Fipps Paul 4

What Happened

• Paul Fipps, President, Global Customer Operations at ServiceNow (NOW), converted restricted/derivative awards and had an open‑market sale. On Feb 17, 2026 he converted/received multiple derivative awards (reported as exercises/conversions and a grant of 67,225 RSUs). Some shares (4,037) were surrendered to cover tax withholding. On Feb 18, 2026 he sold 9,641 shares in the open market at $105.93 for proceeds of about $1,021,271.
• These transactions include tax withholding (F) and derivative conversions/awards (M/A). The withheld shares covered federal/state taxes from vesting; the larger grant reported (67,225 RSUs) is a restricted stock unit award (no cash outlay).

Key Details

• Dates & prices: Conversions/awards reported Feb 17, 2026; open‑market sale on Feb 18, 2026 at $105.93 (sale proceeds ≈ $1,021,271). Share‑for‑tax withholding shown at $105.91 per share (total ≈ $427,559 across withholdings).
• Shares acquired/converted vs sold: Filings show conversions/exercises of ~10,108 derivative units and a grant of 67,225 RSUs; 4,037 shares were withheld for taxes and 9,641 shares were sold. The filing does not state total shares owned after these transactions in the provided excerpt.
• Notable footnotes: F1 = shares surrendered for tax withholding; F2 = the sale was effected under a Rule 10b5‑1 trading plan adopted Nov 19, 2025; F3–F8 describe RSU/performance vesting terms and timing (including performance adjustments and staggered quarterly vesting).
• Timeliness: Filing shows no late‑filing flag in the provided data (no “L” flag noted).

Context

• These were mainly vesting/conversion events and a subsequent open‑market sale under a pre‑arranged 10b5‑1 plan. The tax withholding indicates a cashless settlement of vesting RSUs (shares used to cover tax obligations). Sales executed under 10b5‑1 plans are typically pre‑scheduled; they do not necessarily indicate a change in the insider’s view of the company.