RingCentral (NYSE: RNG) president uses 46,250 shares to cover taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
RingCentral, Inc. president and COO Kira Makagon reported an exempt insider transaction involving company stock. On the reported date, she disposed of 46,250 shares of Class A common stock at $36.45 per share by remitting them back to RingCentral to cover tax withholding obligations from vesting restricted stock units. After this tax-withholding disposition, she directly holds 293,295 shares of RingCentral Class A common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Makagon Kira
Role
President and COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock | 46,250 | $36.45 | $1.69M |
Holdings After Transaction:
Class A Common Stock — 293,295 shares (Direct)
Footnotes (1)
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FAQ
What insider transaction did RingCentral (RNG) report for Kira Makagon?
RingCentral reported that president and COO Kira Makagon disposed of 46,250 shares of Class A common stock. The shares were remitted back to the company to satisfy tax withholding obligations triggered by the vesting of restricted stock units, rather than sold on the open market.
Was Kira Makagon’s RingCentral (RNG) transaction an open-market stock sale?
No, the transaction was not an open-market sale. It was an exempt disposition to RingCentral under Rule 16b-3(e), where shares were surrendered to the issuer solely to cover tax withholding arising from the vesting of restricted stock units granted to Kira Makagon.
At what price was Kira Makagon’s RingCentral (RNG) tax-withholding transaction recorded?
The Form 4 records the tax-withholding disposition at $36.45 per RingCentral Class A share. This price is used for reporting the value of shares remitted to the issuer in connection with satisfying tax obligations from restricted stock unit vesting.
What does a Rule 16b-3(e) exempt disposition mean for RingCentral (RNG) insiders?
A Rule 16b-3(e) exempt disposition allows insiders to transfer shares to the issuer without triggering short-swing profit rules. In this RingCentral case, Kira Makagon used the exemption to remit shares back to the company solely to cover tax withholding from restricted stock unit vesting.