Marshall Christopher P 4

What Happened
Christopher P. Marshall, a director of Spotify Technology S.A., exercised options to acquire 5,630 ordinary shares at an exercise price of $241.57 per share (total cost $1,360,039) on May 26, 2026. On the same day he sold 2,650 shares in an open-market transaction at $519.86 per share (gross proceeds $1,377,629). The filing also records the conversion/disposition of the derivative instrument tied to the exercised options (reported as disposed at $0).

Key Details

• Transaction date: 2026-05-26; Filing date: 2026-05-28 (timely).
• Exercise: 5,630 shares acquired @ $241.57 = $1,360,039.
• Open-market sale: 2,650 shares sold @ $519.86 = $1,377,629.
• Derivative entry: 5,630 shares reported as converted/disposed at $0 (reflects option conversion reporting).
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Notable footnotes: F1 — 1,059 shares held via RSUs with multi-year vesting schedule; multiple footnotes (F2–F11) show holdings held through entities (e.g., Management XI LLC, TCV vehicles, trusts) and state Mr. Marshall disclaims beneficial ownership except to the extent of his pecuniary interest.
• Filing timeliness: Report appears filed within the Form 4 deadline (no late flag in provided data).

Context

• This was primarily an option exercise with a partial same‑day sale. The exercise acquired shares at a fixed exercise price; the separate sale of 2,650 shares was executed in the open market. The zero-dollar "disposed" derivative line records the conversion/settlement of the option instrument and is standard when options are exercised.
• These transactions are routine insider exercises and sales; facts are recorded as reported — they do not themselves explain Mr. Marshall’s motivation.