Orenstein Gregory 4

What Happened

• Gregory Orenstein, CFO & Treasurer of nCino (NCNO), received an award of 274,599 restricted stock units (RSUs) on 2026-05-01 (acquired at $0.00 per unit). He subsequently sold 14,650 shares in an open-market transaction on 2026-05-04 at $18.02 per share, generating proceeds of about $263,920. The sale was reported on a Form 4 filed 2026-05-05.

Key Details

• Award (A): 274,599 RSUs granted on 2026-05-01 at $0.00 (see footnote: vesting schedule).
• Sale (S): 14,650 shares sold on 2026-05-04 at $18.02 — proceeds ≈ $263,920.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 — RSUs vest in 16 equal quarterly installments starting Aug 1, 2026, subject to continued employment. F2 — The shares sold were to cover tax withholding upon RSU vesting and are mandated by the issuer’s equity plan (a “sell to cover”), not a discretionary trade.
• Filing: Form 4 filed 2026-05-05 (reporting period 2026-05-01); no late-filing flag indicated in the provided data.

Context

• RSUs are deferred equity that convert to shares as they vest; the grant itself is not a market purchase. Sales-to-cover are common when RSUs vest and are typically used solely to satisfy withholding taxes — they generally do not signal the insider’s open-market sentiment.