Form 4: Robinhood Executive Steven M. Quirk Reports Stock Transactions
SEC Form 4 Filing
Chief Brokerage Officer Steven M. Quirk reports the vesting and subsequent tax withholding of Robinhood Class A Common Stock.
Summary
- Steven M. Quirk, Chief Brokerage Officer of Robinhood Markets, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On March 1, 2025, Quirk vested 44,834 shares of Class A Common Stock from Restricted Stock Units (RSUs).
- Robinhood withheld 19,863 shares to satisfy tax obligations at a price of $50.1 per share.
- Following these transactions, Quirk directly owns 323,797 shares of Class A Common Stock.
- He also holds 223,965 RSUs from a grant on March 22, 2023, and 202,048 RSUs from a grant on March 20, 2024.
- These RSUs vest quarterly, subject to continued service.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing primarily reflects routine stock vesting and tax obligations. It doesn't indicate significant positive or negative developments.
Positives
- The vesting of RSUs indicates continued employment and contribution by a key executive.
Future Outlook
The remaining RSUs are scheduled to vest in equal quarterly installments, subject to continued service.
Industry Context
Executive stock transactions are common and closely monitored in the financial industry as they can provide insights into management's confidence in the company's future performance.
Comparison to Industry Standards
- Executive compensation packages, including RSUs, are standard practice among publicly traded companies like Robinhood.
- The vesting schedules and tax withholding practices are typical and align with industry norms.
- Comparing Quirk's holdings and transactions to those of executives at similar fintech companies (e.g., Coinbase, Block) could provide a benchmark for assessing the magnitude of his stake and activity.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously granted equity.
- Employees may view the vesting as a positive sign of the company's commitment to its executives.
Key Dates
| Date | Description |
|---|---|
| 03/22/2023 | Reporting Person was granted 447,929 RSUs under Robinhood's 2021 Omnibus Incentive Plan |
| 06/01/2023 | One-sixteenth (1/16) of the 447,929 RSUs vested |
| 03/20/2024 | Reporting Person was granted 269,397 RSUs under the 2021 Plan |
| 06/01/2024 | One-sixteenth (1/16) of the 269,397 RSUs vested |
| 03/01/2025 | Vesting of 44,834 Class A Common Stock shares from RSUs; tax withholding of 19,863 shares. |
| 03/04/2025 | Date of Form 4 filing. |
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