Aaron E. F. Rankin - Mar 13, 2023 Form 4 Insider Report for Sprout Social, Inc. (SPT)

Role
Chief Technology Officer, Director, 10%+ Owner
Signature
/s/ Heidi Jonas, Attorney-in-fact for Aaron E.F. Rankin
Stock symbol
SPT
Transactions as of
Mar 13, 2023
Transactions value $
-$576,716
Form type
4
Date filed
3/15/2023, 04:01 PM
Previous filing
Mar 3, 2023
Next filing
Mar 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPT Class A Common Stock Conversion of derivative security $0 +4.5K $0.00 4.5K Mar 13, 2023 See footnote F1
transaction SPT Class A Common Stock Sale -$114K -2.05K -45.56% $55.45 2.45K Mar 13, 2023 See footnote F1, F2
transaction SPT Class A Common Stock Sale -$11.2K -200 -8.16% $56.14 2.25K Mar 13, 2023 See footnote F1, F3
transaction SPT Class A Common Stock Sale -$114K -2.05K -91.11% $55.41 200 Mar 13, 2023 See footnote F1, F4
transaction SPT Class A Common Stock Sale -$11.2K -200 -100% $56.14 0 Mar 13, 2023 See footnote F1, F5
transaction SPT Class A Common Stock Conversion of derivative security $0 +5.45K $0.00 5.45K Mar 14, 2023 See footnote F1
transaction SPT Class A Common Stock Sale -$327K -5.45K -100% $60.00 0 Mar 14, 2023 See footnote F1
holding SPT Class A Common Stock 28.6K Mar 13, 2023 Direct F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SPT Class B Common Stock Conversion of derivative security $0 -4.5K -0.16% $0.00 2.82M Mar 13, 2023 Class A Common Stock 4.5K See footnote F1, F7
transaction SPT Class B Common Stock Conversion of derivative security $0 -5.45K -0.19% $0.00 2.81M Mar 14, 2023 Class A Common Stock 5.45K See footnote F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Following the transactions reported herein, this represents (i) 739,812 shares of Class B common stock held by the Aaron Edward Frederick Rankin Revocable Trust, of which Mr. Rankin serves as the sole trustee; (ii) 1,250,962 shares of Class B common stock held by the Rankin Family 2013 Trust, of which Yeming Shi Rankin, Mr. Rankin's spouse, serves as the sole trustee; and (iii) 821,931 shares of Class B common stock held by the Rankin Family 2013 Non-Exempt Trust, of which Yeming Shi Rankin serves as the sole trustee. Yeming Shi Rankin may be deemed to have sole voting and dispositive power with respect to the Class B common stock held by, each of the Rankin Family 2013 Trust and the Rankin Family 2013 Non-Exempt Trust.
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $55.02 to $55.85 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $56.09 to $56.24 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $55.01 to $55.85 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $56.09 to $56.26 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F6 This total reported in column 5 includes: (1) 5,509 reported Restricted Stock Units ("RSUs") which vest in 4 equal quarterly installments beginning on June 1, 2023; (2) 4,922 reported RSUs which vest in 8 equal quarterly installments beginning on June 1, 2023; and (3) 12,308 reported RSUs which vest in 12 equal quarterly installments beginning on June 1, 2023. Each RSU represents the contingent right to receive one share of Class A Common Stock of the Issuer and does not expire.
F7 Shares of Class B Common Stock have no economic rights and each share entitles its holder to 10 votes per share. Each share of Class B Common Stock is exchangeable by the holder on a one-for-one basis for Class A Common Stock at any time and does not expire.

Remarks:

The transactions reported on this form 4 occurred under a 10b5-1 plan.