Marino Mark A. 4
4 · Rackspace Technology, Inc. · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Rackspace (RXT) CFO Mark Marino Sells 20,183 Shares
What Happened
Mark A. Marino, Chief Financial Officer of Rackspace Technology, sold 20,183 shares of Rackspace common stock on March 2, 2026. The transaction was a sale (sell-to-cover) with a weighted average sale price of $1.81 per share, resulting in total proceeds of about $36,531. This sale was to satisfy tax withholding obligations related to vested restricted stock units, not an open-market investment decision.
Key Details
- Transaction date: 2026-03-02. Reported as an open-market/private sale (code S).
- Price: Weighted average $1.81; executed in multiple trades at prices ranging $1.75–$1.89 (reporting person can provide exact breakdown on request). (Footnote F3)
- Purpose: Sell-to-cover to satisfy tax withholding on vested RSUs (Footnote F1).
- Trading plan: Executed pursuant to a Rule 10b5-1 durable sell-to-cover plan adopted September 12, 2023 (Footnote F2).
- Shares owned after transaction: Not specified in the provided filing.
- Filing timeliness: Reported on 2026-03-02 (no late filing indicated).
Context
Sell-to-cover transactions arise when restricted stock units vest and shares are sold automatically to cover taxes; they are typically routine and do not necessarily signal the insider's view of the company's near-term prospects. The presence of a Rule 10b5-1 plan indicates the sales were preplanned and automatic.
Insider Transaction Report
- Sale
Common Stock
[F1][F2][F3]2026-03-02$1.81/sh−20,183$36,531→ 2,172,932 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 12, 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.