Rishel Jeremy 4
4 · SoFi Technologies, Inc. · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
SoFi (SOFI) CTO Jeremy Rishel Exercises RSUs and Sells Shares
What Happened
Jeremy Rishel, Chief Technology Officer of SoFi Technologies (SOFI), had 300,500 restricted stock units (RSUs) settle in mid‑March 2026 and disposed of shares to cover taxes and via an open‑market sale. On 2026-03-17, 160,500 shares were sold to satisfy tax withholding at $17.62 per share (proceeds $2,827,529). On 2026-03-18, 94,958 shares were sold in the open market at $17.43 per share under a trading plan (proceeds $1,655,118). Total reported proceeds from the dispositions are about $4.48 million. The RSU settlements themselves show no cash purchase price.
Key Details
- Transaction dates and prices:
- 2026-03-16: 300,500 RSUs settled (271,752 + 28,748) into common shares (no exercise price). (Footnotes F1, F4, F5)
- 2026-03-17: 160,500 shares sold to satisfy tax withholding at $17.62 (proceeds $2,827,529). (Code F; Footnote F2)
- 2026-03-18: 94,958 shares sold in open market at $17.43 (proceeds $1,655,118) under a Rule 10b5-1 plan. (Code S; Footnote F3)
- Aggregate proceeds reported: ≈ $4.48 million.
- Shares owned after the transactions: not disclosed on the Form 4.
- Notable footnotes: F1 = RSUs convert to one share each; F2 = shares sold to cover tax withholding (these shares were not issued to the reporting person); F3 = open‑market sale executed under a 10b5‑1 trading plan; F4/F5 = settlements of previously granted RSUs.
- Filing timeliness: Form 4 filed 2026-03-18 for actions dated 2026-03-16 to 2026-03-18 — appears to be filed within normal reporting timeframe.
Context
- The filings reflect RSU settlements (conversion of awards into shares) followed by sales: one sale to cover tax withholding (cashless/tax‑withholding disposition) and one open‑market sale under a pre-established 10b5‑1 plan. Such tax‑withholding sales and 10b5‑1 plan sales are common and typically routine, but they do result in material proceeds.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-16+271,752→ 1,066,349.972 total - Exercise/Conversion
Common Stock
[F1]2026-03-16+28,748→ 1,095,097.972 total - Tax Payment
Common Stock
[F2]2026-03-17$17.62/sh−160,500$2,827,529→ 934,597.972 total - Sale
Common Stock
[F3]2026-03-18$17.43/sh−94,958$1,655,118→ 839,639.972 total - Exercise/Conversion
Restricted Stock Unit
[F1][F4]2026-03-16−271,752→ 536,698 total→ Common Stock (271,752 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F5]2026-03-16−28,748→ 244,362 total→ Common Stock (28,748 underlying)
Footnotes (5)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock upon settlement for no consideration.
- [F2]Shares sold to satisfy tax withholding obligation applicable to the vesting of stock-settled RSUs. These shares were not issued to the Reporting Person.
- [F3]The sale reported on this Form 4 was completed pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person on June 2, 2025.
- [F4]Represents the settlement of a portion of the RSUs granted to the Reporting Person as disclosed on the Reporting Person's Forms 4 filed on July 20, 2022 and March 13, 2024.
- [F5]Represents the settlement of a portion of the RSUs granted to the Reporting Person as disclosed on the Reporting Person's Form 4 filed on March 13, 2025.