Sprinklr (NYSE: CXM) CAO sells 33,635 shares to cover RSU tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Sprinklr, Inc. Chief Administrative Officer Joy Corso reported an open-market sale of 33,635 shares of Class A common stock at a weighted average price of about $5.30 per share. According to the disclosure, this transaction was a mandatory “sell to cover” sale to satisfy statutory tax withholding on vesting restricted stock units, rather than a discretionary sale. Following the transaction, Corso directly holds 1,175,616 shares of Sprinklr Class A common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 33,635 shares ($178,266)
Net Sell
1 txn
Insider
Corso Joy
Role
Chief Administrative Officer
Sold
33,635 shs ($178K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 33,635 | $5.30 | $178K |
Holdings After Transaction:
Class A Common Stock — 1,175,616 shares (Direct, null)
Footnotes (1)
- Represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting of the restricted stock units. This 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. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.24 to $5.33 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Key Figures
Shares sold: 33,635 shares
Weighted average sale price: $5.30 per share
Price range: $5.24–$5.33 per share
+1 more
4 metrics
Shares sold
33,635 shares
Open-market sale to cover RSU tax withholding
Weighted average sale price
$5.30 per share
Class A common stock sale
Price range
$5.24–$5.33 per share
Range of prices for multiple sale transactions
Shares held after transaction
1,175,616 shares
Direct Class A common stock ownership after sale
Key Terms
restricted stock units, sell to cover, weighted average price
3 terms
restricted stock units financial
"in connection with the vesting of the restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
sell to cover financial
"to be funded by a "sell to cover" transaction"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
weighted average price financial
"The price reported is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
FAQ
What insider transaction did Sprinklr (CXM) report for Joy Corso?
Sprinklr reported that Chief Administrative Officer Joy Corso sold 33,635 Class A common shares. The sale was linked to tax obligations arising from vesting restricted stock units and was executed as a mandatory “sell to cover” transaction under the company’s equity incentive plans.
Why did Sprinklr’s CAO use a sell-to-cover transaction for RSU taxes?
Sprinklr’s equity incentive plans require minimum statutory tax withholding on vesting restricted stock units to be funded through a “sell to cover” transaction. As a result, Joy Corso’s reported sale covered tax obligations instead of representing a voluntary decision to reduce her shareholdings.