Joseph Del - Jun 5, 2023 Form 4 Insider Report for Sprout Social, Inc. (SPT)

Role
CFO and Treasurer
Signature
/s/ Heidi Jonas, Attorney-in-fact for Joseph Del Preto
Stock symbol
SPT
Transactions as of
Jun 5, 2023
Transactions value $
-$174,871
Form type
4
Date filed
6/7/2023, 04:57 PM
Previous filing
May 10, 2023
Next filing
Jul 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPT Class A Common Stock Sale -$110K -2.5K -1.71% $43.89 143K Jun 5, 2023 Direct F1, F2
transaction SPT Class A Common Stock Sale -$65.3K -1.5K -1.05% $43.52 142K Jun 6, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares sold pursuant to an irrevocable election made on November 21, 2022, in conformity with the requirements of Rule 10b5-1 for the purpose of covering tax obligations upon settlement of restricted stock units ("RSUs").
F2 After giving effect to the transactions reported herein: (1) 6,198 reported RSUs, which vest in 3 equal quarterly installments beginning on September 1, 2023; (2) 5,209 reported RSUs which vest in 5 equal monthly installments beginning on June 29, 2023; (3) 6,461 reported RSUs which vest in 7 equal quarterly installments beginning on September 1, 2023; (4) 24,103 reported RSUs which vest in 11 equal quarterly installments beginning on September 1, 2023; and (5) 40,631 reported RSUs of which 25% will vest on March 1, 2024 with the remaining RSUs vesting in 12 equal quarterly installments beginning on June 1, 2024. Each RSU represents the contingent right to receive one share of Class A Common Stock of the Issuer and does not expire.
F3 This transaction occurred under a 10b5-1 plan adopted by the Reporting Person on August 5, 2022.