Robinhood (HOOD) Director Baiju Bhatt Sells 49,223 Shares Under 10b5-1 Plan

What Happened
Baiju Bhatt, a director of Robinhood Markets (HOOD), sold a total of 49,223 shares on July 24, 2026. The sales were effected under a Rule 10b5-1 plan and resulted from the automatic conversion of 49,223 Class B shares into Class A shares upon execution of the sales. The reported proceeds from the open-market disposals total approximately $4.68 million across multiple trades and price buckets.

Key Details

• Transaction date: July 24, 2026 (reported on Form 4 filed July 28, 2026 — filed timely).
• Sales (open market) by price bucket and reported proceeds:
  • 4,500 shares @ weighted avg $93.77 = $421,983
  • 23,752 shares @ weighted avg $94.70 = $2,249,203
  • 17,071 shares @ weighted avg $95.49 = $1,630,101
  • 2,100 shares @ weighted avg $96.60 = $202,867
  • 1,500 shares @ weighted avg $97.68 = $146,523
  • 300 shares @ weighted avg $99.49 = $29,846
  • Aggregate reported sale proceeds ≈ $4,680,523
• Derivative activity: 49,223 shares of Class B were converted to Class A and then sold (conversion entries reported on the Form 4). The conversion itself shows $0 proceeds because it was a share-class conversion tied to the sale.
• Plan: Transactions were effected pursuant to the Baiju Bhatt Living Trust’s 10b5-1 trading plan adopted November 13, 2025 (footnotes F1–F2).
• Price ranges: individual trades executed during the day across ranges roughly $93.17–$99.92 (see footnotes F3–F8 for per-bucket ranges). Reporting person offers to provide trade-level details on request.
• Shares owned after transaction: not specified in this Form 4.

Context

• This is a sale under a pre-existing 10b5-1 plan (routine scheduled selling), not an indicated purchase (purchases are typically seen as stronger bullish signals).
• The filing is timely (filed two business days after the trade date).
• For retail investors: sales under 10b5-1 plans are pre-scheduled and do not necessarily reflect the insider’s current view on the stock.