Cerence Inc.: EVP Product & Technology Nils Schanz sold 52,439 shares

What happened Nils Schanz, EVP Product & Technology, sold 52,439 shares at $8.00 per share on Oct 7, 2026, for $419,512, according to a Form 4 filed on Oct 9, 2026. The filing reports the transaction as an open market or private sale (code S).

Key details

• Transaction date and price: Oct 7, 2026; $8.00 per share.
• Total proceeds: $419,512.
• Transaction code: S (sale).
• Shares owned after the transaction: not stated in the filing.
• Footnote F1 in the filing: "Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person."
• Filing details: Form 4 filed Oct 9, 2026; period of report Oct 7, 2026; Accession No. 0001768267-26-000025.

Why it may matter

• The filing states the sale was a "sell to cover" to satisfy tax withholding on RSU vesting (footnote F1), and the filing characterizes the sale as not a discretionary trade by the reporting person.
  The filing does not show why the insider traded or why the company acted.