Form 4: Sprinklr CEO Rory Read Receives 2,137,500 Restricted Stock Units

Sprinklr's CEO, Rory Read, was granted 2,137,500 restricted stock units (RSUs) on November 5, 2024, as part of his compensation.

Summary

• Rory Read, the President and CEO of Sprinklr, Inc., received 2,137,500 shares of Class A Common Stock in the form of restricted stock units (RSUs) on November 5, 2024.
• The RSUs are divided into two grants: a 'First Grant' of 1,425,000 RSUs and a 'Second Grant' of 712,500 RSUs.
• The First Grant vests one-third on November 5, 2025, and the remaining RSUs vest in installments every quarter thereafter (December 15, March 15, June 15, and September 15).
• The Second Grant vests one-fourth on November 5, 2025, and the remaining RSUs vest in installments every quarter thereafter (December 15, March 15, June 15, and September 15).
• Vesting of both grants is contingent upon Rory Read's continuous service with Sprinklr through each vesting date.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of executive compensation. It's generally neutral, but the granting of RSUs can be seen as a positive sign of confidence in the CEO and the company's future.

Positives

• The RSU grants align the CEO's interests with the long-term success of the company, as vesting is tied to continued service.
• The staggered vesting schedule encourages long-term commitment from the CEO.

Risks

• If Rory Read leaves Sprinklr before the RSUs fully vest, a portion of the equity compensation will be forfeited.

Future Outlook

The document does not contain any specific forward-looking statements beyond the vesting schedule of the RSUs.

Industry Context

Granting RSUs to executives is a common practice in the tech industry to incentivize performance and retain key personnel. The specific vesting schedule and amount of RSUs granted are tailored to the individual executive's role and the company's compensation strategy.

Comparison to Industry Standards

• Executive compensation packages, including RSU grants, vary significantly across the software industry depending on company size, performance, and executive responsibilities.
• Companies like Salesforce, Adobe, and Oracle also utilize RSU grants as a key component of executive compensation.
• The vesting schedules are generally similar, with vesting occurring over a period of several years to align executive interests with long-term shareholder value.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive incentive for the CEO to drive long-term value.
• Employees may see the grant as a sign of the company's commitment to its leadership.

Key Dates