Norstrom Alex 4

What Happened

• Alex Norstrom, CEO of Spotify Technology S.A., exercised 5,436 vested stock options at $151.25 per share (cost = $822,195) on May 5, 2026 and immediately sold those 5,436 shares in the open market for aggregate proceeds of about $2,354,192 (weighted average sale price $433.07). The filing also reports the related derivative (the option) being disposed (canceled) upon exercise.

Key Details

• Transaction date: May 5, 2026.
• Exercise: 5,436 shares @ $151.25 = $822,195 (cash paid to exercise).
• Sale: 5,436 shares disposed @ weighted avg $433.07 = $2,354,192; sale prices ranged $431.06–$436.505 (per footnote).
• Related derivative: Option shown as disposed at $0 reflecting conversion on exercise.
• Footnotes: F1 = sale made pursuant to a Rule 10b5-1 plan adopted Dec 11, 2025; F2 = fractional share/tax withholding note; F3 = weighted avg price and price range; F4 = option fully vested and exercisable.
• Shares owned after the transaction: not reported in the supplied summary of this filing.
• Filing timeliness: Reported May 7, 2026 for a May 5 transaction — appears timely (Form 4 is generally due within two business days).

Context

• This was a cashless-style transaction: the CEO exercised vested options and sold the same shares immediately, converting option value to cash. Net proceeds (sale proceeds minus exercise cost) were roughly $1.53 million.
• The sale was executed under a pre-established Rule 10b5-1 trading plan (F1), which is a planned, formulaic arrangement and common for scheduled insider sales. This filing is factual and does not indicate motivation.