4/A: Sprinklr Director Ragy Thomas Sells Shares to Cover Tax Obligations

Director Ragy Thomas sold 16,833 shares of Sprinklr, Inc. to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On September 18, 2023, Ragy Thomas, a director at Sprinklr, Inc., sold 16,833 shares of Class A Common Stock.
• The sale was executed to cover statutory tax withholding obligations associated with the vesting of restricted stock units.
• The shares were sold at a weighted average price of $14.86, with individual transactions ranging from $14.81 to $14.905.
• Following the transaction, Thomas directly owns 465,937 shares of Sprinklr, Inc.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transaction is a routine sale to cover tax obligations and doesn't indicate a significant change in the director's outlook on the company.

Industry Context

Sales to cover tax obligations are a common practice among executives receiving equity compensation. This transaction reflects standard equity management practices and doesn't necessarily indicate a change in the director's confidence in the company.

Comparison to Industry Standards

• Similar 'sell to cover' transactions are frequently observed among executives at comparable SaaS companies like Salesforce (CRM) and Adobe (ADBE) when restricted stock units vest.
• The volume of shares sold is relatively small compared to the director's total holdings, which is consistent with typical tax withholding strategies.
• The weighted average price achieved is within a normal range for daily trading activity of Sprinklr (CXM) stock.

Stakeholder Impact

• The sale may have a minor, temporary impact on the stock price due to the increased selling volume.
• The transaction does not directly affect employees, customers, suppliers, or creditors.

Key Dates

Keywords

Sprinklr, Ragy Thomas, Director, Stock Sale, Tax Withholding, Class A Common Stock, CXM, SEC Form 4