Rubrik Chairman and CEO Bipul Sinha disclosed plans to sell 500,000 Class A shares through a prepaid variable forward contract. The shares are valued at approximately $56.9 million.
The transaction was detailed in Form 4 and Form 144 filings with the SEC. Sinha’s special purpose vehicle (SPV), of which he is the sole equity member, entered into the arrangement with Goldman Sachs & Co.
The SPV is expected to receive a cash payment of about $42.1 million on September 28, 2026. Physical settlement is scheduled for September 26, 2028.
At settlement, up to 500,000 shares or a cash equivalent will be delivered. The amount will depend on the stock’s closing price on September 25, 2028, subject to a floor price of $93.14 and a cap price of $165.58.
The structure allows Sinha to monetize part of his holdings while deferring final settlement.