Wong Jennifer L. 4

What Happened

• Jennifer L. Wong, Chief Operating Officer of Reddit, exercised/converting 33,507 derivative shares (reported at $0.00) and sold a total of 39,165 shares in multiple open-market transactions on March 18, 2026. The reported proceeds from the sales total approximately $5.62 million. The option/derivative is reported as fully vested and exercisable.

Key Details

• Transaction date: March 18, 2026; Form 4 filed March 20, 2026 (timely).
• Sales executed at prices ranging roughly from $142.13 to $146.53 per share; total reported sale proceeds ≈ $5,616,679.
• Exercise/conversion reported at $0.00 per share for 33,507 shares (derivative code M); the option is fully vested (footnote F10).
• The sales were effected pursuant to a Rule 10b5-1 trading plan adopted May 16, 2025 (footnote F1).
• Filing did not specify Jennifer Wong’s total shares owned after these transactions in the provided filing excerpt.

Context

• This was an exercise/conversion of derivative holdings followed by open-market sales. When insiders exercise options and sell the resulting shares (often under a pre-established 10b5-1 plan), it is typically a liquidity event rather than a direct buy or sell signal about the insider’s view of the company. The filing is factual and does not indicate motivation.