Insider Sell-to-Cover: Sprinklr (CXM) GC Sells 6,688 Shares at $7.75 Avg
Rhea-AI Filing Summary
Scott Jacob, General Counsel of Sprinklr, Inc. (CXM), reported a non-discretionary sell-to-cover transaction on 09/16/2025 in connection with the vesting of restricted stock units. The Form 4 shows 6,688 shares of Class A common stock were sold at a weighted average price of $7.75 (sales ranged from $7.67 to $7.81) to satisfy statutory tax withholding obligations. After the transaction, the Reporting Person beneficially owned 434,976 shares. The sale is described as mandated by the issuer’s equity plan and not a discretionary sale by the Reporting Person. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 09/18/2025.
Positive
- Transaction was non-discretionary and conducted to satisfy statutory tax withholding obligations, per the filing
- Form 4 filed and signed (via attorney-in-fact), indicating compliance with Section 16 reporting requirements
Negative
- Reported disposal of 6,688 shares reduced the reporting person's beneficial ownership to 434,976 shares
Insights
TL;DR: Routine, non-discretionary sell-to-cover for tax withholding; no evidence of discretionary insider selling.
The filing documents a mandatory sell-to-cover of 6,688 shares tied to RSU vesting, a common administrative action under equity incentive plans. The disclosure specifies the transaction was required by the issuer to satisfy minimum statutory tax withholding and expressly states it was not a discretionary sale. Beneficial ownership remains at 434,976 shares after the transaction. From a governance perspective, the form follows Section 16 reporting norms and signals standard compliance with equity plan mechanics rather than a change in insider sentiment.
TL;DR: Small, administrative sale; limited potential market impact given the size and stated purpose.
The weighted-average sale price reported is $7.75 with execution prices between $7.67 and $7.81. The number of shares sold (6,688) represents the shares required to cover withholding for vested RSUs; the filer retains 434,976 shares beneficially. The disclosure is explicit about the sell-to-cover nature, reducing the likelihood this reflects a voluntary liquidity event by the insider. This filing alone provides no operational or financial performance information about the company.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 6,688 | $7.75 | $52K |
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 $7.67 to $7.81 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.
