Form 4: Steven O. Newhouse Reports Reddit Holdings After IPO

Director Steven O. Newhouse reports ownership of Reddit shares and convertible preferred stock following the company's initial public offering.

Summary

• Steven O. Newhouse, a director of Reddit, Inc., filed a Form 4 on March 27, 2024, reporting transactions related to the company's initial public offering.
• The report details the conversion of preferred stock into Class A and Class B common stock.
• Newhouse's holdings include an indirect interest in 16,182 shares of Class A common stock and 42,191,092 shares of Class B common stock through Advance Magazine Publishers Inc. (AMPI).
• The Class B common stock is convertible into Class A common stock on a one-for-one basis, with certain restrictions on transfer and automatic conversion if Class B shares fall below 7.5% of total outstanding shares.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

This filing is a standard procedure following an IPO, as insiders are required to report their holdings and transactions.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company after the IPO.

Key Dates