Murphy Robert C. 4

What Happened

• Robert C. Murphy, a reported 10% owner of Snap Inc. (SNAP), disposed of shares in two open-market sales and made two charitable gifts. On Feb 6, 2026 he sold 1,000,000 shares at a weighted average price of $5.27 for proceeds of $5,270,000 and gifted 300,002 shares. On Feb 10, 2026 he sold another 1,000,000 shares at a weighted average price of $5.36 for proceeds of $5,355,800 and gifted 301,451 shares. Total cash proceeds reported: approximately $10,625,800; total gifted shares: 601,453.
• These transactions are sales (not purchases) and typically signal routine liquidity rather than a buy/bullish signal.

Key Details

• Transaction dates/prices:
  • 2026-02-06: Sold 1,000,000 shares @ weighted avg $5.27 (prices ranged $5.195–$5.355 per share) — proceeds $5,270,000 (Rule 10b5-1 plan adopted 11/05/2024).
  • 2026-02-06: Gifted 300,002 shares (charitable gift).
  • 2026-02-10: Sold 1,000,000 shares @ weighted avg $5.36 (prices ranged $5.275–$5.43 per share) — proceeds $5,355,800 (Rule 10b5-1 plan adopted 11/11/2025).
  • 2026-02-10: Gifted 301,451 shares (charitable gift).
• Shares owned after the transactions: not specified in the provided excerpt — see the full Form 4 for post-transaction holdings.
• Footnotes: sales executed under Rule 10b5-1 trading plans (F1, F4); weighted-average prices and price ranges provided (F2, F5); gifts noted as charitable (F3); other footnotes indicate some shares are held in an irrevocable trust or entities where the reporting person retains investment or voting power (F6, F7).
• Filing timeliness: Form filed Feb 10, 2026, reporting trades on Feb 6 and Feb 10 — this meets the standard two-business-day Form 4 filing requirement.

Context

• Gifts are charitable transfers and do not necessarily indicate the insider’s view of the stock. Sales were effected under pre-established 10b5-1 plans, which can cause otherwise scheduled sales independent of current insider sentiment.
• As a 10% owner, Murphy is a principal shareholder rather than an executive role; such owners often sell for portfolio or liquidity reasons.