Huffman Steve Ladd 4
4 · Reddit, Inc. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Reddit (RDDT) 10% Owner Steve Huffman Exercises Options and Sells Shares
What Happened
Steve Huffman (reported as a 10% owner) exercised or converted 18,000 derivative shares on 2026-03-13 (reported exercise price $0.00) and sold all 18,000 resulting Class A shares the same day in multiple open-market transactions for aggregate proceeds of approximately $2,391,428. The sales were executed under a pre-established Rule 10b5-1 trading plan.
Key Details
- Transaction date: March 13, 2026 (Form filed March 17, 2026; filing appears timely).
- Exercise/Conversion: 18,000 shares reported as acquired at $0.00 (derivative transaction code M).
- Sales (open market): 18,000 shares sold in multiple trades, proceeds ≈ $2,391,428 total. Breakdown by reported blocks:
- 11,100 shares — weighted avg $132.01 (range $131.38–$132.37) — proceeds ≈ $1,465,311 (F2)
- 3,000 shares — $132.72 (range $132.38–$133.35) — proceeds ≈ $398,160 (F3)
- 900 shares — $134.29 (range $133.70–$134.62) — proceeds ≈ $120,861 (F4)
- 1,600 shares — $135.26 (range $134.76–$135.75) — proceeds ≈ $216,416 (F5)
- 1,400 shares — $136.20 (range $135.80–$136.57) — proceeds ≈ $190,680 (F6)
- 10b5-1 plan: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted May 19, 2025 (F1).
- Post-transaction holdings: The filing notes prior trust transfers and states Column 5 reflects beneficial ownership after those transfers (F7), but the specific post-transaction share total is not provided in the summary data here.
- Other notes: Reported securities may be held in a grantor retained annuity trust where the reporting person is sole trustee and beneficiary (F8). Option vesting schedule referenced (vests quarterly over five years starting Dec 25, 2023) (F9).
Context
- This was an exercise of derivative/optioned shares followed by immediate sales (cashless-style outcome): the derivatives were converted and the resulting shares were sold the same day. Such transactions are commonly executed under pre-set trading plans and are routine for insiders exercising vested options; they are not, by themselves, a clear buy/sell signal about future company prospects.
Insider Transaction Report
Form 4
Reddit, Inc.RDDT
Huffman Steve Ladd
DirectorCEO & President10% Owner
Transactions
- Exercise/Conversion
Class A Common Stock
[F1]2026-03-13+18,000→ 429,195 total(indirect: By Trust) - Sale
Class A Common Stock
[F1][F2]2026-03-13$132.01/sh−11,100$1,465,311→ 418,095 total(indirect: By Trust) - Sale
Class A Common Stock
[F1][F3]2026-03-13$132.72/sh−3,000$398,160→ 415,095 total(indirect: By Trust) - Sale
Class A Common Stock
[F1][F4]2026-03-13$134.29/sh−900$120,861→ 414,195 total(indirect: By Trust) - Sale
Class A Common Stock
[F1][F5]2026-03-13$135.26/sh−1,600$216,416→ 412,595 total(indirect: By Trust) - Sale
Class A Common Stock
[F1][F6][F7]2026-03-13$136.20/sh−1,400$190,680→ 411,195 total(indirect: By Trust) - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F9]2026-03-13−18,000→ 1,243,255 total(indirect: By Trust)Exercise: $25.29Exp: 2033-12-25→ Class A Common Stock (18,000 underlying)
Holdings
- 68,966(indirect: By Trust)
Class A Common Stock
[F7][F8] - 6,897(indirect: By Trust)
Class A Common Stock
[F7][F8] - 6,897(indirect: By Trust)
Class A Common Stock
[F7][F8]
Footnotes (9)
- [F1]The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 19, 2025.
- [F2]The sales were executed in multiple trades at prices ranging from $131.38 to $132.37. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price within the ranges set forth in footnotes (2) to (6) to this Form 4.
- [F3]The sales were executed in multiple trades at prices ranging from $132.38 to $133.35.
- [F4]The sales were executed in multiple trades at prices ranging from $133.70 to $134.62.
- [F5]The sales were executed in multiple trades at prices ranging from $134.76 to $135.75.
- [F6]The sales were executed in multiple trades at prices ranging from $135.80 to $136.57.
- [F7]For clarity, the Reporting Person previously effected the indirect transfer of an aggregate of 82,760 shares of the Issuer's Class A Common Stock from The XYZ Revocable Trust to the EVS Trust - I, the JDI Trust - I, and the MLH Trust - I, in transactions exempt from reporting under Section 16 of the Exchange Act of 1934, as amended, pursuant to Rule 16a-13 thereof. For avoidance of doubt, the totals reported in Column 5 of Table I reflect beneficial ownership after such transfers.
- [F8]The reported securities are directly held by a grantor retained annuity trust, of which the Reporting Person is sole trustee and beneficiary.
- [F9]The option vests over five years on each quarterly anniversary of December 25, 2023, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.
Signature
/s/ Julie Rogers, Attorney-in-Fact|2026-03-17