, Inc., sold 1,011 shares of Class A Common Stock on February 6, 2025, to cover tax withholding obligations.

Summary

• On February 6, 2025, Keenan Michael Conder, the Chief Legal Officer & Secretary of SentinelOne, Inc., sold 1,011 shares of Class A Common Stock.
• The sale was mandated by the issuer to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units.
• The shares were sold at a weighted average price of $23.9499, with individual transactions ranging from $23.91 to $23.95.
• Following the transaction, Conder beneficially owns 426,166 shares of Class A Common Stock, some of which are subject to forfeiture if vesting conditions are not met.
• This includes 1,227 shares acquired through the Employee Stock Purchase Plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral. The transaction is a routine sale to cover tax obligations, which is a common practice. There is no indication of any negative sentiment towards the company.

Positives

• The sale is part of a standard 'sell to cover' transaction mandated by SentinelOne's equity incentive plan, indicating a structured approach to managing employee equity and tax obligations.
• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the range set forth herein.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among company executives. This transaction appears to be a routine event and doesn't necessarily indicate a change in the executive's confidence in the company.

Comparison to Industry Standards

• Similar 'sell to cover' transactions are common among executives at publicly traded companies like CrowdStrike, Palo Alto Networks, and Okta.
• These companies also have equity incentive plans that often include provisions for covering tax obligations through share sales.

Stakeholder Impact

• The sale of shares by a company executive could have a minor impact on shareholder sentiment, but given the reason for the sale (tax obligations) and the relatively small number of shares involved, the impact is likely to be minimal.

Key Dates

Keywords

SentinelOne, Conder, Keenan Michael, Form 4, Share Sale, Tax Withholding, Restricted Stock Units, Equity Incentive Plan, Employee Stock Purchase Plan