Desmond Sean 4

What Happened
Desmond Sean, CEO, President and Director of nCino, executed option exercises and an open-market sale on April 6, 2026. He exercised options to acquire 8,065 shares at $4.98 per share (total cost $40,164). On the same day he sold 15,440 shares in an open-market transaction at $17.06 per share, generating proceeds of $263,406. The filing also shows a related disposition of 8,065 shares listed at $0 (reported as a derivative disposition).

Key Details

• Transaction date: 2026-04-06 (reported on Form 4 filed 2026-04-08) — filing appears timely (Form 4 filed within two business days).
• Sale: 15,440 shares @ $17.06 = $263,406 (open-market sale).
• Exercise: 8,065 shares @ $4.98 = $40,164 (option exercise).
• Derivative disposition: 8,065 shares @ $0 (reported as a disposition tied to the option exercise).
• Footnotes: F1 — transactions effected pursuant to a Rule 10b5-1 trading plan adopted Jan 6, 2026; F2 — the option exercised is currently exercisable.
• Shares owned after transaction: Not specified in the provided filing details.

Context
Because the exercise and sale occurred the same day and the transactions were executed under a 10b5-1 plan, this looks like a pre-arranged trading plan rather than an ad-hoc trade based on contemporaneous company information. The zero-dollar derivative line typically reflects shares delivered in connection with the option exercise (for example, surrendered or used to satisfy requirements), but the filing itself only reports the mechanics — it does not state the insider’s motive. Purchases generally signal bullish insider conviction more clearly; this filing documents an option exercise and a sale.