Reddit (RDDT) 10% Owner Steve Huffman Sells 40,336 Shares

What Happened

• Steve L. Huffman (reported as a 10% owner) had shares withheld on 2026-08-20 to satisfy tax obligations: 40,336 shares were disposed at an imputed price of $151.71 for a value of $6,119,375. On the same date he converted 2,954 derivative/Class B shares into Class A shares (recorded at $0). The withholding was done by the issuer to cover taxes and was not a market sale.

Key Details

• Transaction date: 2026-08-20; Filing date: 2026-08-24 (filed within the SEC’s 2 business-day window for Form 4s).
• Sale/Withholding: 40,336 shares @ $151.71 = $6,119,375 (code F — tax withholding; not an open-market sale).
• Conversions: 2,954 shares recorded as conversion (code C) at $0; Class B is convertible 1:1 into Class A per footnote.
• Holdings after transaction: not specified in this filing.
• Relevant footnotes: F1 = shares withheld by issuer for tax withholding (not a market sale); F2 = securities held by a grantor retained annuity trust for which Huffman is sole trustee/beneficiary; F3 = Class B → Class A convertible 1:1.

Context

• This filing reflects routine tax withholding following a conversion/award event rather than a discretionary open-market sale; such withholdings are common and do not necessarily indicate a change in the insider’s view of the company. The conversion entries reflect moving convertible Class B shares into Class A shares (one-to-one). As a 10% owner, Huffman’s filings are regulatory disclosures of beneficial ownership rather than ordinary employee trading.