Form 4: Sprinklr CFO Sells Shares to Cover Tax Obligations

Sprinklr's Chief Financial Officer, Manish Sarin, sold a portion of his Class A Common Stock to cover tax obligations related to vesting restricted stock units.

Summary

• Manish Sarin, the Chief Financial Officer of Sprinklr, Inc., sold shares of Class A Common Stock on December 16th and 17th, 2024.
• The sales were executed to cover statutory tax withholding obligations associated with the vesting of restricted stock units.
• On December 16th, 26,890 shares were sold at a weighted average price of $9.37 per share.
• On December 17th, 228 shares were sold at a weighted average price of $9.32 per share.
• The total number of shares sold was 27,118.
• Following these transactions, Mr. Sarin beneficially owns 716,050 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations. It is not indicative of any positive or negative sentiment towards the company's performance.

Management Comments

• The sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of minimum statutory tax withholding obligations to be funded by a 'sell to cover' transaction and does not represent a discretionary sale by the Reporting Person.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for companies to require 'sell to cover' transactions to manage tax obligations.

Comparison to Industry Standards

• Many technology companies use restricted stock units as part of their compensation packages.
• It is standard practice for executives to sell shares to cover tax obligations upon vesting.
• The 'sell to cover' mechanism is a common method to manage tax liabilities associated with equity compensation.
• Comparable companies such as Salesforce, Adobe, and Oracle also have executives who regularly file Form 4s for similar transactions.

Stakeholder Impact

• The sale of shares by the CFO may have a minor impact on the stock price, but it is not expected to be significant given the nature of the transaction.

Key Dates

Keywords

Sprinklr, CXM, Manish Sarin, Chief Financial Officer, stock sale, Form 4, insider trading, tax obligations, restricted stock units