Rubrik (RBRK) CTO Nithrakashyap Arvind Sells Shares

What Happened
Nithrakashyap Arvind, Rubrik’s Chief Technology Officer and a director, converted Class B shares into Class A (derivative conversion) and sold a total of 38,460 shares in open‑market transactions across Sept 8–10, 2026. The sales generated approximately $3.49 million in proceeds (about $87.55–$92.87 per share depending on the lots and weighted averages reported). Each day he converted 12,820 shares (reported as $0.00 conversion) and sold the same number of shares the same day.

Key Details

• Transaction dates: Sept 8–10, 2026. Each day: conversion of 12,820 shares and sale of 12,820 shares (total sold = 38,460).
• Gross proceeds: roughly $3,489,619 across the three days. Per‑lot prices ranged from about $87.55 to $92.87; several entries report weighted average prices and price ranges in footnotes.
• Derivative conversion: reported as conversion of derivative securities at $0.00 (see footnote F14 — Class B converts to Class A). In effect, converted shares were sold on the market.
• Plan/authorization: Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted Oct 15, 2025 (footnote F1).
• Record/ownership note: Some shares are held of record by a revocable trust for which the reporting person is trustee (footnote F15).
• Filing timeliness: Report filed Sept 10, 2026 for transactions through Sept 10 — appears timely in this filing (no late‑filing flag reported).
• Shares owned after transaction: Not specified in the information provided in your summary.

Context
These transactions reflect conversions of insider (Class B) shares into tradable Class A shares followed by immediate sales, executed under a prearranged 10b5‑1 plan. Conversions recorded at $0.00 are not purchases of new economic interest but administrative conversions (see F14). Sales under 10b5‑1 plans are typically preplanned and do not necessarily indicate a change in the insider’s view of the company; retail investors often pay closer attention to open‑market purchases as a stronger signal of conviction.