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 July 1, 2024, Daniel Martin Gallagher Jr., the Chief Legal Officer of Robinhood Markets, Inc., had 48,225 restricted stock units (RSUs) vest and settle.
• These RSUs converted into Class A Common Stock on a one-for-one basis.
• Robinhood withheld 23,293 shares to satisfy tax withholding obligations at a price of $22.71 per share.
• Following these transactions, Gallagher directly owns 968,747 shares of Class A Common Stock and 144,676 restricted stock units.
• The RSUs were granted on March 24, 2022, under Robinhood's 2021 Omnibus Incentive Plan and vest quarterly.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a routine disclosure of stock transactions related to executive compensation.

Future Outlook

The remaining RSUs are scheduled to vest in three equal quarterly installments, subject to continued service.

Industry Context

Form 4 filings are standard practice for reporting insider transactions and provide transparency into the trading activities of company executives.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects insider activity related to compensation.

Key Dates