RUBINSTEIN JONATHAN 4

What Happened

• Jonathan Rubinstein, a director of Robinhood Markets, received 422 shares of Class A common stock on March 31, 2026 as director compensation (awarded in lieu of cash). The grant was valued at $69.30 per share (total value $29,244.60) and was fully vested upon grant.
• On April 1, 2026, 800 RSUs converted into 800 shares (reported as a conversion/exercise of a derivative). The filing also shows an immediate disposition of 800 shares at $0.00 (no cash proceeds).

Key Details

• Transaction dates and prices:
  • 3/31/2026: Award of 422 shares at $69.30/share (value $29,244.60), fully vested (F1).
  • 4/01/2026: Conversion/exercise of derivative for 800 shares (acquired) and simultaneous disposition of 800 shares at $0.00 (reported) (F2, F4).
• Shares owned after the transactions: not specified in the filing.
• Notable footnotes:
  • F1: 422 shares were granted under the Non-Employee Director Compensation Program and Robinhood’s 2021 Omnibus Incentive Plan; vested on grant.
  • F2: RSUs convert 1-for-1 into Class A shares upon vesting/settlement.
  • F3: Prior transfer of 1,059 shares to a trust changed only form of ownership, not economic interest.
  • F4: The 800-share conversion is tied to a June 25, 2025 RSU grant of 3,202 RSUs with scheduled vesting.
• Filing timeliness: filing date April 2, 2026; the Form 4 does not indicate a late filing.

Context

• The RSU conversion (reported as a derivative conversion) and the immediate disposition at $0.00 typically reflect settlement mechanics (for example, withholding or share-cancellation to satisfy taxes or other obligations) rather than an open-market sale. These types of transactions are common when RSUs vest and do not necessarily signal buying or selling sentiment by the insider.