Briers Zachary M 4

What Happened Zachary M. Briers, General Counsel of Snap Inc., reported the sale of a total of 203,325 shares of Snap Class A common stock in two open‑market transactions to cover tax withholding on settled RSUs. On 2026-02-17 he disposed of 134,705 shares at a reported weighted-average price of $4.70 (proceeds ~$633,383), and on 2026-02-18 he disposed of 68,620 shares at a reported weighted-average price of $4.73 (proceeds ~$324,737). Combined proceeds were approximately $958,120. These were sales (not purchases) and appear to be routine tax-withholding transactions.

Key Details

• Transaction dates: 2026-02-17 (134,705 shares) and 2026-02-18 (68,620 shares).
• Reported weighted-average prices: $4.70 (range $4.665–$4.755) and $4.73 (range $4.66–$4.76).
• Total shares sold: 203,325; total proceeds: ~$958,120.
• Purpose: Sales were to satisfy tax withholding obligations related to RSU settlement (footnote F1).
• Trading plan: Transactions effected pursuant to a Rule 10b5‑1 plan adopted Nov 17, 2025 (footnote F3).
• Shares owned after the transactions: Not disclosed in the information provided in this summary.
• Filing: Form 4 filed 2026-02-19 for transactions on 2026-02-17 and 2026-02-18 — appears to be timely.

Context These sales were made to cover tax withholding on settled restricted stock units (each RSU equals a contingent right to one share) and were executed under a pre-established 10b5‑1 plan. Such “sell to cover” transactions are common when RSUs vest and do not necessarily indicate a change in the insider’s view of the company.