Form 4: Robinhood's Chief Legal Officer, Daniel Gallagher, Reports Stock Transactions
SEC Form 4
Daniel Gallagher, Chief Legal Officer of Robinhood Markets, Inc., reports the vesting and settlement of restricted stock units (RSUs) and associated tax withholding.
Summary
- On June 1, 2024, Daniel Gallagher, the Chief Legal Officer of Robinhood Markets, Inc., reported transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
- A total of 195,980 shares were acquired through the vesting of RSUs.
- 94,660 shares were withheld by Robinhood to cover tax obligations related to the vesting of these RSUs at a price of $20.9 per share.
- Gallagher still directly owns 956,315 shares of Class A Common Stock after the reported transactions.
- The transactions involved the vesting of RSUs granted on March 24, 2022 (28,935 RSUs), September 7, 2022 (76,142 RSUs), March 22, 2023 (66,489 RSUs), and March 20, 2024 (24,414 RSUs) under Robinhood's 2021 Omnibus Incentive Plan.
- Following the transactions, Gallagher directly owns 202,547, 76,143, 731,384 and 366,211 Restricted Stock Units respectively.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions by a company officer. It doesn't inherently indicate positive or negative sentiment, but rather provides transparency into insider activity.
Industry Context
Form 4 filings are standard practice for company insiders and officers, providing transparency into their stock transactions and holdings. This filing indicates routine vesting of previously granted stock awards.
Stakeholder Impact
- Shareholders may be interested in tracking insider transactions as an indicator of management's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 03/24/2022 | Reporting Person was granted 462,963 RSUs under Robinhood's 2021 Omnibus Incentive Plan |
| 06/01/2022 | One-sixteenth (1/16) of the 462,963 RSUs vested |
| 09/07/2022 | Reporting Person was granted 609,137 RSUs under the 2021 Plan |
| 12/01/2022 | One-eighth (1/8) of the 609,137 RSUs vested |
| 03/22/2023 | Reporting Person was granted 1,063,830 RSUs under the 2021 Plan |
| 06/01/2023 | One-sixteenth (1/16) of the 1,063,830 RSUs vested |
| 03/20/2024 | Reporting Person was granted 390,625 RSUs under the 2021 Plan |
| 06/01/2024 | Transactions occurred involving Class A Common Stock and Restricted Stock Units (RSUs) |
| 06/04/2024 | Date of signature for the Form 4 filing |
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