Huffman Steve Ladd 4
4 · Reddit, Inc. · Filed Jun 17, 2026
Research Summary
AI-generated summary of this filing
Reddit (RDDT) 10% Owner Steve Huffman Exercises Options, Sells Shares
What Happened
- Steve L. Huffman, reported as a 10% owner of Reddit, exercised options to acquire 18,000 shares at $25.29 per share (cost = $455,220) and sold 18,000 shares in multiple open‑market transactions on June 15, 2026. The sale proceeds totaled approximately $3,208,607. The transactions were reported on a Form 4 filed June 17, 2026.
Key Details
- Transaction date: June 15, 2026 (Form 4 filed June 17, 2026).
- Exercise (code M): 18,000 shares acquired at $25.29 each for $455,220.
- Sales (code S): 18,000 shares disposed in many trades; proceeds ≈ $3,208,607. Trade prices ranged roughly from $169.00 to $181.98 per share (see footnotes for sub‑range details).
- Reported under a pre‑arranged Rule 10b5‑1 trading plan adopted May 19, 2025 (footnote F1).
- The filing also lists a derivative disposition of 18,000 shares at $0.00 (listed as an M code in the filing).
- Securities are held in a grantor retained annuity trust of which the reporting person is sole trustee and beneficiary (footnote F14).
- Option vesting schedule referenced in the filing: vests over five years on each quarterly anniversary of Dec 25, 2023 (footnote F15).
- Shares owned after the transactions are not specified in the provided excerpt.
- Filing appears timely (no late‑filing indicator).
Context
- This looks like a cashless exercise pattern: Huffman exercised options at a low strike and sold the resulting shares the same day, generating net proceeds. The sales were executed under a Rule 10b5‑1 plan, which schedules trades in advance and is common for insiders to avoid timing issues. For retail investors, scheduled sales by insiders (especially under a 10b5‑1 plan) are generally seen as routine and not necessarily a signal of changed conviction; purchases tend to be more informative about insider sentiment.
Insider Transaction Report
Form 4
Reddit, Inc.RDDT
Huffman Steve Ladd
DirectorCEO & President10% Owner
Transactions
- Exercise/Conversion
Class A Common Stock
[F1]2026-06-15$25.29/sh+18,000$455,220→ 391,814 total(indirect: By Trust) - Sale
Class A Common Stock
[F2]2026-06-15$169.48/sh−400$67,792→ 391,414 total(indirect: By Trust) - Sale
Class A Common Stock
[F3]2026-06-15$170.31/sh−500$85,155→ 390,914 total(indirect: By Trust) - Sale
Class A Common Stock
[F4]2026-06-15$171.39/sh−500$85,695→ 390,414 total(indirect: By Trust) - Sale
Class A Common Stock
[F5]2026-06-15$173.59/sh−500$86,795→ 389,914 total(indirect: By Trust) - Sale
Class A Common Stock
[F6]2026-06-15$174.43/sh−900$156,987→ 389,014 total(indirect: By Trust) - Sale
Class A Common Stock
[F7]2026-06-15$175.68/sh−500$87,840→ 388,514 total(indirect: By Trust) - Sale
Class A Common Stock
[F8]2026-06-15$176.82/sh−1,400$247,548→ 387,114 total(indirect: By Trust) - Sale
Class A Common Stock
[F9]2026-06-15$177.69/sh−2,350$417,572→ 384,764 total(indirect: By Trust) - Sale
Class A Common Stock
[F10]2026-06-15$178.71/sh−3,050$545,066→ 381,714 total(indirect: By Trust) - Sale
Class A Common Stock
[F11]2026-06-15$179.65/sh−3,100$556,915→ 378,614 total(indirect: By Trust) - Sale
Class A Common Stock
[F12]2026-06-15$180.85/sh−1,400$253,190→ 377,214 total(indirect: By Trust) - Sale
Class A Common Stock
[F13]2026-06-15$181.78/sh−3,400$618,052→ 373,814 total(indirect: By Trust) - Exercise/Conversion
Stock Option (Right to Buy)
[F15]2026-06-15−18,000→ 1,135,255 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
[F14] - 6,897(indirect: By Trust)
Class A Common Stock
[F14] - 6,897(indirect: By Trust)
Class A Common Stock
[F14]
Footnotes (15)
- [F1]This transaction reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 19, 2025.
- [F10]The sales were executed in multiple trades at prices ranging from $178.21 to $179.19.
- [F11]The sales were executed in multiple trades at prices ranging from $179.21 to $180.16.
- [F12]The sales were executed in multiple trades at prices ranging from $180.30 to $181.28.
- [F13]The sales were executed in multiple trades at prices ranging from $181.41 to $181.98.
- [F14]The securities are directly held by a grantor retained annuity trust, of which the Reporting Person is sole trustee and beneficiary.
- [F15]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.
- [F2]The sales were executed in multiple trades at prices ranging from $169.00 to $169.95. 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 13 to this Form 4.
- [F3]The sales were executed in multiple trades at prices ranging from $170.00 to $170.98.
- [F4]The sales were executed in multiple trades at prices ranging from $171.22 to $171.52.
- [F5]The sales were executed in multiple trades at prices ranging from $172.97 to $173.93.
- [F6]The sales were executed in multiple trades at prices ranging from $174.14 to $175.00.
- [F7]The sales were executed in multiple trades at prices ranging from $175.17 to $175.94.
- [F8]The sales were executed in multiple trades at prices ranging from $176.18 to $177.17.
- [F9]The sales were executed in multiple trades at prices ranging from $177.21 to $178.18.
Signature
/s/ Julie Rogers, Attorney-in-Fact|2026-06-17