Form 4: Reddit's Chief Legal Officer Sells Shares to Cover Tax Obligations and Under Pre-arranged Trading Plan

Reddit's Chief Legal Officer, Benjamin Seong Lee, sold shares of Class A Common Stock to cover tax obligations and under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 20, 2025, Reddit's Chief Legal Officer, Benjamin Seong Lee, had 8,870 shares of Class A Common Stock withheld by the company to satisfy tax obligations at a price of $107.99 per share.
• From May 22, 2025, Lee sold a total of 6,854 shares of Class A Common Stock under a Rule 10b5-1 trading plan.
• These sales were executed in multiple trades at varying prices, ranging from $96.02 to $100.12 per share.
• Following these transactions, Lee directly owns 99,277 shares of Reddit's Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports routine stock sales by an executive. The use of a 10b5-1 plan suggests the transactions were pre-planned and not indicative of any specific positive or negative outlook.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives of publicly traded companies. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small volume of shares sold compared to the total outstanding shares.

Key Dates

Keywords

Form 4, Reddit, RDDT, Benjamin Seong Lee, Chief Legal Officer, Stock Sale, Rule 10b5-1, Insider Trading