ServiceNow (NOW) Jacqueline Canney Exercises RSUs, Surrenders Shares for Taxes

What Happened

• Jacqueline P. Canney, ServiceNow’s Chief People & AI Enablement Officer, had restricted stock units (RSUs) convert to 2,630 shares on Aug 7, 2026 (reported Aug 11, 2026).
• Of the 2,630 shares issued on vesting, 1,343 shares were relinquished to the company to satisfy federal and state tax withholding obligations, generating proceeds of $124.88 per share, or approximately $167,714.
• The net result appears to be a delivery to Canney of the remaining 1,287 shares (2,630 vested minus 1,343 withheld) — the filing reports the conversion/vesting and the share surrender rather than an open-market sale.

Key Details

• Transaction date: 2026-08-07; Form 4 filed: 2026-08-11 (timely).
• Vesting/conversion: 2,630 RSUs converted to 2,630 shares (derivative transaction code M) at $0.00 exercise price (typical for RSUs).
• Tax withholding/surrender: 1,343 shares disposed at $124.88 per share for ~$167,714 (transaction code F).
• Shares owned after transaction: not stated in the filing; based on the reported activity, 1,287 shares were delivered to the insider after withholding.
• Footnotes: F1 confirms the surrendered shares were used to pay federal/state withholding; F2 clarifies each RSU equals one share; F3 describes the original RSU vesting schedule (small portions vested in 2024, then quarterly vesting beginning Feb 7, 2025).

Context

• This was not an open-market sale for investment reasons but a routine cashless tax-withholding transaction tied to RSU vesting: RSUs converted to shares (no exercise cost), and a portion was surrendered to cover tax obligations.
• Such withholding disposals are common when equity awards vest and do not necessarily signal the insider’s view of the company’s stock.