Form 4: Sprinklr Director Sells $3.5M in Class A Stock

Sprinklr Director Neeraj Agrawal, through affiliated entities, sold a total of 374,479 shares of Class A Common Stock over three days in October 2025.

Summary

• Neeraj Agrawal, a Director and 10% Owner of Sprinklr, Inc. (CXM), reported sales of Class A Common Stock.
• The transactions occurred on October 6, 7, and 8, 2025.
• A total of 374,479 shares were sold across these three days.
• Sales were executed by Battery Ventures IX, L.P. and Battery Investment Partners IX, LLC, entities where Mr. Agrawal is a managing member and may share voting and dispositive power.
• The sales were made pursuant to a Rule 10b5-1 trading plan.
• On October 6, 2025, 88,584 shares were sold at a weighted average price of $7.78, and 895 shares were sold at a weighted average price of $7.78.
• On October 7, 2025, 133,650 shares were sold at a weighted average price of $7.51, and 1,350 shares were sold at a weighted average price of $7.51.
• On October 8, 2025, 148,500 shares were sold at a weighted average price of $7.61, and 1,500 shares were sold at a weighted average price of $7.61.
• Following these transactions, Battery Ventures IX, L.P. and Battery Investment Partners IX, LLC no longer hold shares from these specific tranches.
• Mr. Agrawal continues to have indirect beneficial ownership through other Battery Ventures entities (BV Select I, BIP Select I) and a Trust, totaling 2,596,578 shares, and direct beneficial ownership of 663,143 shares.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to significant insider selling by a director and 10% owner. While the sales are under a 10b5-1 plan, which suggests pre-planning rather than immediate reaction to negative news, the sheer volume of shares sold (374,479 shares) could still be interpreted by the market as a lack of strong conviction or a move to diversify away from the company.

Negatives

• Significant insider selling by a director and 10% owner could be perceived negatively by the market, potentially signaling a lack of confidence in the company's near-term prospects.
• The total value of shares sold amounts to approximately $3.5 million, representing a notable divestment.

Risks

• Investor sentiment could be negatively impacted by the perception of insider selling, potentially leading to downward pressure on the stock price.
• While the sales were made under a Rule 10b5-1 plan, which indicates pre-planning, large sales by key insiders can still raise questions about future growth or valuation.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This insider transaction report does not provide specific details to analyze its relation to broader industry trends or competitors. Insider sales are common for various personal financial planning reasons, including diversification, and do not inherently reflect industry-specific challenges or opportunities.

Comparison to Industry Standards

• This filing reports routine insider stock sales and does not contain information that allows for a direct comparison to global benchmarks, comparable companies, or specific project results within the industry.

Related Party Transactions

• The sales were conducted by Battery Ventures IX, L.P. and Battery Investment Partners IX, LLC, entities where Neeraj Agrawal, a Director of Sprinklr, Inc., is a managing member and may be deemed to share voting and dispositive power.
• Mr. Agrawal disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders may view the significant insider selling as a potential signal of reduced confidence, which could lead to negative sentiment and downward pressure on the stock price.
• Employees: No direct impact mentioned, but significant insider sales can sometimes affect morale if perceived as a lack of belief in the company's future.

Next Steps

• The filing does not mention any specific future actions, events, or milestones for the company or the reporting person beyond the reported transactions.

Key Dates

Recommendation

While the filing reports significant insider sales by a director and 10% owner, these transactions were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not necessarily a reaction to new negative information. Without additional context on the company's fundamentals, recent performance, or broader market conditions, a 'hold' recommendation is appropriate. Investors should monitor future company announcements and market reactions, but this filing alone does not warrant a 'buy' or 'sell' based solely on the insider's diversification or liquidity needs.

Keywords

Sprinklr, CXM, Insider Sale, Form 4, Neeraj Agrawal, Battery Ventures, Stock Transaction, Director Sale, Equity Sales, 10b5-1 Plan