Form 4: Robinhood Executive Steven M. Quirk Reports Stock Transactions
SEC Form 4 Filing
Steven M. Quirk, Chief Brokerage Officer of Robinhood Markets, Inc., reports the vesting and settlement of restricted stock units and associated tax withholding.
Summary
- On February 1, 2025, Steven M. Quirk, Chief Brokerage Officer of Robinhood Markets, Inc., reported transactions involving Class A Common Stock.
- 43,403 Restricted Stock Units (RSUs) vested and were settled, converting into Class A Common Stock on a one-for-one basis.
- Robinhood withheld 16,471 shares to satisfy tax withholding obligations related to the RSU vesting at a price of $51.95 per share.
- Following these transactions, Quirk directly owns 422,098 shares of Class A Common Stock and 173,611 Restricted Stock Units.
- The RSUs were granted on March 24, 2022, under Robinhood's 2021 Omnibus Incentive Plan and vest quarterly.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment about the company's performance or future prospects.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which is crucial for maintaining market integrity and investor confidence. These filings are closely monitored by investors to gauge management's sentiment and confidence in the company's prospects.
Comparison to Industry Standards
- Form 4 filings are a regulatory requirement for all publicly traded companies in the United States, ensuring transparency in insider trading activities.
- Companies like Charles Schwab, Interactive Brokers, and eToro also have executives who are required to file similar reports when they trade in their company's stock.
- The specifics of RSU grants and vesting schedules vary widely across companies and are typically detailed in their respective equity compensation plans.
Stakeholder Impact
- Shareholders may monitor these filings to understand executive compensation and alignment of interests.
- The transactions have a minor impact on the overall shareholding structure of the company.
Key Dates
| Date | Description |
|---|---|
| 2022/03/24 | Reporting Person was granted 694,444 RSUs under Robinhood's 2021 Omnibus Incentive Plan |
| 2022/05/01 | One-sixteenth (1/16) of these RSUs vested |
| 2025/02/01 | Date of transaction: Vesting and settlement of 43,403 Restricted Stock Units (RSUs) |
| 2025/02/04 | Date of signature for the Form 4 filing |
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.