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

Role
CEO & President, Director, 10%+ Owner
Signature
/s/ Julie Rogers, Attorney-in-Fact
Stock symbol
RDDT
Transactions as of
Aug 20, 2024
Transactions value $
-$28,257,268
Form type
4
Date filed
8/22/2024, 08:38 PM
Previous filing
May 28, 2024
Next filing
Sep 4, 2024

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 +356K +51.67% $0.00 1.05M Aug 20, 2024 Direct
transaction RDDT Class A Common Stock Tax liability -$19.4M -356K -34.07% $54.36 689K Aug 20, 2024 Direct F1
transaction RDDT Class A Common Stock Conversion of derivative security $0 +20.1K +2.92% $0.00 709K Aug 20, 2024 Direct
transaction RDDT Class A Common Stock Tax liability -$1.09M -20.1K -2.83% $54.36 689K Aug 20, 2024 Direct F1
transaction RDDT Class A Common Stock Conversion of derivative security $0 +17.3K +2.51% $0.00 706K Aug 20, 2024 Direct
transaction RDDT Class A Common Stock Tax liability -$1.09M -20.1K -2.84% $54.36 686K Aug 20, 2024 Direct F1
transaction RDDT Class A Common Stock Sale -$265K -5K -0.73% $53.02 681K Aug 20, 2024 Direct F2, F3
transaction RDDT Class A Common Stock Sale -$232K -4.29K -0.63% $54.13 677K Aug 20, 2024 Direct F2, F4
transaction RDDT Class A Common Stock Sale -$258K -4.71K -0.7% $54.87 672K Aug 20, 2024 Direct F2, F5
transaction RDDT Class A Common Stock Conversion of derivative security $0 +110K $0.00 110K Aug 20, 2024 By The XYZ Revocable Trust
transaction RDDT Class A Common Stock Sale -$1.75M -33K -29.91% $52.95 77.4K Aug 20, 2024 By The XYZ Revocable Trust F2, F6
transaction RDDT Class A Common Stock Sale -$1.7M -31.5K -40.66% $53.91 45.9K Aug 20, 2024 By The XYZ Revocable Trust F2, F7
transaction RDDT Class A Common Stock Sale -$2.52M -45.9K -100% $54.80 0 Aug 20, 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 -356K -19.37% $0.00 1.48M Aug 20, 2024 Class A Common Stock 356K Direct F9, F10
transaction RDDT Class B Common Stock Conversion of derivative security $0 -20.1K -1.36% $0.00 1.46M Aug 20, 2024 Class A Common Stock 20.1K Direct F9
transaction RDDT Class B Common Stock Conversion of derivative security $0 -17.3K -1.18% $0.00 1.45M Aug 20, 2024 Class A Common Stock 17.3K Direct F9
transaction RDDT Stock Option (Right to Buy) Options Exercise $0 -110K -5.09% $0.00 2.06M Aug 20, 2024 Class B Common Stock 110K $1.93 By The XYZ Revocable Trust F11
transaction RDDT Class B Common Stock Options Exercise $0 +110K +7.31% $0.00 1.62M Aug 20, 2024 Class A Common Stock 110K By The XYZ Revocable Trust F9
transaction RDDT Class B Common Stock Conversion of derivative security -110K -6.81% 1.51M Aug 20, 2024 Class A Common Stock 110K By The XYZ Revocable Trust F9
transaction RDDT Stock Option (Right to Buy) Options Exercise $0 -86.7K -4.21% $0.00 1.97M Aug 21, 2024 Class B Common Stock 86.7K $1.93 By The XYZ Revocable Trust F11
transaction RDDT Class B Common Stock Options Exercise $0 +86.7K +5.74% $0.00 1.6M Aug 21, 2024 Class A Common Stock 86.7K 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.