Form 4: Robinhood's Chief Legal Officer Reports Stock Transactions
SEC Form 4
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 March 1, 2025, Daniel Martin Gallagher Jr., Chief Legal Officer of Robinhood Markets, Inc., reported transactions involving Class A Common Stock.
- These transactions included the vesting and settlement of 119,839 Restricted Stock Units (RSUs) and the withholding of 57,883 shares to cover tax obligations at a price of $50.1 per share.
- The vesting of RSUs stemmed from grants made on March 24, 2022 (462,963 RSUs), March 22, 2023 (1,063,830 RSUs), and March 20, 2024 (390,625 RSUs) under Robinhood's 2021 Omnibus Incentive Plan.
- Following these transactions, Gallagher directly owns 847,893 shares of Class A Common Stock and holds 930,625 Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions by an executive, with no inherent positive or negative implications for the company's performance.
Future Outlook
The remaining RSUs from the 2022, 2023, and 2024 grants are scheduled to vest in equal quarterly installments, subject to continued service and potential accelerated vesting.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive compensation packages including RSUs are standard practice among publicly listed technology companies such as Robinhood.
- The vesting schedules described are typical, often tied to continued employment and performance milestones, similar to those seen at companies like Coinbase, Block, and PayPal.
- Tax withholding practices related to RSU vesting are also standard, ensuring compliance with tax regulations, as seen across the industry.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard compensation practices for executives.
- Employees may be interested in the vesting schedules and equity compensation plans.
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 |
| 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 | One-sixteenth (1/16) of the 390,625 RSUs vested |
| 03/01/2025 | Date of earliest transaction: Vesting and settlement of RSUs, tax withholding |
| 03/04/2025 | Date of Form 4 filing |
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