[144] Robinhood Markets, Inc. SEC Filing

Rhea-AI Filing Summary

Form 4 highlights: On 07/31/2025 NNN REIT director Elizabeth C. Gulacsy elected to defer board and committee fees into stock units, resulting in an acquisition of 1,033 common shares at an indicated price of $42.10 per share under the company’s compensation plan. Following the transaction, her direct ownership increases to 13,520 shares. The filing shows no derivative securities activity and does not amend any prior Form 4.

Because the shares were obtained through a fee-deferral program rather than an open-market purchase, the economic outlay is limited; however, the move modestly aligns the director’s interests with shareholders. No other insiders are listed, and there is no impact on outstanding share count or company guidance.

Positive

• Director increased personal stake by 1,033 shares, boosting alignment with shareholders.

Negative

• Transaction is immaterial relative to share count and executed via compensation deferral, limiting signaling value.

Insights

Financial Analyst

TL;DR: Minor insider buy via fee deferral; alignment positive but not market-moving.

This Form 4 records Ms. Gulacsy converting $≈43k of earned fees into 1,033 NNN shares, lifting her direct stake to 13,520. The purchase is programmatic and cashless, so it carries less signaling power than an open-market buy, yet it still indicates confidence and improves incentive alignment. Given NNN REIT’s ~181 m shares outstanding, the transaction is immaterial (<0.001%). I view the disclosure as neutral: supportive of governance best practices but unlikely to influence valuation or liquidity.

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

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	1568421	156805555.79	773963666	08/01/2025	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	10/04/2018	Founder Stock	Issuer			1568421	10/04/2018	Cash

* 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
BAIJU PRAFULKUMAR BHATT LIVING TR 85 Willow Road Menlo Park CA 94025	COMMON	07/24/2025	418338	42609089.29
BAIJU PRAFULKUMAR BHATT LIVING TR 85 Willow Road Menlo Park CA 94025	COMMON	06/11/2025	418338	31065961.85
BAIJU PRAFULKUMAR BHATT LIVING TR 85 Willow Road Menlo Park CA 94025	COMMON	05/20/2025	418338	26952334.96
BAIJU PRAFULKUMAR BHATT LIVING TR 85 Willow Road Menlo Park CA 94025	COMMON	05/13/2025	107608	6497364.54
BAIJU PRAFULKUMAR BHATT LIVING TR 85 Willow Road Menlo Park CA 94025	COMMON	05/09/2025	94156	5207616.99

144: Remarks and Signature

Remarks

Date of Notice

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 NNN shares did Director Elizabeth Gulacsy acquire?

She acquired 1,033 common shares on 07/31/2025.

What is Gulacsy's total NNN ownership after the transaction?

Her direct holdings increased to 13,520 shares.

At what price were the shares recorded?

The filing lists a value of $42.10 per share under the compensation plan.

Was this an open-market purchase?

No. The shares were obtained through a fee-deferral compensation plan, not an open-market buy.

Does the Form 4 indicate any derivative security trades?

No derivative securities were acquired or disposed of in this filing.