Malka Meyer 4/A
4/A · Robinhood Markets, Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Robinhood (HOOD) Director Malka Meyer Sells ~1.17M Shares
What Happened
- Malka Meyer, a director of Robinhood Markets (HOOD), reported multiple open-market dispositions on August 27–28, 2025 totaling 1,173,808 shares sold for aggregate proceeds of about $121.94 million. Reported trades:
- Aug 27, 2025: 80,520 shares at $104.03 — $8,376,544
- Aug 28, 2025: 554,108 shares at $103.42 — $57,305,517
- Aug 28, 2025: 539,180 shares at $104.33 — $56,255,291
- The filing also reports two derivative-related entries (30,000 and 30,000 units) dated Aug 27, 2025 that show N/A pricing; footnotes explain these relate to a collar hedging arrangement (see Key Details). The Form 4 is amended to correct a typographical error: an item originally shown as a disposition was actually the acquisition of a put option.
Key Details
- Dates/prices: Aug 27–28, 2025; sale price range shown in footnotes ranged roughly $103.00–$104.94 across multiple executions (weighted averages reported per line).
- Proceeds: Approximately $121.94 million from the three reported share sales (individual line totals above).
- Shares held after transactions (per filing): each Aphrodite Trust — 325,411 shares; Malka Kleiner Revocable Trust — 3,000,000 shares; Tibbir Trust — 1 share. The reporting person disclaims beneficial ownership of certain trust-held shares per footnotes.
- Derivative detail: footnote F8 describes a collar entered Aug 27, 2025 — purchase of 30,000 FLEX put contracts (strike $100) and sale of 30,000 FLEX call contracts (strike $150), physically settled, expiring Dec 31, 2027. Those option actions are separate from the share sales.
- Amended/late filing: This is an AMENDED Form 4 filed 2026-07-02 to correct the reporting of a derivative item. The original report shows a significant delay from the Aug 2025 transaction dates (this Form 4 was filed ~10 months later), which may be noted by regulators and investors.
Context
- These are primarily sales (routine dispositions by trusts and related parties) plus a hedging collar — sales do not necessarily indicate a change in company outlook. The collar (buy puts / sell calls) is a hedging strategy that can protect downside while capping upside through the call sale.
- Several sales were executed by trusts (Aphrodite Trusts, Malka Trust) per footnotes; the reporter disclaims beneficial ownership of some trust-held shares except to the extent of any pecuniary interest.
Insider Transaction Report
Form 4/AAmended
Malka Meyer
Director
Transactions
- Sale
Class A Common Stock
[F1][F2]2025-08-27$104.03/sh−80,520$8,376,544→ 5,069,522 total(indirect: By Trust) - Sale
Class A Common Stock
[F3][F2]2025-08-28$103.42/sh−554,108$57,305,517→ 4,515,414 total(indirect: By Trust) - Sale
Class A Common Stock
[F4][F2]2025-08-28$104.33/sh−539,180$56,255,291→ 3,976,234 total(indirect: By Trust) - SaleSwap
Put option (right to sell)
[F8][F7]2025-08-27−30,000→ 30,000 total(indirect: By Fund)Exercise: $100.00→ Class A Common Stock (30,000 underlying) - SaleSwap
Call option (obligation to sell)
[F8][F7]2025-08-27−30,000→ 30,000 total(indirect: By Fund)Exercise: $150.00→ Class A Common Stock (30,000 underlying)
Holdings
- 7,010
Class A Common Stock
[F5] - 102,183(indirect: By LLC)
Class A Common Stock
[F6] - 3,235,585(indirect: By Fund)
Class A Common Stock
[F7]
Footnotes (8)
- [F1]Represents 26,840 shares of Class A Common Stock ("Shares") of Robinhood Markets, Inc. ("Issuer") sold by each of the Aphrodite EM Trust, the Aphrodite MM Trust and the Aphrodite SM Trust (collectively, the "Aphrodite Trusts"). The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $104.00 to $104.51, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
- [F2]Following the transactions reported in this Form 4, (i) 325,411 shares are held by each of the Aphrodite Trusts, (ii) 3,000,000 shares are held directly by the Malka Kleiner Revocable Trust dated July 16, 2012 (the "Malka Trust") and (iii) one share is held directly by the Tibbir Trust. The Reporting Person serves as trustee of the Malka Trust, and the Reporting Person's immediate family member serves as trustee of the Tibbir Trust and each of the Aphrodite Trusts. The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16 of the Securities Exchange Act of 1934 ("Section 16") except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose.
- [F3]Represents (i) 69,000 Shares sold by each of the Aphrodite Trusts and (ii) 347,108 Shares sold by the Malka Trust. The price reported in Column 4 is a weighted average price. The Shares were sold in multiple transactions at prices ranging from $103.00 to $103.995, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
- [F4]Represents 539,180 Shares sold by the Malka Trust. The price reported in Column 4 is a weighted average price. The Shares were sold in multiple transactions at prices ranging from $104.00 to $104.94, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
- [F5]The Reporting Person is the founder and managing partner of the Ribbit family of funds, and is contractually obligated to transfer and/or remit the proceeds of any sale of shares issued pursuant to stock awards or upon vesting and settlement of restricted stock units to certain entities affiliated with such funds. The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16 except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose.
- [F6]Shares held by Tibbir Holdings LLC, of which the Reporting Person serves as investment manager. The Reporting Person disclaims beneficial ownership of such Shares for purposes of Section 16 except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose.
- [F7]Shares held by Bullfrog Capital, L.P. ("Bullfrog"), for itself and as nominee for Bullfrog Founder Fund, L.P. ("Bullfrog FF"). Bullfrog Capital GP, L.P. ("BF GP") is the general partner of Bullfrog and Bullfrog FF, and Bullfrog Capital GP, Ltd. ("BF UGP") is the general partner of BF GP. The Reporting Person is a director of BF UGP and disclaims beneficial ownership of such shares for purposes of Section 16 except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose.
- [F8]On August 27, 2025, Bullfrog executed a collar hedging arrangement relating to the Shares through a broker-dealer on the Chicago Board Options Exchange. The collar arrangement consisted of Bullfrog (i) purchasing 30,000 European-style listed FLEX put option contracts on the Shares with a strike price equal to $100.00 and (ii) selling 30,000 European-style listed FLEX call option contracts on the Shares with a strike price equal to $150.00. The option contracts will be physically settled and will expire on December 31, 2027.
Signature
/s/ Meyer Malka|2026-07-02