Form 4: Robinhood's Chief Legal Officer Reports Stock Transactions

Daniel Martin Gallagher Jr., Chief Legal Officer of Robinhood Markets, Inc., reports the vesting and settlement of restricted stock units and associated tax withholding.

Summary

• On January 1, 2025, Daniel Martin Gallagher Jr., Chief Legal Officer of Robinhood Markets, Inc., reported transactions involving Class A Common Stock.
• 48,225 Restricted Stock Units (RSUs) vested and were converted into Class A Common Stock on a one-for-one basis.
• Robinhood withheld 23,538 shares to satisfy tax withholding obligations at a price of $37.26 per share.
• Following these transactions, Gallagher directly owns 831,642 shares of Class A Common Stock and 48,226 derivative securities.
• The RSUs were granted on March 24, 2022, under Robinhood's 2021 Omnibus Incentive Plan and vest quarterly.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing reflecting standard compensation practices; it doesn't inherently indicate positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It's a common practice for executives to receive stock-based compensation, and the vesting and subsequent tax withholding are standard procedures.

Comparison to Industry Standards

• Form 4 filings are standard practice across publicly traded companies, including competitors like Charles Schwab (SCHW) and Interactive Brokers (IBKR).
• The vesting schedule of RSUs (quarterly installments after an initial vesting) is a common compensation structure.
• Tax withholding practices are consistent across companies to comply with IRS regulations.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects the standard compensation practices for company executives.
• Employees may be interested in the vesting schedule of RSUs as it relates to their own compensation packages.

Key Dates