Form 4: Robinhood's Chief Legal Officer, Daniel Gallagher, Reports Stock Transactions
SEC Form 4 Filing
Daniel Gallagher, Chief Legal Officer of Robinhood Markets, Inc., reports the vesting and sale of Class A Common Stock to cover tax obligations.
Summary
- On October 1, 2024, Daniel Gallagher, the Chief Legal Officer of Robinhood Markets, Inc., had 48,225 Restricted Stock Units (RSUs) vest and convert into Class A Common Stock.
- Gallagher sold 23,293 shares of Class A Common Stock at a price of $23.42 to cover tax withholding obligations related to the vesting of the RSUs.
- Following these transactions, Gallagher directly owns 1,070,000 shares of Class A Common Stock and 96,451 derivative securities.
- The RSUs were granted on March 24, 2022, under Robinhood's 2021 Omnibus Incentive Plan and vest quarterly, subject to continued service.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions by a company insider. It doesn't indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 03/24/2022 | Reporting Person was granted 192,901 RSUs under Robinhood's 2021 Omnibus Incentive Plan |
| 07/01/2024 | One-fourth (1/4) of these RSUs vested |
| 10/01/2024 | Vesting of 48,225 Restricted Stock Units and sale of 23,293 shares for tax obligations |
| 10/02/2024 | Date of Form 4 filing |
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