Form 4: Sprinklr Director Sells Shares to Cover Tax Obligations

A Sprinklr director, Ragy Thomas, sold shares to cover tax obligations related to vesting restricted stock units.

Summary

• Ragy Thomas, a director at Sprinklr, Inc., sold a total of 15,387 shares of Class A Common Stock.
• The sales occurred on December 16 and 17, 2024.
• The shares were sold at weighted average prices of $9.37 and $9.32 respectively.
• These sales were to cover statutory tax withholding obligations related to the vesting of restricted stock units.
• The sales were not discretionary but mandated by the company's equity incentive plan.
• Following these transactions, Mr. Thomas beneficially owns 1,032,532 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction for tax purposes, not indicative of a change in the company's prospects or the director's confidence. Therefore, the sentiment is neutral.

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

Sales of shares by company directors to cover tax obligations are a common occurrence and do not necessarily indicate a negative outlook for the company.

Comparison to Industry Standards

• Similar sales by directors are common across the tech industry, especially after vesting of stock options or restricted stock units.
• The sale is consistent with standard practice for covering tax liabilities associated with equity compensation.

Stakeholder Impact

• The share sales have a minimal impact on shareholders as they are routine transactions for tax purposes.

Key Dates

Keywords

Sprinklr, Director, Share Sale, Tax Obligations, Restricted Stock Units, CXM, Form 4, Equity Incentive Plan