4/A: Sprout Social Director Aaron Rankin Corrects Previous SEC Filing Regarding Share Transactions

Aaron Rankin, a director and 10% owner of Sprout Social, Inc., amended a previous SEC filing to correct the reporting of a gift and sale of Class A Common Stock.

Summary

• Aaron Rankin, a director and 10% owner of Sprout Social, Inc., filed an amended Form 4 with the SEC to correct a previous filing from March 18, 2025.
• The amendment clarifies transactions that occurred on March 17, 2025, involving Class A Common Stock.
• The original filing incorrectly reported a conversion of 23,646 shares of Class B Common Stock and a sale of 23,646 shares of Class A Common Stock from the Aaron Edward Frederick Rankin Revocable Trust.
• The corrected filing shows that Mr. Rankin made a bona fide gift of 23,646 shares of Class A Common Stock from his direct holdings to the Aaron Edward Frederick Rankin Revocable Trust.
• Subsequently, 23,646 shares of Class A Common Stock were sold from the Aaron Edward Frederick Rankin Revocable Trust at a weighted average price of $24.576 per share, with prices ranging from $24.02 to $24.99.
• These transactions were executed under a 10b5-1 plan adopted on December 3, 2024.
• After these transactions, Mr. Rankin directly owns 18,476 shares of Class A Common Stock and indirectly owns 2,590,605 shares of Class B Common Stock through various trusts.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating a neutral sentiment. The transactions themselves (gift and sale) are not inherently positive or negative, but the correction suggests attention to detail and compliance.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider and is typical for publicly traded companies. It provides transparency into the trading activities of key personnel.

Comparison to Industry Standards

• SEC Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency in insider trading.
• The level of detail provided in this filing, including the price range and weighted average price, is consistent with regulatory requirements.
• Comparable companies like HubSpot, Salesforce, and Adobe also have similar insider transaction filings available for review.

Key Dates

Keywords

Form 4, amendment, Rankin, Sprout Social, SPT, Class A Common Stock, Class B Common Stock, SEC filing, 10b5-1 plan, gift, sale, director, beneficial ownership