[144] Robinhood Markets, Inc. SEC Filing

Rhea-AI Filing Summary

Robinhood Markets, Inc. (HOOD) has filed a Form 144 indicating that Chief Brokerage Officer Steven Quirk intends to sell up to 92,257 common shares through Morgan Stanley Smith Barney on or about 25 June 2025. At the filing’s reference price, the shares are valued at approximately $7.57 million, representing a potential 0.01% of the company’s ~767 million shares outstanding.

The filing also discloses insider activity during the past three months under a Rule 10b5-1 trading plan:

• 3 Jun 2025 – 104,887 shares sold for $7.36 million
• 9 May 2025 – 24,311 shares sold for $1.34 million
• 5 May 2025 – 10,032 shares sold for $0.48 million

Including the proposed sale, Mr. Quirk will have disposed of 236,487 shares for roughly $16.7 million during the April-June 2025 quarter. The notice affirms that the seller is unaware of undisclosed material adverse information and that the trades are conducted under a pre-arranged 10b5-1 plan, signalling regulatory compliance.

While Form 144 filings do not mandate execution, they often precede actual sales and can signal insider sentiment. Investors typically monitor such filings for potential supply overhang and management’s view of the share’s valuation. No additional company fundamentals, earnings metrics, or strategic updates are provided in this document.

Positive

• None.

Negative

• Executive insider selling: Planned sale of 92,257 shares worth $7.6 M adds to recent $9 M disposals, potentially signalling lukewarm insider confidence.
• Potential supply overhang: Aggregate 236,487 shares earmarked/sold in Q2-2025 could exert downward pressure on trading levels.

Insights

Securities Analyst

TL;DR: Large insider sale adds $7.6 M supply; continuation of Quirk’s recent $9 M disposals, modestly bearish signal.

The Form 144 reveals that Steven Quirk plans to unload 92,257 HOOD shares, following 139 k shares already sold this quarter. Although the amount is small versus the 767 M share float, concentrated selling by a senior executive can weigh on sentiment, particularly after a series of sales totalling $16.7 M. The execution via a 10b5-1 plan reduces concerns about information asymmetry, but the cumulative activity still implies insider preference to reduce exposure near current price levels. With no offsetting corporate news, I view the disclosure as a moderately negative supply-side development rather than a company-specific operational issue.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	92257	7565996.57	767047021	06/25/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	11/01/2023	Restricted Stock Units	Issuer			92257	11/01/2023	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for STEVEN QUIRK 85 Willow Road Menlo Park CA 94025	Common	06/03/2025	104887	7356942.00
10b5-1 Sales for STEVEN QUIRK 85 Willow Road Menlo Park CA 94025	Common	05/09/2025	24311	1335403.23
10b5-1 Sales for STEVEN QUIRK 85 Willow Road Menlo Park CA 94025	Common	05/05/2025	10032	478256.37

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Robinhood (HOOD) shares does Steven Quirk plan to sell according to this Form 144?

The filing states he intends to sell 92,257 common shares.

What is the estimated market value of the planned HOOD share sale?

The proposed sale is valued at approximately $7.57 million based on the filing’s reference price.

When is the approximate sale date for the HOOD shares?

The filing lists an approximate sale date of 25 June 2025.

Were there recent HOOD insider sales prior to this notice?

Yes. Quirk sold 104,887 shares on 3 Jun 2025, 24,311 shares on 9 May 2025, and 10,032 shares on 5 May 2025.

Does the Form 144 confirm that the shares will definitely be sold?

No. Form 144 is a notice of intent; the sale may or may not occur depending on market conditions and the executive’s decision.

Is the sale being executed under a Rule 10b5-1 trading plan?

Yes. The filing references a 10b5-1 plan, indicating pre-arranged, compliance-oriented trading.