Bhatt Baiju 4

What Happened

• Baiju, a non-employee director of Robinhood Markets (HOOD), was automatically granted 180 shares of Class A common stock on March 31, 2026 under the company's director compensation program (in lieu of cash). The grant was based on the March 31 closing price of $69.30, valuing the award at about $12,474, and the shares vested immediately.
• On April 1, 2026, 800 restricted stock units (RSUs) converted into 800 shares (reported as an exercise/conversion of a derivative). The filing also shows a simultaneous disposition of 800 shares at $0.00 per share (reported as a derivative disposition), consistent with a net settlement or share surrender commonly used to cover withholding/taxes on vesting.

Key Details

• Transaction dates: Grant 2026-03-31; RSU conversion and matching disposition 2026-04-01. Filing date: 2026-04-02 (appears timely).
• Prices/values: 180-share director grant priced at $69.30/share → ≈ $12,474 total. RSU conversion recorded at N/A; disposition recorded at $0.00 per share.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes: F1 explains the 180-share director award in lieu of cash and that those shares vested immediately; F2 notes RSUs convert 1:1 into common stock on vesting; F3 describes the original 3,202-RSU grant and its vesting schedule from June 25, 2025.
• Filing timeliness: Report filed Apr 2 for transactions on Mar 31 and Apr 1 — appears to comply with the 2-business-day Form 4 filing rule.

Context

• The RSU conversion and immediate disposition at $0.00 is commonly how companies handle tax withholding on vesting (a portion of shares are surrendered rather than a cash payment). This filing documents compensation and vesting activity rather than an open-market buy or sale by the insider.
• For retail investors, awards and RSU vesting are routine compensation events and do not by themselves indicate the insider’s view of the stock’s near-term prospects.