ServiceNow (NOW) President Paul Fipps Exercises RSUs, Surrenders Shares for Taxes

What Happened
Paul Fipps, President, Global Customer Operations at ServiceNow (NOW), had restricted stock units (RSUs) settle on August 17, 2026. The filing shows conversion/settlement of 640 RSUs (340 and 300) into common shares. To satisfy tax withholding obligations, 136 shares and 120 shares were surrendered at $117.70 per share (total tax withholding = $16,007 + $14,124 = $30,131). Net shares received from the settlement = 640 − 256 = 384 shares.

Key Details

• Transaction date: 2026-08-17; Form 4 filed 2026-08-19 (timely).
• Exercise/settlement entries: 340 and 300 RSUs converted (reported as derivative transactions, code M) at $0 exercise price (RSUs convert to shares).
• Withholding/tax disposition: 136 and 120 shares disposed at $117.70 each (code F), totaling $30,131.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes: F1 = shares relinquished to cover federal/state tax withholding; F2 = each RSU = contingent right to one share; F3/F4 = RSUs vest quarterly as 1/16th of each grant (first vestings May 17, 2023 and Nov 17, 2023), subject to continued service.

Context
This was a routine RSU settlement with cashless tax withholding (shares surrendered to cover taxes), not an open‑market sale or a purchase. Such withholding transactions are common when equity awards vest and do not by themselves signal insider sentiment. The filing appears timely (filed two days after the vesting date).