Form 4: Robinhood CFO Jason Warnick Reports Stock Transactions
SEC Form 4
Jason Warnick, CFO of Robinhood Markets, Inc., reports the vesting and settlement of restricted stock units and shares withheld for tax obligations.
Summary
- On October 1, 2024, Jason Warnick, the CFO of Robinhood Markets, Inc., reported transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
- Warnick acquired 60,483 shares of Class A Common Stock through the vesting of RSUs.
- 24,525 shares were withheld by Robinhood to cover tax obligations related to the RSU vesting at a price of $23.42 per share.
- Warnick's direct ownership following these transactions is 1,187,032 shares of Class A Common Stock.
- The transactions also involved the vesting of 20,161 and 40,322 RSUs, which convert into Class A Common Stock on a one-for-one basis.
- These RSUs were granted on December 9, 2020, under the Robinhood 2020 Equity Incentive Plan and vest in quarterly installments.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Positives
- The vesting of RSUs indicates that Warnick is meeting the service requirements of the equity incentive plan.
Negatives
- The withholding of shares to cover tax obligations reduces the net increase in Warnick's holdings.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and aligns their interests with those of shareholders.
Comparison to Industry Standards
- Executive compensation packages often include RSUs as a way to incentivize performance and retain key personnel.
- The vesting schedules and tax withholding practices are standard across the industry.
- Similar filings are made by executives at comparable companies like Coinbase, Block, and PayPal.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the executive's compensation and alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 2020-12-09 | Reporting Person was granted 322,580 RSUs under the Robinhood 2020 Equity Incentive Plan |
| 2021-04-01 | One-sixteenth (1/16) of these RSUs vested |
| 2023-04-01 | One-eighth (1/8) of these RSUs vested |
| 2024-10-01 | Date of transaction: vesting of RSUs and withholding of shares for taxes |
| 2024-10-02 | Date of signature |
| 2027-12-09 | Expiration date of Restricted Stock Units |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.