Form 4: Sprinklr Director Neeraj Agrawal Reports Acquisition of Restricted Stock Units

Neeraj Agrawal, a director and 10% owner of Sprinklr, Inc., reported the acquisition of 22,522 restricted stock units (RSUs) and provided details on his direct and indirect beneficial ownership of Class A Common Stock.

Summary

• On June 13, 2024, Neeraj Agrawal, a director and 10% owner of Sprinklr, Inc., acquired 22,522 restricted stock units (RSUs).
• These RSUs will vest on the earlier of June 13, 2025, or the day prior to the company's 2025 annual stockholder meeting, contingent upon continuous service.
• Agrawal directly owns 994,359 shares of Class A Common Stock.
• He also has indirect ownership through various entities, including the Neeraj Agrawal Revocable Trust of 2012 (1,505 shares), Battery Ventures IX, L.P. (9,236,367 shares), Battery Investment Partners IX, LLC (89,652 shares), Battery Ventures Select Fund I, L.P. (2,180,664 shares), and Battery Investment Partners Select Fund I, L.P. (215,670 shares).
• Agrawal disclaims beneficial ownership of the indirectly held securities except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of RSUs by a director is generally a positive sign, indicating confidence in the company's future. However, the filing itself is a routine disclosure.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.
• Agrawal's significant direct and indirect ownership demonstrates a strong alignment of interests with other shareholders.

Future Outlook

The vesting of the RSUs is contingent upon the Reporting Person's continuous service through the vesting date, indicating an incentive for continued involvement with the company.

Industry Context

This filing is a routine disclosure related to insider transactions and provides transparency to investors regarding the ownership structure of Sprinklr. It is common for directors and officers of publicly traded companies to receive stock-based compensation, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded technology companies like Sprinklr to incentivize executives and align their interests with shareholders.
• Companies such as Salesforce, Adobe, and HubSpot also utilize RSUs and stock options as part of their compensation packages.
• The vesting schedules and terms of these awards are typically structured to encourage long-term commitment and performance.

Stakeholder Impact

• Shareholders: The disclosure provides transparency regarding insider ownership and potential alignment of interests.
• Employees: The vesting of RSUs incentivizes continued service and contribution to the company's success.

Key Dates