Marino Mark A. 4
4 · Rackspace Technology, Inc. · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Rackspace (RXT) CFO Mark Marino Sells 14,058 Shares
What Happened Mark A. Marino, Chief Financial Officer of Rackspace Technology, sold 14,058 shares of Rackspace common stock on March 18, 2026. The transaction was an open-market/privately executed sale (weighted average price $1.81) generating proceeds of approximately $25,445. This was a sell-to-cover transaction to satisfy tax withholding related to vested restricted stock units, not an outright investment decision.
Key Details
- Transaction date: March 18, 2026 (Form 4 filed same day — no late filing indicated).
- Transaction type/code: Sale (S) — sell-to-cover for tax withholding.
- Shares sold and price: 14,058 shares at a weighted average price of $1.81; total proceeds ~$25,445. (Executed in multiple trades; detailed per-trade info available on request per the filing.)
- Footnotes: F1 = sale was to cover tax withholding on vested RSUs; F2 = executed under a Rule 10b5-1 sell-to-cover plan adopted Sept 12, 2023; F3 = multiple trades, weighted average price reported.
- Shares owned after transaction: Not disclosed in this Form 4.
Context Sell-to-cover transactions are routine tax-withholding actions when restricted stock units vest and are generally not interpreted as a direct signal of confidence or lack thereof. The use of a pre-established Rule 10b5-1 plan means the disposition was automated according to a plan adopted prior to the sale. Retail investors should treat this as administrative selling rather than an opportunistic trade by the CFO.
Insider Transaction Report
- Sale
Common Stock
[F1][F2][F3]2026-03-18$1.81/sh−14,058$25,445→ 2,158,874 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 disposition 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. 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.