Chime Financial (CHYM) co-founder reports trust-related share conversions
Rhea-AI Filing Summary
Chime Financial, Inc. director and co-founder Ryan A. King reported conversions of Class B into Class A Common Stock through entities associated with him. Several derivative positions coded as conversions (C) turned Class B shares with a stated $0.0000 conversion price into 303,930 and multiple 87,700-share blocks of Class A Common Stock. Footnotes explain these shares were held by various King family trusts where he served as attorney-in-fact or trustee, and that as a result of the conversions he no longer has beneficial ownership over certain trust-held shares. Following the transactions, the filing shows 140,001 Class A shares held directly and 29,622 Class A shares held indirectly, alongside remaining Class B interests that are each convertible 1-for-1 into Class A.
Positive
- None.
Negative
- None.
Insights
Routine trust-related share conversions with no open-market trading.
The Form 4 shows Ryan A. King associated entities converting Class B Common Stock into Class A Common Stock via derivative code C. The transactions occur at a stated $0.0000 conversion price and do not involve open-market buying or selling.
Footnotes clarify that many positions are held by family trusts where King served as attorney-in-fact or trustee, and that after certain conversions he no longer has beneficial ownership of some trust-held shares. This indicates a restructuring of how interests are recorded rather than a cash transaction.
The transaction summary lists 567,030 shares involved in derivative exercises and multiple remaining Class B positions convertible 1-for-1 into Class A. Overall, the activity appears administrative and governance-related, rather than a directional bet on May 11, 2026.
Insider Trade Summary
Net Buyer: 567,030 shares
Net Buy
21 txns
Insider
King Ryan A
Role
Co-Founder
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 87,700 | $0.00 | $0.00 |
| Conversion | Class B Common Stock | 87,700 | $0.00 | $0.00 |
| Conversion | Class B Common Stock | 87,700 | $0.00 | $0.00 |
| Conversion | Class B Common Stock | 303,930 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 87,700 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 87,700 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 87,700 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 303,930 | $0.00 | $0.00 |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 14,691,089 shares (Indirect, See footnote);
Class A Common Stock — 29,622 shares (Indirect, See footnote);
Class B Common Stock — 14,408 shares (Direct);
Class A Common Stock — 140,001 shares (Direct)
Footnotes (17)
- F1. As a result of this conversion, the Reporting Person no longer serves as attorney-in-fact for the holder and no longer has beneficial ownership over such shares.
- F2. The shares are held by King Gift Trust EK, for which the Reporting Person served as attorney-in-fact.
- F3. The shares are held by King Gift Trust LK, for which the Reporting Person served as attorney-in-fact.
- F4. The shares are held by King Gift Trust SK, for which the Reporting Person served as attorney-in-fact.
- F5. The shares are held by Peninsula Living Trust, for which the Reporting Person served as attorney-in-fact.
- F6. The shares are held by the King Family Trust, for which the Reporting Person serves as trustee.
- F7. Certain of these securities are restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock, subject to the applicable vesting schedule and conditions of each RSU.
- F8. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.
- F9. The shares are held by King Irrevocable Trust A, for which the Reporting Person serves as attorney-in-fact.
- F10. The shares are held by King Irrevocable Trust M, for which the Reporting Person serves as attorney-in-fact.
- F11. The shares are held by King Grantor Trust MV, for which the Reporting Person serves as attorney-in-fact.
- F12. The shares are held by King Gift Trust AK, for which the Reporting Person serves as attorney-in-fact.
- F13. The shares are held by King Gift Trust AV, for which the Reporting Person serves as attorney-in-fact.
- F14. The shares are held by King Gift Trust CV, for which the Reporting Person serves as attorney-in-fact.
- F15. The shares are held by King Gift Trust MK, for which the Reporting Person serves as attorney-in-fact.
- F16. The shares are held by King Gift Trust NV, for which the Reporting Person serves as attorney-in-fact.
- F17. The shares are held by Maureen Vergara, a member of the Reporting Person's family.
Key Figures
Converted Class A block: 303,930 shares
Additional Class A blocks: 87,700 shares each
Total shares in exercises: 567,030 shares
+4 more
7 metrics
Converted Class A block
303,930 shares
Class A Common Stock from derivative conversion on May 11, 2026
Additional Class A blocks
87,700 shares each
Multiple Class A blocks from derivative conversions, code C
Total shares in exercises
567,030 shares
ExerciseShares in transaction summary for derivative conversions
Direct Class A holdings
140,001 shares
Class A Common Stock held directly after transactions
Indirect Class A holdings
29,622 shares
Class A Common Stock held indirectly after transactions
Largest remaining derivative block
12,183,739 shares
Underlying Class A shares for one Class B derivative position
Conversion price
$0.0000 per share
Stated conversion price for Class B into Class A
Key Terms
restricted stock units ("RSUs"), attorney-in-fact, beneficial ownership, Class B Common Stock, +1 more
5 terms
restricted stock units ("RSUs") financial
"Certain of these securities are restricted stock units ("RSUs"). Each RSU represents a contingent right…"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
attorney-in-fact regulatory
"for which the Reporting Person served as attorney-in-fact."
An attorney-in-fact is the person or entity given legal authority through a power of attorney to act on behalf of another for specific tasks, such as signing documents, voting shares, or handling transactions. For investors, this matters because it lets a trusted representative make timely decisions or complete paperwork when the owner cannot, much like handing keys to someone to run errands on your behalf—so checks on scope and limits of that authority are important.
beneficial ownership regulatory
"no longer has beneficial ownership over such shares."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Class B Common Stock financial
"Each share of Class B Common Stock is convertible into one share of Class A Common Stock…"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
derivative security financial
"transaction_code_description: "Conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Chime Financial (CHYM) co-founder Ryan A. King report in this Form 4?
Ryan A. King reported conversions of Class B into Class A Common Stock tied to family and other trusts. These derivative transactions reclassify holdings rather than reflect open-market buying or selling activity in Chime Financial shares.
What are Ryan King’s direct and indirect Chime Financial Class A holdings after these transactions?
After the reported activity, the Form 4 lists 140,001 Class A Common Stock shares held directly and 29,622 Class A shares held indirectly. Additional economic exposure comes from remaining Class B shares that are each convertible 1-for-1 into Class A.