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 related tax withholding.
Summary
- On March 1, 2024, Daniel Gallagher, the Chief Legal Officer of Robinhood Markets, Inc., reported transactions involving Class A Common Stock.
- These transactions included the vesting and settlement of 171,566 Restricted Stock Units (RSUs).
- 82,868 shares were withheld by Robinhood to cover tax obligations related to the RSU vesting.
- Following these transactions, Gallagher directly owns 826,989 shares of Class A Common Stock.
- He also holds 318,288 RSUs from a March 24, 2022 grant, 380,711 RSUs from a September 7, 2022 grant, and 997,341 RSUs from a March 22, 2023 grant.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The vesting of RSUs impacts the total number of outstanding shares, which could have a minor dilutive effect on existing shareholders.
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 |
| 03/01/2024 | Date of reported transactions: vesting and settlement of RSUs |
| 03/05/2024 | Date of Form 4 filing |
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