Tenev Vladimir 4

What Happened

• Vladimir Tenev, CEO of Robinhood Markets (HOOD), sold 375,000 shares on July 6, 2026 pursuant to a Rule 10b5-1 trading plan. The sales were executed in multiple trades at prices from about $111.69 to $118.63, producing total gross proceeds of approximately $43.56 million (weighted-average ≈ $116.17/share).
• The filing shows an automatic conversion of 375,000 shares of Class B common stock into Class A common stock upon execution of the sale (conversion of a derivative/other share class), and the converted shares were then sold as described.

Key Details

• Transaction date: July 6, 2026; Form 4 filed July 8, 2026 (timely — within the 2-business-day window).
• Shares sold: 375,000 total (executed in multiple blocks: 18,200; 13,000; 50,980; 49,177; 68,046; 115,773; 59,824).
• Price range reported across trades: roughly $111.69 – $118.63; weighted-average ≈ $116.17 per share; gross proceeds ≈ $43.56M.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes: F1–F2 state the sales were effected pursuant to a 10b5-1 trading plan adopted Sept 5, 2025 and that the Class B shares converted to Class A upon sale. F3–F9 list the intra-day price ranges for each block and the reporter’s offer to provide trade-level details on request.
• Filing status: Timely (no late filing reported).

Context

• These trades were carried out under a pre-established 10b5-1 plan, which is a rule-based program many insiders use to sell shares on a set schedule; such sales are typically viewed as routine and do not by themselves indicate management sentiment. The transaction involved an automatic conversion of Class B to Class A shares concurrent with the sale — effectively converting and selling the shares in one process.