Cadian exits Sprout Social, reports 0% ownership

Sprout Social, Inc. disclosed that investment firm Cadian Capital Management, its general partner Cadian Capital Management GP, LLC, and Eric Bannasch have amended their ownership report on the company’s Class A common stock.

Rhea-AI Filing Summary

Sprout Social, Inc. disclosed that investment firm Cadian Capital Management, its general partner Cadian Capital Management GP, LLC, and Eric Bannasch have amended their ownership report on the company’s Class A common stock.

As of December 31, 2025, each reporting person is deemed to beneficially own 0 shares of Sprout Social Class A common stock, representing approximately 0.0% of the outstanding class. The filing confirms they have no sole or shared voting or dispositive power over any Sprout Social shares and now report ownership of 5 percent or less of the class.

Insights

Institutional Ownership Analyst

Cadian now reports a 0% position in Sprout Social.

Cadian Capital Management, its general partner, and Eric Bannasch report beneficial ownership of 0 Sprout Social Class A shares, or approximately 0.0% of the class, as of December 31, 2025. This indicates a complete exit from reportable ownership levels.

The group reports no sole or shared voting or dispositive power over any shares, reinforcing that they no longer hold a meaningful equity stake. The filing is made on a Schedule 13G/A (Amendment No. 3), which is the standard form for passive institutional holders.

While this changes the roster of significant institutional holders, it does not directly address company operations, financial performance, or strategy. Subsequent ownership filings from other investors will show how Sprout Social’s shareholder base continues to evolve.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change in ownership does the Sprout Social (SPT) Schedule 13G/A report?

The filing reports that Cadian Capital Management, its general partner, and Eric Bannasch now beneficially own 0 shares of Sprout Social Class A common stock, representing approximately 0.0% of the class as of December 31, 2025.

Who are the reporting persons in Sprout Social (SPT)’s latest Schedule 13G/A?

The reporting persons are Cadian Capital Management, LP, Cadian Capital Management GP, LLC, and Eric Bannasch. They jointly report on ownership of Sprout Social Class A common stock and provide a common business address in New York, New York in the filing.

What percentage of Sprout Social (SPT) does Cadian Capital report owning now?

Cadian Capital and the other reporting persons state they beneficially own approximately 0.0% of Sprout Social’s Class A common stock as of December 31, 2025. The aggregate amount beneficially owned by each reporting person is listed as 0 shares.

Does Cadian Capital retain any voting power over Sprout Social (SPT) shares?

No. The filing shows 0 shares under both sole and shared voting power and 0 shares under sole and shared dispositive power. This means the reporting persons do not control voting or disposition of any Sprout Social Class A shares.

What type of securities are covered in this Sprout Social (SPT) Schedule 13G/A?

The Schedule 13G/A covers Class A Common Stock of Sprout Social, Inc., with a par value of $0.0001 per share. The filing identifies the security using CUSIP number 85209W109 and focuses solely on this class.

Why is the Sprout Social (SPT) Schedule 13G/A filed as an amendment?

It is labeled Amendment No. 3, updating prior beneficial ownership reports. As of December 31, 2025, the reporting persons indicate their holdings have changed to 0 shares and 0.0% of the class, requiring an amended Schedule 13G filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/17/2026 - 02:27 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Sprout Social, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

85209W109

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 85209W109

1

Names of Reporting Persons

Cadian Capital Management, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 85209W109

1

Names of Reporting Persons

Cadian Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO, HC

SCHEDULE 13G

CUSIP No. 85209W109

1

Names of Reporting Persons

ERIC BANNASCH

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Sprout Social, Inc.
(b)	Address of issuer's principal executive offices: 131 South Dearborn Street, Suite 700, Chicago, Illinois, 60603
Item 2.
(a)	Name of person filing: (i) Cadian Capital Management, LP, (ii) Cadian Capital Management GP, LLC, and (iii) Eric Bannasch (collectively, the "Reporting Persons")
(b)	Address or principal business office or, if none, residence: For each of the Reporting Persons: 535 Madison Avenue, 36th Floor, New York, New York 10022
(c)	Citizenship: (i) Cadian Capital Management, LP is a Delaware limited partnership, (ii) Cadian Capital Management GP, LLC is a Delaware limited liability company, and (iii) Eric Bannasch is a United States citizen.
(d)	Title of class of securities: Class A Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 85209W109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of December 31, 2025, each of the Reporting Persons may have been deemed to have beneficially owned 0 shares of Common Stock, par value $0.0001 per share ("Common Stock"), of Sprout Social, Inc. (the "Issuer").
(b)	Percent of class: As of December 31, 2025, each of the Reporting Persons may have been deemed to have beneficially owned approximately 0.0% of the shares of Common Stock of the Issuer outstanding.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: As of December 31, 2025, each of the Reporting Persons may have been deemed to have had sole power to vote or to direct the vote of 0 shares of Common Stock.
	(ii) Shared power to vote or to direct the vote: As of December 31, 2025, each of the Reporting Persons may have been deemed to have had shared power to vote or to direct the vote of 0 shares of Common Stock.
	(iii) Sole power to dispose or to direct the disposition of: As of December 31, 2025, each of the Reporting Persons may have been deemed to have had sole power to dispose or direct the disposition of 0 shares of Common Stock.
	(iv) Shared power to dispose or to direct the disposition of: As of December 31, 2025, each of the Reporting Persons may have been deemed to have had shared power to dispose or to direct the disposition of 0 shares of Common Stock.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Cadian Capital Management, LP

Signature:	/s/ Eric Bannasch
Name/Title:	Eric Bannasch/Managing Member, Cadian Capital Management GP, LLC, its General Partner
Date:	02/17/2026

Cadian Capital Management GP, LLC

Signature:	/s/ Eric Bannasch
Name/Title:	Eric Bannasch/Managing Member
Date:	02/17/2026

ERIC BANNASCH

Signature:	/s/ Eric Bannasch
Name/Title:	Eric Bannasch/Self
Date:	02/17/2026