Form 4: Robinhood Executive Steven Quirk Reports Stock Transactions
SEC Form 4 Filing
Steven M. Quirk, Chief Brokerage Officer at Robinhood Markets, Inc., reports the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- On May 1, 2025, Steven M. Quirk, Chief Brokerage Officer of Robinhood Markets, Inc., had 43,402 Restricted Stock Units (RSUs) vest and convert into Class A Common Stock.
- Robinhood withheld 19,228 shares to satisfy tax withholding obligations at a price of $49.11 per share.
- Following these transactions, Quirk directly owns 333,692 shares of Class A Common Stock and 130,209 RSUs.
- The RSUs were granted on March 24, 2022, under Robinhood's 2021 Omnibus Incentive Plan and vest in installments, subject to continued service.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices; it doesn't inherently indicate positive or negative sentiment.
Future Outlook
The remaining RSUs are scheduled to vest in fifteen equal quarterly installments, contingent upon continued service.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Comparison to Industry Standards
- Form 4 filings are a regulatory requirement for publicly traded companies in the US, ensuring transparency in insider trading.
- Companies like Charles Schwab, Interactive Brokers, and eToro also have executives who file similar forms when they trade their company's stock.
- The vesting schedule of RSUs is a common compensation practice in the tech and finance industries, designed to incentivize long-term employment.
Stakeholder Impact
- Shareholders can monitor insider transactions for insights into management's perspective on the company's stock.
- The vesting of RSUs incentivizes the executive to remain with the company, potentially benefiting the company's performance.
Key Dates
| Date | Description |
|---|---|
| March 24, 2022 | Reporting Person was granted 694,444 RSUs under Robinhood's 2021 Omnibus Incentive Plan |
| May 1, 2022 | One-sixteenth (1/16) of these RSUs vested |
| May 1, 2025 | Transaction Date: 43,402 RSUs vested and converted to Class A Common Stock; tax withholding occurred. |
| May 5, 2025 | Date of Form 4 filing. |
Keywords
Form 4, Robinhood, Steven Quirk, RSUs, Stock Options, Beneficial Ownership, Insider Trading
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