Kandiah Gajakarnan Vibushanan 4

What Happened

• Kandiah Gajakarnan Vibushanan, Chief Executive Officer of Rackspace Technology (RXT), was granted 200,000 restricted stock units (RSUs) on 2026-04-03 (reported as an award). Each RSU represents the right to one share at settlement. On 2026-06-04, 8,059 shares were withheld by the issuer to satisfy withholding tax liability related to RSU vesting; those withheld shares are reported as a disposition at $5.92 per share (totaling $47,709).
• This is primarily an equity award (acquisition of RSUs) with a routine tax-withholding disposition. Awards are not the same as open-market purchases and do not by themselves indicate a buying opinion.

Key Details

• Award (A): 200,000 RSUs granted on 2026-04-03 (grant reported at $0.00 per share).
• Tax withholding (F): 8,059 shares withheld/disposed on 2026-06-04 at $5.92/share = $47,709.
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Relevant footnotes:
  • F1: RSUs vest quarterly over three years, generally subject to continued employment; each RSU converts to one share at settlement.
  • F2: The 8,059-share disposition represents shares withheld by the issuer to satisfy withholding tax on vested RSUs.
• Timeliness: The Form 4 was filed on 2026-06-04 for an award dated 2026-04-03, which is beyond the usual two-business-day reporting window for insiders (the filing appears late).

Context

• RSUs are a grant of company stock subject to future vesting; the award itself is not an open-market purchase and should be viewed as compensation rather than a direct bullish trade.
• The withholding of shares to cover taxes is a common, administrative step (coded F) and does not necessarily reflect a voluntary sale by the insider.