Reddit (RDDT) COO Jennifer Wong Exercises Options, Sells Shares

What Happened

• Jennifer L. Wong, Chief Operating Officer of Reddit, exercised stock option/derivative awards to acquire 60,000 shares on Sep 14, 2026 (16,453 shares at $5.35 and 43,547 shares at $20.76). She then sold 60,000 shares in multiple open-market trades the same day, generating total proceeds of approximately $9,739,589. The cash paid to exercise the options was about $992,060.
• These were option-exercise (transaction code M) and open-market sale (S) transactions. Sales were executed across multiple trades and price bands; this looks like a routine exercise-and-sell (cashless) transaction rather than a fresh purchase.

Key Details

• Transaction date: Sep 14, 2026; Form 4 filed Sep 16, 2026 (appears timely).
• Options exercised: 16,453 @ $5.35 ($88,024) and 43,547 @ $20.76 ($904,036).
• Shares sold: 60,000 shares in multiple trades for total proceeds ≈ $9,739,589 (sales priced from about $157.47 up to $166.14 across the trades; per-footnote ranges).
• Net proceeds (sales minus exercise cost): roughly $8.75M (informational calculation).
• Shares owned after transaction: not specified in the provided filing excerpt — see the Form 4 filing for reported holdings.
• Notable footnotes: F1 — sales were made pursuant to a Rule 10b5-1 trading plan adopted May 12, 2026; F11 — the stock option was fully vested and exercisable; F2–F10 — sales executed in multiple trades with detailed price ranges (file includes weighted-average prices and range details).
• Transaction codes: M = exercise/conversion of derivative; S = open market sale.

Context

• Because Wong exercised options and sold the same number of shares the same day, this is effectively a cashless exercise: exercising vested options and immediately selling the shares to cover costs or realize gains.
• The sales were conducted under a pre-established 10b5-1 trading plan (per F1), which is commonly used to execute scheduled sales while insulating the insider from timing accusations. This is a disclosure of executed transactions, not a statement of intent or company guidance.