Form 4: Sprout Social President Ryan Paul Barretto Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Ryan Paul Barretto, President of Sprout Social, Inc., sold 13,306 shares of Class A Common Stock on September 4, 2024, to cover tax obligations related to the settlement of restricted stock units.
Summary
- On September 4, 2024, Ryan Paul Barretto, President of Sprout Social, Inc., sold 13,306 shares of Class A Common Stock at a price of $29.231 per share.
- The sale was executed to cover tax obligations arising from the settlement of restricted stock units (RSUs).
- Following the transaction, Barretto directly owns 470,809 shares of Class A Common Stock.
- Barretto also indirectly owns 186,975 shares through the Ryan Paul Barretto 2020 Gift Trust and the Ryan Paul Barretto Revocable Trust.
- The directly owned shares include various tranches of RSUs that vest over different periods, starting December 1, 2024, and extending into June 1, 2025.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (selling shares to cover tax obligations) and does not contain information that would significantly impact investor sentiment positively or negatively.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
Sales of shares by company executives are a common occurrence, often related to compensation and tax planning. The impact on the stock price depends on the size of the sale relative to the overall trading volume and investor sentiment.
Stakeholder Impact
- The sale of shares by a company executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 2022-11-21 | Irrevocable election made in conformity with the requirements of Rule 10b5-1. |
| 2024-09-04 | Date of transaction: Sale of 13,306 shares of Class A Common Stock. |
| 2024-09-05 | Date of signature for the Form 4 filing. |
| 2024-12-01 | Vesting start date for various RSU tranches. |
| 2025-03-01 | 25% of 69,538 RSUs will vest. |
| 2025-06-01 | Remaining RSUs vesting in 12 equal quarterly installments begins. |
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