NOW Insider Filing: Canney RSU Vesting, Tax Withholding and 10b5-1 Sale
Rhea-AI Filing Summary
Jacqueline P. Canney, Chief People & AI Enablement Officer at ServiceNow (NOW), reported changes in beneficial ownership. The filing shows 137 restricted stock units (RSUs) vested on 08/12/2025 and were recorded as acquired at $0, increasing the underlying holdings prior to withholding. To satisfy tax withholding from the RSU vesting, 70 shares were withheld/relieved at $853.43 per share on 08/12/2025. Separately, 67 shares were sold on 08/13/2025 at $860.57 per share under a pre-existing Rule 10b5-1 trading plan adopted Feb 27, 2025.
After these transactions the reporting person beneficially owned 3,027 shares. The RSUs vest quarterly in 1/16th increments with the first vesting on May 12, 2022, and vesting is conditioned on continued service.
Positive
- Use of a pre-established Rule 10b5-1 trading plan (adopted Feb 27, 2025) provides an affirmative defense for the reported sale
- Disclosure cites Rule 16b-3 tax withholding treatment for RSU vesting, indicating standard compliance
- Reporting person retained 3,027 shares after transactions, maintaining continued economic stake
Negative
- 70 shares were relinquished to cover tax withholding, reducing net share count
- 67 shares were sold under the 10b5-1 plan, representing realized disposition of vested shares
Insights
TL;DR: Routine executive vesting and tax-withholding sales with a planned sale under a 10b5-1 agreement; no material change to control.
The Form 4 discloses standard compensation-related activity: RSU vesting produced 137 underlying shares, of which 70 were surrendered to cover federal and state tax withholding and 67 were sold under an existing 10b5-1 plan. The trades were small relative to typical executive holdings and the filing shows continued ownership of 3,027 shares, indicating retention of economic exposure to the company. There is no indication of unusual or opportunistic timing beyond use of a pre-established trading plan.
TL;DR: Disclosure aligns with governance best practices: 10b5-1 adoption and tax-withholding in accordance with Rule 16b-3.
The filing explicitly notes the 10b5-1 trading plan adoption date and that share relinquishment to satisfy tax withholding follows Rule 16b-3, demonstrating compliance with Section 16 rules and insider trading defenses. Transactions are documented with dates, prices, and ownership post-transaction, supporting transparency. No departures, acceleration clauses, or other governance red flags are disclosed.