Rackspace (RXT) CFO Mark Marino Sells 51,373 Shares

What Happened

• Mark A. Marino, Chief Financial Officer of Rackspace Technology, sold 51,373 shares on 2026-09-02. The transaction was reported as a sale with a weighted average price of $2.95 per share, totaling approximately $151,550.
• This sale was a "sell-to-cover" to satisfy tax withholding obligations arising from the vesting/settlement of previously granted restricted stock units (RSUs), not a discretionary open-market sell for investment purposes.

Key Details

• Transaction date: 2026-09-02. Reported as an open-market/private sale (S).
• Price: weighted average $2.95; trade prices ranged from $2.88 to $3.01 (executed in multiple trades).
• Total proceeds (weighted): ~$151,550.
• Shares sold for tax withholding on vested RSUs (footnote F1); executed under a Rule 10b5-1 sell-to-cover plan adopted 2023-09-12 (footnote F2). The filer offers to provide full trade-level details on request (footnote F3).
• Shares owned after the transaction: not specified in the provided filing excerpt — see the full Form 4 for current beneficial ownership.
• Filing: Report filed 2026-09-02 with period of report 2026-09-02; no late filing indicated in the provided data.

Context

• Sell-to-cover transactions are commonly used to satisfy tax obligations on vested equity awards and do not necessarily indicate the insider’s view of the company’s outlook. The presence of a Rule 10b5-1 plan indicates the sales were pre-authorized under a durable instruction.