Reinstra Mark 4

What Happened

• Mark Reinstra, Chief Legal Officer and Corporate Secretary of Roblox (RBLX), had 118,110 performance/restricted units convert to 118,110 shares on Feb 9, 2026 (reported as exercise/conversion of a derivative at $0.00).
• On Feb 10, 2026 he sold a total of 34,320 shares in open-market transactions: 31,705 shares at an average price of $72.61 (≈ $2,302,221) and 2,615 shares at an average price of $73.14 (≈ $191,254). Total proceeds ≈ $2,493,475.
• The sales were largely to cover statutory tax-withholding obligations tied to the vesting (a “sell-to-cover”), not necessarily discretionary market sales.

Key Details

• Transaction dates: Feb 9, 2026 (conversion/vesting); Feb 10, 2026 (open-market sales). Filing date: Feb 11, 2026 (appears timely).
• Prices: 31,705 shares sold at average $72.61 (sales executed between $72.01–$73.00); 2,615 shares sold at average $73.14 (sales executed between $73.01–$73.27).
• Shares owned after transaction: not specified in the provided filing excerpt (see the full Form 4 for total beneficial ownership).
• Notable footnotes: vesting was performance-based (certified by the Leadership Development & Compensation Committee; F12), 67% of PSUs vested immediately with the remainder vesting in quarterly installments (F1, F12), and the sell-to-cover sale was mandated to satisfy tax withholding (F4). Several holdings are reported as held in trusts for which Reinstra is trustee (F7–F11).
• Transaction codes: M = exercise/conversion of derivative; S = open-market sale; F (tax withholding) applied to the sale.

Context

• The Feb 9 conversion reflects vested performance stock units (PSUs) and restricted stock units (RSUs) converting into common shares after performance targets (cumulative Bookings and EBITDA) were met for 2024–2025. A portion of vested shares was sold immediately to cover taxes (common, routine).
• Such sell-to-cover transactions are administrative and don’t necessarily signal the insider’s view on the company’s stock; purchases are typically more informative about insider bullishness.