Huffman Steve Ladd 4

What Happened
Steve Huffman (reported as a 10% owner) exercised convertible/derivative awards and sold a total of 18,000 Reddit (RDDT) shares on Feb 13, 2026. The open‑market sales totaled approximately $2,498,644 (weighted prices ranged from about $136.01 to $141.85 across multiple trades). The filing shows an exercise/conversion of 18,000 shares (reported at $0.00 per share) and matching open‑market disposals of 18,000 shares.

Key Details

• Transaction date: February 13, 2026 (Form 4 filed Feb 18, 2026).
• Sales: 18,000 shares sold in multiple trades at reported weighted prices and amounts:
  • 1,100 shares @ $136.74 = $150,414 (prices in that group ranged $136.01–$136.95)
  • 3,203 shares @ $137.66 = $440,925 (group range $137.13–$138.09)
  • 5,100 shares @ $138.64 = $707,064 (group range $138.16–$139.15)
  • 7,988 shares @ $139.52 = $1,114,486 (group range $139.16–$140.11)
  • 509 shares @ $140.61 = $71,570 (group range $140.22–$141.14)
  • 100 shares @ $141.85 = $14,185
  • Total proceeds from open‑market sales ≈ $2,498,644.
• Derivative activity: two “Exercise or conversion of derivative (M)” entries for 18,000 shares (one reported as an acquisition at $0.00, one as a derivative disposition at $0.00).
• Plan: Sales were effected under a Rule 10b5‑1 trading plan adopted May 19, 2025 (footnote F1).
• Vesting note: Option vests over five years on quarterly anniversaries beginning Dec 25, 2023 (footnote F7).
• Shares owned after transaction: not provided in the supplied data.
• Filing timing: Transactions dated Feb 13; Form filed Feb 18 (five days later). Form 4s are normally required within two business days of the transaction, so this filing date is later than that typical window.

Context

• Code M indicates exercise or conversion of a derivative (e.g., options). Here Huffman’s exercise/conversion entries and the simultaneous open‑market sales suggest he converted derivative awards and sold the resulting shares; the 10b5‑1 plan footnote indicates these sales were pre‑planned trading instructions rather than ad‑hoc trades.
• For retail investors: sales like these are common for option exercises and liquidity needs; they are not necessarily a signal of company outlook. Because Huffman is reported as a 10% owner, his trades are subject to heightened reporting rules and are often part of prearranged plans.