Aaron E. F. Rankin - Mar 4, 2024 Form 4 Insider Report for Sprout Social, Inc. (SPT)

Signature
/s/ Heidi Jonas, Attorney-in-fact for Aaron E.F. Rankin
Stock symbol
SPT
Transactions as of
Mar 4, 2024
Transactions value $
-$1,610,321
Form type
4
Date filed
3/6/2024, 04:32 PM
Previous filing
Feb 6, 2024
Next filing
Mar 29, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPT Class A Common Stock Sale -$204K -3.19K -7.79% $64.02 37.7K Mar 4, 2024 Direct F1, F2
transaction SPT Class A Common Stock Conversion of derivative security $0 +22K $0.00 22K Mar 4, 2024 See footnote F3, F4
transaction SPT Class A Common Stock Sale -$123K -1.95K -8.86% $63.34 20.1K Mar 4, 2024 See footnote F3, F4, F5
transaction SPT Class A Common Stock Sale -$580K -9.05K -45.14% $64.05 11K Mar 4, 2024 See footnote F3, F4, F6
transaction SPT Class A Common Stock Sale -$118K -1.86K -16.93% $63.34 9.14K Mar 4, 2024 See footnote F3, F4, F5
transaction SPT Class A Common Stock Sale -$585K -9.14K -100% $64.05 0 Mar 4, 2024 See footnote F3, F4, F7

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 -22K -0.84% $0.00 2.61M Mar 4, 2024 Class A Common Stock 22K See footnote F3, F4, F8
* 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 transaction reported herein, the total reported in column 5 includes: (1) 2,461 reported RSUs which vest in 4 equal quarterly installments beginning on June 1, 2024; (2) 8,205 reported RSUs which vest in 8 equal quarterly installments beginning on June 1, 2024; and (3) 12,190 reported RSUs which vest 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 10b5-1 plans adopted by the Reporting Person on August 25, 2023.
F4 After giving effect to the transactions reported herein, this represents: (i) 625,712 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) 735,931 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.
F5 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.73 to $63.70 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 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.75 to $64.70 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.
F7 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.73 to $64.71 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.
F8 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.