SINHA DHARMENDRA KUMAR 4
4 · Rackspace Technology, Inc. · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Rackspace (RXT) EVP Dharmendra Kumar Sinha Sells 45,393 Shares
What Happened
Dharmendra Kumar Sinha, EVP and President, Public Cloud at Rackspace Technology (RXT), sold 45,393 shares of common stock on March 2, 2026. The shares were disposed in an open-market/private sale with a reported weighted average price of $1.81 per share, producing proceeds of approximately $82,161. This was a sale (not a purchase) and reflects a routine sell-to-cover transaction to satisfy tax withholding obligations related to vested restricted stock units.
Key Details
- Transaction date: 2026-03-02. Reported weighted average price $1.81; execution prices ranged $1.75–$1.89 (multiple trades).
- Shares sold: 45,393; reported proceeds ≈ $82,161.
- Shares owned after transaction: not disclosed in this Form 4.
- Notable footnotes:
- F1: Sale was a "sell-to-cover" to satisfy tax withholding on vested RSUs.
- F2: Transaction was made pursuant to a Rule 10b5-1 durable sell-to-cover plan adopted Sept 14, 2023.
- F3: Sale executed in multiple trades; weighted average shown; full trade-level details available on request to the SEC, issuer, or a security holder.
- Filing timeliness: Form 4 filed with the same report date (no late filing indicated).
Context
Sell-to-cover transactions are common when restricted stock units vest and do not necessarily signal the insider's view of the company; purchases generally carry more informational weight than routine tax-withholding sales. The use of a 10b5-1 plan means the sales were pre-authorized under a standing instruction, further indicating a routine process rather than ad hoc trading.
Insider Transaction Report
- Sale
Common Stock
[F1][F2][F3]2026-03-02$1.81/sh−45,393$82,161→ 2,464,180 total
Footnotes (3)
- [F1]Reflects the number of shares of common stock that were sold in a "sell to cover" transaction for the sole purpose of satisfying tax withholding obligations in connection with the vesting of restricted stock units previously granted to the reporting person.
- [F2]This transaction was made pursuant to a Rule 10b5-1 trading plan in the form of a durable sell-to-cover instruction adopted by the reporting person on September 14, 2023. The trading plan provides for the automatic sale of shares of common stock necessary to satisfy the reporting person's tax withholding obligations incurred in connection with the vesting or settlement of restricted stock units.
- [F3]This transaction was executed in multiple trades at prices ranging from $1.75 to $1.89. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC, the Issuer or a security holder of the Issuer.