Robinhood (HOOD) director entities sell 1.23M shares and enter collar hedge
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Robinhood Markets director-linked entities reported significant share sales and a new options hedge. Trusts associated with director Malka Meyer sold a total of 1,233,808 shares of Class A Common Stock in open-market transactions at weighted-average prices between $103.4194 and $104.3349 per share.
Following these transactions, the Aphrodite Trusts together hold hundreds of thousands of shares, while the Malka Kleiner Revocable Trust holds 3,000,000 shares, with Meyer and family members serving as trustees. Meyer disclaims beneficial ownership beyond any pecuniary interest.
Separately, Bullfrog Capital, an entity associated with Meyer, entered a collar hedging arrangement on August 27, 2025, buying 30,000 European-style FLEX put options with a $100.00 strike and selling 30,000 European-style FLEX call options with a $150.00 strike, physically settled and expiring on December 31, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,233,808 shares ($121,937,352)
Net Sell
8 txns
Insider
Malka Meyer
Role
null
Sold
1,233,808 shs ($121.94M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 554,108 | $103.4194 | $57.31M |
| Sale | Class A Common Stock | 539,180 | $104.3349 | $56.26M |
| Sale | Put option (right to sell) | 30,000 | $0.00 | -- |
| Sale | Call option (obligation to sell) | 30,000 | $0.00 | -- |
| Sale | Class A Common Stock | 80,520 | $104.0306 | $8.38M |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 4,515,414 shares (Indirect, By Trusts);
Put option (right to sell) — 30,000 shares (Indirect, By Fund);
Call option (obligation to sell) — 30,000 shares (Indirect, By Fund);
Class A Common Stock — 7,010 shares (Direct, null)
Footnotes (1)
- Represents 26,840 shares of Class A Common Stock ("Shares") of Robinhood Markets, Inc. ("Issuer") sold by each of the Aphrodite EM Trust, the Aphrodite MM Trust and the Aphrodite SM Trust (collectively, the "Aphrodite Trusts"). The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $104.00 to $104.51, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the transactions reported in this Form 4, (i) 325,411 shares are held by each of the Aphrodite Trusts, (ii) 3,000,000 shares are held directly by the Malka Kleiner Revocable Trust dated July 16, 2012 (the "Malka Trust") and (iii) one share is held directly by the Tibbir Trust. The Reporting Person serves as trustee of the Malka Trust, and the Reporting Person's immediate family member serves as trustee of the Tibbir Trust and each of the Aphrodite Trusts. The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16 of the Securities Exchange Act of 1934 ("Section 16") except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose. Represents (i) 69,000 Shares sold by each of the Aphrodite Trusts and (ii) 347,108 Shares sold by the Malka Trust. The price reported in Column 4 is a weighted average price. The Shares were sold in multiple transactions at prices ranging from $103.00 to $103.995, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Represents 539,180 Shares sold by the Malka Trust. The price reported in Column 4 is a weighted average price. The Shares were sold in multiple transactions at prices ranging from $104.00 to $104.94, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. The Reporting Person is the founder and managing partner of the Ribbit family of funds, and is contractually obligated to transfer and/or remit the proceeds of any sale of shares issued pursuant to stock awards or upon vesting and settlement of restricted stock units to certain entities affiliated with such funds. The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16 except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose. Shares held by Tibbir Holdings LLC, of which the Reporting Person serves as investment manager. The Reporting Person disclaims beneficial ownership of such Shares for purposes of Section 16 except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose. Shares held by Bullfrog Capital, L.P. ("Bullfrog"), for itself and as nominee for Bullfrog Founder Fund, L.P. ("Bullfrog FF"). Bullfrog Capital GP, L.P. ("BF GP") is the general partner of Bullfrog and Bullfrog FF, and Bullfrog Capital GP, Ltd. ("BF UGP") is the general partner of BF GP. The Reporting Person is a director of BF UGP and disclaims beneficial ownership of such shares for purposes of Section 16 except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose. On August 27, 2025, Bullfrog executed a collar hedging arrangement relating to the Shares through a broker-dealer on the Chicago Board Options Exchange. The collar arrangement consisted of Bullfrog (i) purchasing 30,000 European-style listed FLEX put option contracts on the Shares with a strike price equal to $100.00 and (ii) selling 30,000 European-style listed FLEX call option contracts on the Shares with a strike price equal to $150.00. The option contracts will be physically settled and will expire on December 31, 2027.
Key Figures
Total shares sold: 1,233,808 shares
Sale block 1: 539,180 shares at $104.3349/share
Sale block 2: 554,108 shares at $103.4194/share
+5 more
8 metrics
Total shares sold
1,233,808 shares
Net open-market sales of Class A Common Stock
Sale block 1
539,180 shares at $104.3349/share
Class A Common Stock sold by Malka Trust-associated entity
Sale block 2
554,108 shares at $103.4194/share
Class A Common Stock sold by trust entities
Sale block 3
80,520 shares at $104.0306/share
Additional Class A Common Stock sale via trusts
Malka Trust holdings
3,000,000 shares
Shares held by Malka Kleiner Revocable Trust after transactions
Aphrodite Trust holdings
325,411 shares each
Shares held by each Aphrodite Trust after transactions
Collar put leg
30,000 shares at $100.00 strike
European-style FLEX put options purchased, expiring December 31, 2027
Collar call leg
30,000 shares at $150.00 strike
European-style FLEX call options sold, expiring December 31, 2027
Key Terms
collar hedging arrangement, European-style listed FLEX put option, European-style listed FLEX call option, physically settled, +1 more
5 terms
collar hedging arrangement financial
"Bullfrog executed a collar hedging arrangement relating to the Shares"
European-style listed FLEX put option financial
"purchasing 30,000 European-style listed FLEX put option contracts"
European-style listed FLEX call option financial
"selling 30,000 European-style listed FLEX call option contracts"
physically settled financial
"The option contracts will be physically settled and will expire"
Section 16 regulatory
"beneficial ownership of such shares for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What did Robinhood (HOOD) director-linked entities sell in this Form 4/A?
Entities linked to director Malka Meyer sold 1,233,808 shares of Robinhood Class A Common Stock in open-market transactions. These sales were executed through trusts, including the Malka Kleiner Revocable Trust and the Aphrodite Trusts, at weighted-average prices slightly above $103 per share.
Who are the entities associated with Robinhood (HOOD) director Malka Meyer in this Form 4/A?
The filing references the Aphrodite Trusts, the Malka Kleiner Revocable Trust, the Tibbir Trust, Tibbir Holdings LLC, and Bullfrog Capital funds. Meyer serves as trustee or manager in various roles but repeatedly disclaims beneficial ownership except for any pecuniary interest in these vehicles.