Form 4: Sprinklr Executive Adams Sells Shares to Cover Tax Obligations

Diane Adams, Chief Culture & Talent Officer at Sprinklr, Inc., sold shares of Class A Common Stock to cover statutory tax withholding obligations.

Summary

• On October 28 and 29, 2024, Diane Adams, Chief Culture & Talent Officer of Sprinklr, Inc., engaged in transactions involving the company's stock.
• Adams acquired 1,000 shares of Class A Common Stock on October 28, 2024.
• She then sold 434 shares on October 29, 2024, at a price of $7.49 per share and 566 shares at a weighted average price of $7.53.
• These sales were to cover statutory tax withholding obligations related to the vesting of restricted stock units.
• The sale of shares was mandated by Sprinklr's equity incentive plans.
• Following these transactions, Adams directly owns 376,942 shares of Class A Common Stock.
• A portion of the transactions was executed under a pre-arranged Rule 10b5-1 trading plan adopted on April 15, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to tax obligations and pre-planned trading, without indicating any significant positive or negative developments for the company.

Positives

• The transactions were partly executed under a pre-arranged Rule 10b5-1 trading plan, indicating a planned approach to stock sales.

Industry Context

Insider transactions are common and closely monitored, especially in publicly traded companies like Sprinklr. Sales to cover tax obligations are a routine part of equity compensation programs.

Comparison to Industry Standards

• Sales to cover' transactions are a common practice among executives at publicly traded companies, particularly after vesting of restricted stock units.
• Similar transactions are frequently observed at companies like Salesforce (CRM) and Adobe (ADBE), where executives often sell a portion of their newly vested shares to meet tax obligations.
• The use of Rule 10b5-1 trading plans is also a standard practice to avoid accusations of insider trading, aligning with practices at companies such as Microsoft (MSFT) and Apple (AAPL).

Key Dates