[Form 4] Cricut, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Cricut, Inc. (CRCT) – Form 4 filed 23 Jul 2025

Chief Financial Officer Kimball C. Shill automatically acquired 93,778 Class A shares on 21 Jul 2025 as dividend-equivalent restricted stock units related to the company’s $0.75 special and $0.10 semi-annual cash dividends. Acquisition price was reported as $0.

After the credit, Shill directly owns 1,420,651 shares; indirect family accounts hold a total of 819 shares. No shares were sold.

The filing also records a fully-vested employee stock option for 27,886 shares with an adjusted exercise price of $17.50 (reflecting past special dividends) and a 24 Mar 2031 expiration.

• No open-market transactions occurred; the increase stems solely from dividend adjustments.
• Incremental dilution is immaterial (<0.2 % of basic shares), but the larger insider stake may improve perceived alignment with shareholders.

Positive

• 93,778 new shares acquired at $0 cost, increasing CFO ownership and signalling continued equity alignment.
• Option exercise price cut to $17.50, enhancing potential upside should CRCT trade above strike.

Negative

• Issuance of additional RSUs adds incremental dilution, albeit immaterial in scale.
• Continued use of special cash dividends may divert cash from growth initiatives.

Insights

Securities Analyst

TL;DR: Routine dividend-equivalent RSU credit; neutral liquidity impact, modest alignment signal.

The CFO’s acquisition is mechanical—triggered by previously declared dividends—not an active purchase, so it offers limited insight into management’s valuation view. Ownership rises to 1.42 M shares, keeping the executive highly levered to equity performance. The fully-vested option at $17.50 becomes value-creating only if CRCT trades above that level. With negligible dilution, market impact should be minimal; therefore, I classify the event as informational rather than catalytic.

Corporate Governance Expert

TL;DR: Filing underscores shareholder-friendly dividend policy; marginal dilution, governance stance unchanged.

Crediting RSUs for cash dividends aligns dividend treatment across equity classes and adheres to plan provisions—good governance hygiene. The option price reduction complies with anti-dilution clauses, preventing unintended disadvantage to insiders. Because the transactions are formulaic and no discretionary grants were made, investors should view this as standard practice, neither strengthening nor weakening governance posture.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Shill Kimball C

(Last) (First) (Middle)

10855 S. RIVER FRONT PARKWAY

(Street)

SOUTH JORDAN UT 84095

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cricut, Inc. [ CRCT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/21/2025		A		93,778(1)	A	$0	1,420,651	D
Class A Common Stock								614	I	By Spouse
Class A Common Stock								205	I	By Son

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$17.5(2)							(3)	03/24/2031	Class A Common Stock	27,886		27,886	D

Explanation of Responses:

1. This reflects dividend equivalent restricted stock units that were granted in connection with a special one-time cash dividend of $.75 per share and a recurring semi-annual cash dividend of $.10 per share to holders of the issuer's stock, paid on July 21, 2025, to stockholders of record at the close of business on July 7, 2025. Holders of restricted stock units that were unvested on the record date were automatically credited with a dividend equivalent based on the value of the per share dividend pursuant to the terms of the issuer's equity incentive documents.

2. Reflects equitable adjustment to the option exercise price pursuant to the underlying plan in connection with Cricut's special cash dividends declared on December 21, 2022, May 18, 2023, May 7, 2024, and May 6, 2025. Pursuant to the adjustment, the exercise price was reduced by $2.50.

3. Shares subject to the option are fully vested and immediately exercisable.

Remarks:

	/s/ Lauren Curtin, by power of attorney	07/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

How many CRCT shares did the CFO acquire in this Form 4 filing?

The filing reports 93,778 Class A shares credited as dividend-equivalent RSUs.

What is the CFO's total direct ownership after the transaction?

Kimball C. Shill now directly holds 1,420,651 CRCT shares.

Did the CFO buy or sell shares on the open market?

No. The shares were automatically credited; no open-market purchases or sales occurred.

What is the exercise price and size of the reported stock option?

The fully-vested option covers 27,886 shares at an exercise price of $17.50 and expires 24 Mar 2031.

Why was the option exercise price adjusted?

It was reduced by $2.50 to reflect special cash dividends declared between 2022-2025, per the plan’s anti-dilution provisions.