NCNO insider files Rule 144 to sell 108,627 shares via Merrill Lynch

Rhea-AI Filing Summary

Form 144 notice from nCino, Inc. (NCNO) shows a proposed sale of 108,627 shares of common stock, with an aggregate market value of $3,302,260.80, to be executed through Merrill Lynch on Nasdaq around 09/08/2025. The shares were originally acquired on 06/15/2020 in a private placement from the issuer and were paid for in cash. The filer reports no other sales in the past three months. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information about the company and bears the criminal-liability warning for false statements.

Positive

• Regulatory compliance: The filer provided required Rule 144 details, including acquisition date, payment method, broker, and planned sale date.
• Transparency: No sales in the past three months were reported, and the filer attests to lack of undisclosed material adverse information.

Negative

• Insider selling: A planned resale of 108,627 shares (~$3.3M) could be viewed negatively by some investors if seen as a signal of insider liquidity needs.
• Limited context: The filing does not identify the selling party's role or remaining holdings, which limits investor ability to assess intent or materiality.

Insights

Securities Analyst

TL;DR: Insider sale filed for ~108.6k NCNO shares (~$3.3M); procedural disclosure, likely neutral unless part of larger pattern.

The filing documents a routine Rule 144 notice for an intended sale of restricted/private placement shares acquired in 2020. The use of a major broker and the filing itself demonstrate compliance with resale rules. On its own, a single Form 144 of this size is typically not material to NCNO's valuation unless it signals a sustained disposal program or coincides with undisclosed adverse developments. No other recent sales were reported, and the filer affirms no undisclosed material information.

Corporate Governance Expert

TL;DR: The filing meets regulatory requirements; transparency is positive, but insider selling can be perceived negatively by investors.

This submission fulfills procedural obligations under Rule 144 for resale of restricted stock from a private placement. It discloses acquisition date, payment method, broker, and planned sale date, which supports market transparency. Absent additional context—such as the seller's identity, remaining lock-up amounts, or a series of filings—this single notice should be treated as a compliance disclosure rather than a definitive governance concern.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Merrill Lynch Pierce Fenner and Smith One Bryant Park New York NY 10036	108627	3302260.80	115814720	09/08/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	06/15/2020	Private Placement	Issuer			108627	06/15/2020	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the NCNO Form 144 filing report?

The filing reports a proposed sale of 108,627 shares of NCNO common stock valued at $3,302,260.80, to be sold via Merrill Lynch on Nasdaq around 09/08/2025.

When were the shares acquired that are being sold under Rule 144?

The shares were acquired on 06/15/2020 in a private placement from the issuer and were paid for in cash.

Does the filing report other recent sales by the seller?

No. The Form 144 indicates "Nothing to Report" for securities sold during the past three months.

What does the filer represent about material information?

The filer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.

Which broker will execute the proposed sale?

Merrill Lynch Pierce Fenner and Smith (One Bryant Park, New York, NY) is listed as the broker.