SARANDOS THEODORE A 4

What Happened

• Ted Sarandos, a Director at Spotify Technology S.A. (SPOT), exercised stock options on 2026-05-28 to acquire 5,630 ordinary shares at $241.57 per share for a total cash outlay of $1,360,039. On the same date he was also granted 494 restricted stock units (RSUs) (no immediate cash cost).
• The filing shows related derivative reporting entries with $0 amounts that reflect conversion/award reporting mechanics; there is no reported sale of the exercised shares in this Form 4.

Key Details

• Transaction date: 2026-05-28; Form 4 filed: 2026-05-29.
• Option exercise: 5,630 shares acquired at $241.57 each; total ≈ $1,360,039.
• RSU grant: 494 RSUs granted at $0 (each RSU represents a contingent right to one ordinary share).
• Footnotes: F1 — RSUs vest in equal annual installments through Feb 15, 2030. F2 — the stock option exercised is fully vested and currently exercisable. F3 — option award vests in equal annual installments through Feb 15, 2030.
• Shares owned after the transaction: not specified in the provided data.
• Filing timeliness: filed the day after the reported transaction; no indication in the report that it was late.

Context

• This was an exercise of vested options (insider paid cash to acquire shares), not a sale; the Form 4 does not show an immediate resale or cashless exercise in this filing. Exercises indicate the insider took delivery of shares rather than disposing of them.
• RSUs are time-vesting awards and do not represent immediately tradable shares until vested and settled. As a director (not a 10% owner), Sarandos’s transactions are standard insider reporting rather than institutional-level trading.