Form 4: Reddit Director Steven Newhouse Reports Acquisition of Restricted Stock Units

Director Steven Newhouse reported the acquisition of 5,128 restricted stock units of Reddit, Inc. on May 20, 2024.

Summary

• Steven Newhouse, a director of Reddit, Inc., filed a Form 4 on May 22, 2024, reporting changes in beneficial ownership.
• On May 20, 2024, Newhouse acquired 5,128 shares of Class A common stock in the form of restricted stock units (RSUs).
• These RSUs will vest on the earlier of the first anniversary of the grant date or immediately before Reddit's annual meeting of stockholders in 2025, contingent upon continued service.
• Newhouse also indirectly owns 16,182 shares through Advance Magazine Publishers Inc. (AMPI).
• Newhouse disclaims beneficial ownership of the securities owned by AMPI, and the report should not be considered an admission of beneficial ownership for Section 16 purposes.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing. It simply reports a transaction.

Future Outlook

The restricted stock units will vest on the earlier of the first anniversary of the grant date or immediately before the Issuer's annal meeting of stockholders to be held in 2025, subject to the Reporting Person's continued service through such vesting date.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The acquisition of restricted stock units by a director aligns their interests with those of shareholders.

Key Dates