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Sprout Social, Inc.·4

Mar 12, 5:41 PM ET

Howard Justyn Russell 4

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Sprout Social (SPT) 10% Owner Howard Russell Sells 40,000 Shares

What Happened
Howard Justyn Russell, a reported 10% owner of Sprout Social, converted derivative securities into Class B common stock and sold 40,000 shares in an open-market transaction on March 11, 2026. The shares were sold at a weighted-average price of $5.96, generating proceeds of $238,320. The conversion(s) of derivative securities were reported at $0.00 (no cash paid) and one converted derivative was also reported as disposed.

Key Details

  • Transaction date: March 11, 2026 (reported on Form 4 filed March 12, 2026).
  • Sale: 40,000 shares sold, weighted-average price $5.96; reported price range for the trades was $5.80–$6.16 per share. Total reported proceeds: $238,320. (Footnote: issuer can request detailed breakdown of shares sold at each price.)
  • Derivative activity: Conversion(s) of derivative securities into Class B common stock were reported (conversion price $0.00). One converted derivative is also listed as disposed.
  • Holdings after transaction (per filer): JRH Revocable Trust — 7,417 Class A and 806,190 Class B; EEH Revocable Trust — 170,000 Class B; JRH Gift Trust — 285,000 Class B; EEH Gift Trust — 300,000 Class B. (Total Class B shown: 1,561,190; Class A: 7,417.)
  • Footnotes: Transactions occurred under a 10b5-1 trading plan adopted Sept 12, 2025. Class B shares carry no economic rights, 10 votes per share, and are exchangeable one-for-one for Class A common stock.
  • Filing status: No late-filing flag reported on the Form 4.

Context
As a 10% owner (not an executive trade), this filing reflects institutional-level holdings and a pre-established trading plan (10b5-1), which is commonly used to execute trades regardless of any material non-public information. The conversion at $0.00 indicates derivative securities were converted into common stock (not a cash exercise), and those shares (or a portion) were sold in the market the same day. Sales are routine disclosures and do not, by themselves, indicate management sentiment; purchases tend to be more informative of bullish insider conviction.