nCino CEO and President Sean Desmond sold 40,490 shares of common stock on August 4 and August 5 at a weighted average price of $19.31 per share, for a total value of approximately $781,862. The transaction was non-discretionary, executed under a Rule 10b5-1 trading plan adopted on January 6 to satisfy tax withholding obligations tied to the vesting of restricted stock units. Following the sale, Desmond retains direct ownership of roughly 1.2 million shares, a position valued at about $23.67 million based on the August 5 closing price of $19.23, and also holds 180,292 derivative securities including vested and unvested stock options. The sale represented 3% of his direct equity holdings, and the company noted that the business has been outperforming its own guidance, with fiscal first-quarter revenue rising 11% to $159 million and full-year outlook raised on strong adoption of AI banking tools, even as the stock has declined 30% over the past year.
nCino IncCEO sold shares under 10b5-1 plan to cover taxes, a routine insider sale.
