Form 4: Sprout Social CFO Joseph Del Preto Sells 1,500 Shares Under 10b5-1 Plan

Joseph Del Preto, CFO and Treasurer of Sprout Social, Inc., sold 1,500 shares of Class A Common Stock at a price of $59.63 per share on April 1, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On April 1, 2024, Joseph Del Preto, the CFO and Treasurer of Sprout Social, Inc., sold 1,500 shares of Class A Common Stock.
• The sale was executed at a price of $59.63 per share.
• The transaction occurred under a pre-arranged 10b5-1 trading plan adopted on August 16, 2023.
• Following the transaction, Del Preto directly owns 172,644 shares of Class A Common Stock.
• This total includes 3,692 RSUs vesting in 4 equal quarterly installments beginning June 1, 2024.
• It also includes 17,529 RSUs vesting in 8 equal quarterly installments beginning June 1, 2024.
• An additional 30,474 RSUs vest in 12 equal quarterly installments beginning June 1, 2024.
• Finally, 55,122 RSUs vest with 25% on March 1, 2025, and the remainder in 12 equal quarterly installments beginning June 1, 2025.
• Each RSU represents the right to receive one share of Class A Common Stock and does not expire.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports a routine transaction under a pre-existing trading plan. There's no indication of positive or negative implications for the company's performance.

Industry Context

This Form 4 filing is a routine disclosure of insider trading activity. It's common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information. The sale itself doesn't necessarily indicate a negative outlook for the company.

Key Dates