Form 4: Robinhood CEO Vladimir Tenev Executes Stock Sale Under 10b5-1 Plan

Robinhood CEO Vladimir Tenev sold 45,545 shares of Class B Common Stock, which converted to Class A Common Stock, under a pre-arranged 10b5-1 trading plan.

Summary

• On May 29, 2024, Vladimir Tenev, CEO of Robinhood Markets, Inc., sold 45,545 shares of Class B Common Stock.
• The sale was executed under a Rule 10b5-1 trading plan adopted on September 11, 2023.
• The sale resulted in an automatic conversion of the Class B shares into Class A Common Stock.
• The shares were sold at a weighted-average price of $21.1066, with individual trades ranging from $21.10 to $21.13.
• Following the transaction, Tenev directly owns 0 shares of Class A Common Stock and indirectly owns 6,907 shares through a living trust.
• He also owns 50,101,605 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a pre-planned stock sale. It doesn't inherently convey positive or negative sentiment, but the market may interpret the sale based on its own views of the company's prospects.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Sales by executives under 10b5-1 plans are common and allow insiders to sell shares over a period of time while avoiding accusations of insider trading. The market will often scrutinize these sales for signals about management's confidence in the company's future prospects.

Stakeholder Impact

• Shareholders may react to the news of the CEO's stock sale, potentially impacting the stock price.
• The sale itself has a limited direct impact on employees, customers, suppliers, or creditors.

Key Dates