Form 4: Robinhood CFO Jason Warnick Reports Stock Transactions
SEC Form 4 Filing
Jason Warnick, CFO of Robinhood Markets, Inc., reports the vesting and settlement of restricted stock units (RSUs) and shares withheld for tax obligations.
Summary
- On September 1, 2024, Jason Warnick, the CFO of Robinhood Markets, Inc., reported transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
- A total of 123,831 shares were acquired through the vesting of RSUs.
- 49,919 shares were withheld by Robinhood to cover tax obligations related to the RSU vesting at a price of $20.12 per share.
- The transactions resulted in a decrease in the number of RSUs held and an increase in the number of Class A Common Stock shares directly owned by Warnick.
- Warnick still holds 1,151,074 shares of Class A Common Stock and a total of 1,016,816 RSUs after the reported transactions.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Tracking insider transactions is a common practice in financial analysis to gauge management's sentiment and confidence in the company's prospects.
- Comparing the vesting schedules and equity grants to those of peer companies like Coinbase or Block can provide insights into Robinhood's compensation practices.
Stakeholder Impact
- The transactions have a minor impact on shareholders, reflecting routine compensation practices.
- Employees holding RSUs are affected by the vesting schedule and associated tax implications.
Key Dates
| Date | Description |
|---|---|
| March 24, 2022 | Reporting Person was granted 385,802 RSUs under Robinhood's 2021 Omnibus Incentive Plan |
| June 1, 2022 | One-sixteenth (1/16) of the 385,802 RSUs vested |
| March 22, 2023 | Reporting Person was granted 783,875 RSUs under the 2021 Plan. |
| March 22, 2023 | Reporting Person was granted 223,965 RSUs under the 2021 Plan. |
| June 1, 2023 | One-sixteenth (1/16) of the 783,875 RSUs vested. |
| June 1, 2023 | One-eighth (1/8) of the 223,965 RSUs vested. |
| March 20, 2024 | Reporting Person was granted 363,686 RSUs under the 2021 Plan. |
| June 1, 2024 | One-sixteenth (1/16) of the 363,686 RSUs vested. |
| September 1, 2024 | Date of earliest transaction: vesting and settlement of RSUs, and tax withholding. |
| September 4, 2024 | Date of signature on the Form 4 filing. |
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