Steve Ladd Huffman - 20 Aug 2024 Form 4 Insider Report for Reddit, Inc. (RDDT)

Role
CEO & President, Director, 10%+ Owner
Signature
/s/ Julie Rogers, Attorney-in-Fact
Issuer symbol
RDDT
Transactions as of
20 Aug 2024
Net transactions value
-$28,257,268
Form type
4
Filing time
22 Aug 2024, 20:38:38 UTC
Previous filing
28 May 2024
Next filing
04 Sep 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RDDT Class A Common Stock Conversion of derivative security $0 +356,066 +52% $0.000000 1,045,223 20 Aug 2024 Direct
transaction RDDT Class A Common Stock Tax liability $19,355,748 -356,066 -34% $54.36 689,157 20 Aug 2024 Direct F1
transaction RDDT Class A Common Stock Conversion of derivative security $0 +20,093 +2.9% $0.000000 709,250 20 Aug 2024 Direct
transaction RDDT Class A Common Stock Tax liability $1,092,255 -20,093 -2.8% $54.36 689,157 20 Aug 2024 Direct F1
transaction RDDT Class A Common Stock Conversion of derivative security $0 +17,288 +2.5% $0.000000 706,445 20 Aug 2024 Direct
transaction RDDT Class A Common Stock Tax liability $1,092,255 -20,093 -2.8% $54.36 686,352 20 Aug 2024 Direct F1
transaction RDDT Class A Common Stock Sale $265,100 -5,000 -0.73% $53.02 681,352 20 Aug 2024 Direct F2, F3
transaction RDDT Class A Common Stock Sale $232,326 -4,292 -0.63% $54.13 677,060 20 Aug 2024 Direct F2, F4
transaction RDDT Class A Common Stock Sale $258,328 -4,708 -0.7% $54.87 672,352 20 Aug 2024 Direct F2, F5
transaction RDDT Class A Common Stock Conversion of derivative security $0 +110,408 $0.000000 110,408 20 Aug 2024 By The XYZ Revocable Trust
transaction RDDT Class A Common Stock Sale $1,748,727 -33,026 -30% $52.95 77,382 20 Aug 2024 By The XYZ Revocable Trust F2, F6
transaction RDDT Class A Common Stock Sale $1,696,332 -31,466 -41% $53.91 45,916 20 Aug 2024 By The XYZ Revocable Trust F2, F7
transaction RDDT Class A Common Stock Sale $2,516,197 -45,916 -100% $54.80 0 20 Aug 2024 By The XYZ Revocable Trust F2, F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RDDT Class B Common Stock Conversion of derivative security $0 -356,066 -19% $0.000000 1,482,599 20 Aug 2024 Class A Common Stock 356,066 Direct F9, F10
transaction RDDT Class B Common Stock Conversion of derivative security $0 -20,093 -1.4% $0.000000 1,462,506 20 Aug 2024 Class A Common Stock 20,093 Direct F9
transaction RDDT Class B Common Stock Conversion of derivative security $0 -17,288 -1.2% $0.000000 1,445,218 20 Aug 2024 Class A Common Stock 17,288 Direct F9
transaction RDDT Stock Option (Right to Buy) Options Exercise $0 -110,408 -5.1% $0.000000 2,058,322 20 Aug 2024 Class B Common Stock 110,408 $1.93 By The XYZ Revocable Trust F11
transaction RDDT Class B Common Stock Options Exercise $0 +110,408 +7.3% $0.000000 1,621,192 20 Aug 2024 Class A Common Stock 110,408 By The XYZ Revocable Trust F9
transaction RDDT Class B Common Stock Conversion of derivative security -110,408 -6.8% 1,510,784 20 Aug 2024 Class A Common Stock 110,408 By The XYZ Revocable Trust F9
transaction RDDT Stock Option (Right to Buy) Options Exercise $0 -86,749 -4.2% $0.000000 1,971,573 21 Aug 2024 Class B Common Stock 86,749 $1.93 By The XYZ Revocable Trust F11
transaction RDDT Class B Common Stock Options Exercise $0 +86,749 +5.7% $0.000000 1,597,533 21 Aug 2024 Class A Common Stock 86,749 By The XYZ Revocable Trust F9
* 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 These shares were withheld by the Company to satisfy the reporting person's tax withholding obligations. Not a market sale.
F2 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 21, 2024.
F3 The sales were executed in multiple trades at prices ranging from $52.52 to $53.51. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price within the ranges set forth in footnotes (3) to (8) to this Form 4.
F4 The sales were executed in multiple trades at prices ranging from $53.54 to $54.52.
F5 The sales were executed in multiple trades at prices ranging from $54.54 to $55.05.
F6 The sales were executed in multiple trades at prices ranging from $52.43 to $53.42.
F7 The sales were executed in multiple trades at prices ranging from $53.43 to $54.42.
F8 The sales were executed in multiple trades at prices ranging from $54.43 to $55.05.
F9 The Class B Common Stock is convertible at any time at the option of the holder into the Issuer's Class A Common Stock on a one-to-one basis.
F10 The Reporting Person's previous Forms 4 filed on April 11, 2024 and May 28, 2024, overstated the number of shares of Class B Common Stock held directly by the Reporting Person. The number of shares of Class B Common Stock held directly by the Reporting Person has been corrected herein.
F11 The stock option is fully vested and currently exercisable.