Derek Andersen - Nov 15, 2023 Form 4 Insider Report for Snap Inc (SNAP)

Signature
/s/ Atul Porwal, Attorney-in-fact
Stock symbol
SNAP
Transactions as of
Nov 15, 2023
Transactions value $
-$599,769
Form type
4
Date filed
11/17/2023, 07:00 PM
Previous filing
Sep 20, 2023
Next filing
Dec 19, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SNAP Class A Common Stock Sale -$122K -10K -0.43% $12.15 2.33M Nov 15, 2023 Direct F1
transaction SNAP Class A Common Stock Sale -$478K -40.1K -1.72% $11.90 2.29M Nov 16, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 21, 2023.
F2 Represents the sale of shares to cover tax withholding obligations in connection with the settlement and release of restricted stock awards ("RSAs") granted by the Issuer to the reporting person. Each RSA represents a contingent right to receive one share of Issuer's Class A Common Stock.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.82 to $11.995 per share, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.