SailPoint (SAIL) president sells 77,797 shares under tax sell-to-cover plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SailPoint, Inc. president Matt Mills reported routine share sales tied to tax withholding obligations. On July 7–8, 2026, he sold a total of 77,797 shares of common stock in three open-market transactions at weighted average prices of $16.729, $16.0515, and $15.4152 per share. After these sales, he directly held 2,373,537 shares of SailPoint common stock. The company notes the trades were executed under a Rule 10b5-1 trading plan and pursuant to a mandatory sell-to-cover provision in his Restricted Stock Unit Agreement to satisfy tax withholding on RSU vesting, so they are not discretionary trades.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 77,797 shares ($1,237,227)
Net Sell
3 txns
Insider
Mills Matt
Role
President
Sold
77,797 shs ($1.24M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 34,312 | $15.4152 | $529K |
| Sale | Common Stock | 28,280 | $16.0515 | $454K |
| Sale | Common Stock | 15,205 | $16.729 | $254K |
Holdings After Transaction:
Common Stock — 2,373,537 shares (Direct, null)
Footnotes (1)
- These trades were executed under a Rule 10b5-1 trading plan and pursuant to a mandatory sell-to-cover provision in the Reporting Person's underlying Restricted Stock Unit Agreement for the satisfaction of tax withholding obligations in connection with the vesting of restricted stock units and consequently do not represent discretionary trades by the Reporting Person. On July 7, 2026, the Reporting Person sold 28,280 shares in multiple trades at prices ranging from $15.55 to $16.545 per share. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were effected. On July 7, 2026, the Reporting Person sold 15,205 shares in multiple trades at prices ranging from $16.55 to $16.95 per share. On July 8, 2026, the Reporting Person sold 34,312 shares in multiple trades at prices ranging from $15.115 to $16.015 per share.
Key Figures
Total shares sold: 77,797 shares
Shares held after transactions: 2,373,537 shares
Weighted average price (sale 1): $16.729 per share
+2 more
5 metrics
Total shares sold
77,797 shares
Open-market sales on July 7–8, 2026
Shares held after transactions
2,373,537 shares
Direct ownership following July 8, 2026 sale
Weighted average price (sale 1)
$16.729 per share
Open-market sale of 15,205 shares on July 7, 2026
Weighted average price (sale 2)
$16.0515 per share
Open-market sale of 28,280 shares on July 7, 2026
Weighted average price (sale 3)
$15.4152 per share
Open-market sale of 34,312 shares on July 8, 2026
Key Terms
Rule 10b5-1 trading plan, Restricted Stock Unit Agreement, weighted average sale price, sell-to-cover
4 terms
Rule 10b5-1 trading plan regulatory
"These trades were executed under a Rule 10b5-1 trading plan and pursuant to a mandatory sell-to-cover provision..."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Restricted Stock Unit Agreement financial
"pursuant to a mandatory sell-to-cover provision in the Reporting Person's underlying Restricted Stock Unit Agreement for the satisfaction of tax withholding..."
A restricted stock unit agreement is a written contract between a company and an individual that describes a promise to deliver company shares or cash later, subject to conditions such as time-based vesting or performance targets. Think of it like a timed gift: the recipient only receives the shares if they meet the agreed conditions. Investors care because these agreements create future share issuance, affect potential dilution, corporate expenses and incentives for insiders, and influence when insiders may sell shares.
weighted average sale price financial
"The price reported above reflects the weighted average sale price."
sell-to-cover financial
"pursuant to a mandatory sell-to-cover provision in the Reporting Person's underlying Restricted Stock Unit Agreement..."
Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.
FAQ
What did SailPoint (SAIL) president Matt Mills report in this Form 4?
Matt Mills reported selling 77,797 shares of SailPoint common stock on July 7–8, 2026. The sales occurred in three open-market transactions and were linked to tax withholding obligations under his restricted stock unit agreement.