Sandeep Bhargava - Sep 1, 2021 Form 4 Insider Report for Rackspace Technology, Inc. (RXT)

Role: Managing Director, APJ
Signature: /s/ Stefanie Box, as attorney-in-fact
Stock symbol: RXT
Transactions as of: Sep 1, 2021
Transactions value $: $0
Form type: 4
Date filed: 9/3/2021, 02:08 PM
Previous filing: Nov 9, 2021
Next filing: Feb 11, 2022

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	RXT	Employee Stock Option (right to buy)	Award	$0	+200K		$0.00	200K	Sep 1, 2021	Common Stock, par value $0.01	200K	$12.87	Direct	F1
transaction	RXT	Employee Stock Option (right to buy)	Award	$0	+80K		$0.00	80K	Sep 1, 2021	Common Stock, par value $0.01	80K	$11.41	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On September 17, 2019, the reporting person was granted an option to purchase up to 200,004 shares of common stock. The option vests on the satisfaction of certain performance criteria, and satisfaction of such performance criteria is currently measured by whether the volume-weighted average price of the Issuer's common stock for the preceding 30-trading days meets certain target levels. Based on satisfaction of the performance criteria, on September 1, 2021, 114,002 performance-based options vested. The remaining performance-based options remain eligible for vesting, tested on each trading day, until the volume-weighted average price of the Issuer's common stock for the preceding 30-trading days meets certain target levels.
F2	On May 4, 2020, the reporting person was granted an option to purchase up to 80,004 shares of common stock. The option vests on the satisfaction of certain performance criteria, and satisfaction of such performance criteria is currently measured by whether the volume-weighted average price of the Issuer's common stock for the preceding 30-trading days meets certain target levels. Based on satisfaction of the performance criteria, on September 1, 2021, 45,602 performance-based options vested. The remaining performance-based options remain eligible for vesting, tested on each trading day, until the volume-weighted average price of the Issuer's common stock for the preceding 30-trading days meets certain target levels.

Content

On September 17, 2019, the reporting person was granted an option to purchase up to 200,004 shares of common stock. The option vests on the satisfaction of certain performance criteria, and satisfaction of such performance criteria is currently measured by whether the volume-weighted average price of the Issuer's common stock for the preceding 30-trading days meets certain target levels. Based on satisfaction of the performance criteria, on September 1, 2021, 114,002 performance-based options vested. The remaining performance-based options remain eligible for vesting, tested on each trading day, until the volume-weighted average price of the Issuer's common stock for the preceding 30-trading days meets certain target levels.

On May 4, 2020, the reporting person was granted an option to purchase up to 80,004 shares of common stock. The option vests on the satisfaction of certain performance criteria, and satisfaction of such performance criteria is currently measured by whether the volume-weighted average price of the Issuer's common stock for the preceding 30-trading days meets certain target levels. Based on satisfaction of the performance criteria, on September 1, 2021, 45,602 performance-based options vested. The remaining performance-based options remain eligible for vesting, tested on each trading day, until the volume-weighted average price of the Issuer's common stock for the preceding 30-trading days meets certain target levels.