Robinhood (HOOD) Director Baiju Bhatt Sells Shares

What Happened

• Baiju Bhatt, a director of Robinhood Markets (HOOD), sold a total of 43,373 shares on September 10, 2026 under a Rule 10b5-1 plan. The sales generated approximately $4,956,491 in proceeds across multiple trades at varying prices. At the same time, 43,373 Class B shares held by the Baiju Bhatt Living Trust were automatically converted into Class A shares upon execution of the sales (derivative conversion).

Key Details

• Transaction date: September 10, 2026 (filed September 14, 2026; filing appears timely).
• Shares sold (by trade groups and reported weighted-average prices / proceeds):
  • 2,400 shares @ $112.77 → $270,652 (F2)
  • 15,984 shares @ $113.74 → $1,817,975 (F3/F4; executed in multiple trades; price range reported)
  • 18,889 shares @ $114.51 → $2,163,006 (F5)
  • 6,000 shares @ $115.54 → $693,232 (F6)
  • 100 shares @ $116.26 → $11,626 (F7)
  • Aggregate sold: 43,373 shares → ~$4.96M total proceeds
• Derivative conversion: 43,373 shares were converted from Class B to Class A (automatic conversion tied to the sales) and shown as a conversion/disposition of derivative securities (no cash proceeds from the conversion).
• Shares owned after the transaction: not specified in the provided excerpt — see the Form 4 filing for post-transaction holdings.
• Notable footnotes: sales executed pursuant to the Baiju Bhatt Living Trust’s 10b5-1 trading plan adopted Nov 13, 2025 (F1, F2). Several transactions were executed in multiple trades during the day with price ranges reported; the reporting person offers to provide full trade-level info on request (F3–F6).

Context

• These were programmed sales under a pre-established 10b5-1 plan, which are routine and planned in advance (not an indication of insider opportunism by itself).
• The filing shows a derivative conversion (Class B → Class A) tied to the sales; the conversion simply enabled the sale of those shares and did not produce cash itself.
• As a director (not a controlling 10% owner), this is insider director selling activity; retail investors often view purchases as stronger signals than planned sales.