Robinhood (HOOD) CLO Daniel Gallagher Receives RSUs; Shares Withheld

What Happened Daniel M. Gallagher Jr., Chief Legal Officer of Robinhood Markets (HOOD), had 112,856 restricted stock units (RSUs vest and convert to Class A common stock) on September 1, 2026. Robinhood withheld 54,309 of those shares to satisfy tax withholding obligations at $104.81 per share (proceeds reported as $5,692,126). The net shares delivered to Gallagher were 58,547. This was a routine vesting/settlement of equity awards rather than an open-market sale or purchase.

Key Details

• Transaction date: 2026-09-01; Form 4 filed 2026-09-03 (timely).
• Primary actions reported:
  • 112,856 RSUs vested/converted into shares (code M).
  • 54,309 shares withheld for tax withholding at $104.81/share (code F) = $5,692,126.
  • Several other M-coded entries at $0 reflect conversion/settlement reporting for portions of the vested awards (no cash sale).
• Net shares received by Gallagher: 58,547 (112,856 vested − 54,309 withheld).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes: RSUs convert 1:1 on vesting; withholding represents company retention to cover taxes (not an open-market sale). Grants originated in 2023–2026 with standard quarterly vesting schedules (see footnotes F3–F6).

Context

• Codes: M = option/derivative exercise or conversion (here, RSU settlement); F = payment of exercise price or tax liability (here, share withholding for taxes).
• This was a standard vesting/settlement of RSUs with share withholding to satisfy taxes (a routine administrative transaction). It does not necessarily signal insider sentiment about the stock since shares were not sold on the open market.