Rackspace Technology CFO Marino sells $151,550 in RXT stock

Mark A. Marino, Chief Financial Officer of Rackspace Technology, Inc. (NASDAQ:RXT), sold 51,373 shares of the company’s common stock on September 2, 2026. The transactions totaled approximately $151,550.

The shares were sold at a weighted average price of $2.95 per share. The sales were executed in multiple trades with prices ranging from $2.88 to $3.01. These transactions were identified as "sell to cover" sales, intended solely to satisfy tax withholding obligations related to the vesting of previously granted restricted stock units. The sale comes as the stock trades near $3.01, down nearly 11% over the past week despite posting a remarkable 210% year-to-date return. The sales were conducted under a Rule 10b5-1 trading plan, which Mr. Marino adopted on September 12, 2023. This plan provides for the automatic sale of shares to meet tax withholding obligations from vested restricted stock units.

Following these transactions, Mr. Marino beneficially owns 2,865,853 shares of Rackspace Technology common stock. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value. For deeper insights into RXT’s valuation and financial health, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities.

In other recent news, Rackspace Technology reported financial results for the second quarter of 2026 that fell short of Wall Street expectations. The company posted an adjusted earnings loss of $0.0902 per share, which was wider than the anticipated loss of $0.0495 per share. Revenue for the quarter reached $646 million, slightly below the forecasted $653.43 million. Despite these misses, Rackspace’s stock experienced a notable rise as investors seemed to focus on the company’s strategic shift towards enterprise artificial intelligence infrastructure. These developments highlight Rackspace’s ongoing efforts to integrate AI into its services, a move that appears to be gaining investor attention.