Was Baiju Bhatt’s Robinhood share sale made under a Rule 10b5-1 plan?

Yes. The filing states that the April 16, 2026 transactions were effected under a Rule 10b5‑1 trading plan adopted by the Baiju Bhatt Living Trust on November 13, 2025, indicating the sales were pre‑scheduled rather than opportunistic market timing.

Bhatt Trust trims 57,261 Robinhood (HOOD) shares under Rule 10b5-1 plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Robinhood Markets director Baiju Bhatt, through the Baiju Bhatt Living Trust, reported pre‑planned transactions in Robinhood Class A and Class B Common Stock. On April 16, 2026, the Living Trust sold an aggregate of 57,261 shares of Class B Common Stock under a Rule 10b5‑1 trading plan adopted on November 13, 2025. These sales automatically converted the same number of shares into Class A Common Stock upon execution.

The Form 4 shows multiple open‑market sales of Class A shares at weighted‑average prices ranging from about $84.59 to $88.36 per share, all attributed to the Living Trust. After the transactions, Bhatt also reports direct ownership of 2,778 Class A shares and indirect holdings of 47,073,799 Class B shares through the Living Trust, indicating that the reported activity represents a small portion of the trust’s overall position and was carried out under a pre‑arranged trading plan.

Insider Trade Summary 10b5-1

Net Seller: 57,261 shares ($4,946,061)

Net Sell 8 txns

Insider Bhatt Baiju

Role null

Sold 57,261 shs ($4.95M)

Type	Security	Shares	Price	Value
Conversion	Class B Common Stock	57,261	$0.00	--
Conversion	Class A Common Stock	57,261	$0.00	--
Sale	Class A Common Stock	6,400	$84.593	$541K
Sale	Class A Common Stock	11,400	$85.6176	$976K
Sale	Class A Common Stock	27,961	$86.5934	$2.42M
Sale	Class A Common Stock	10,000	$87.4843	$875K
Sale	Class A Common Stock	1,500	$88.3626	$133K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class B Common Stock — 47,073,799 shares (Indirect, By Living Trust); Class A Common Stock — 57,261 shares (Indirect, By Living Trust); Class A Common Stock — 2,778 shares (Direct, null)

Footnotes (1)

As part of the transactions effected on April 16, 2026 pursuant to the Rule 10b5-1 trading plan adopted by the Baiju Bhatt Living Trust ("Living Trust") on November 13, 2025 ("Bhatt 10b5-1 plan"), the Living Trust sold an aggregate of 57,261 shares of its Class B Common Stock, resulting in an automatic conversion of the same amount of shares into Class A Common Stock upon execution of the sales. This transaction was effected pursuant to the Bhatt 10b5-1 plan. This transaction was executed in multiple trades during the day at prices ranging from $84.06 to $85.05. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made. This transaction was executed in multiple trades during the day at prices ranging from $85.06 to $86.05. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made. This transaction was executed in multiple trades during the day at prices ranging from $86.06 to $87.05. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made. This transaction was executed in multiple trades during the day at prices ranging from $87.06 to $88.05. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made. This transaction was executed in multiple trades during the day at prices ranging from $88.06 to $89.00. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.

Key Figures

Shares sold: 57,261 shares Sale price range: $84.5930–$88.3626 per share Direct Class A holding: 2,778 shares +2 more

5 metrics

Shares sold 57,261 shares Aggregate Class B shares sold and converted on April 16, 2026

Sale price range $84.5930–$88.3626 per share Weighted-average prices for Class A open-market sales

Direct Class A holding 2,778 shares Class A Common Stock held directly after transactions

Indirect Class B holding 47,073,799 shares Class B Common Stock held by Living Trust after conversion

Converted shares 57,261 shares Class B shares automatically converted into Class A upon sale

Key Terms

Rule 10b5-1 trading plan, Class A Common Stock, Class B Common Stock, derivative conversion, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"pursuant to the Rule 10b5-1 trading plan adopted by the Baiju Bhatt Living Trust"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Class A Common Stock financial

"resulting in an automatic conversion of the same amount of shares into Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Class B Common Stock financial

"the Living Trust sold an aggregate of 57,261 shares of its Class B 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 conversion financial

"transaction_action": "derivative conversion""

weighted-average price financial

"The weighted-average price is reported above."

Form 4 Insider Transactions: What Each Field Means →

04/20/2026 - 06:07 PM

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
Estimated average burden
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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bhatt Baiju

(Last)

(First)

(Middle)

C/O ROBINHOOD MARKETS, INC.

85 WILLOW ROAD

(Street)

MENLO PARK

CALIFORNIA

94025

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Robinhood Markets, Inc. [ HOOD ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/16/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	04/16/2026		C		57,261	A	⁽¹⁾	57,261	I	By Living Trust
Class A Common Stock	04/16/2026		S⁽²⁾		6,400	D	$84.593⁽³⁾	50,861	I	By Living Trust
Class A Common Stock	04/16/2026		S⁽²⁾		11,400	D	$85.6176⁽⁴⁾	39,461	I	By Living Trust
Class A Common Stock	04/16/2026		S⁽²⁾		27,961	D	$86.5934⁽⁵⁾	11,500	I	By Living Trust
Class A Common Stock	04/16/2026		S⁽²⁾		10,000	D	$87.4843⁽⁶⁾	1,500	I	By Living Trust
Class A Common Stock	04/16/2026		S⁽²⁾		1,500	D	$88.3626⁽⁷⁾	0	I	By Living Trust
Class A Common Stock								2,778	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	⁽¹⁾	04/16/2026		C			57,261	⁽¹⁾	⁽¹⁾	Class A Common Stock	57,261	$0	47,073,799	I	By Living Trust

Explanation of Responses:

1. As part of the transactions effected on April 16, 2026 pursuant to the Rule 10b5-1 trading plan adopted by the Baiju Bhatt Living Trust ("Living Trust") on November 13, 2025 ("Bhatt 10b5-1 plan"), the Living Trust sold an aggregate of 57,261 shares of its Class B Common Stock, resulting in an automatic conversion of the same amount of shares into Class A Common Stock upon execution of the sales.

2. This transaction was effected pursuant to the Bhatt 10b5-1 plan.

3. This transaction was executed in multiple trades during the day at prices ranging from $84.06 to $85.05. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.

4. This transaction was executed in multiple trades during the day at prices ranging from $85.06 to $86.05. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.

5. This transaction was executed in multiple trades during the day at prices ranging from $86.06 to $87.05. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.

6. This transaction was executed in multiple trades during the day at prices ranging from $87.06 to $88.05. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.

7. This transaction was executed in multiple trades during the day at prices ranging from $88.06 to $89.00. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.

Remarks:

	/s/ Matthew Yorkavich, attorney-in- fact for Baiju Bhatt	04/20/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Baiju Bhatt report in the latest Form 4 for HOOD?

Baiju Bhatt reported that his Living Trust sold 57,261 shares of Robinhood Class B Common Stock, automatically converting them into the same number of Class A shares. The trades occurred on April 16, 2026 under a pre‑arranged Rule 10b5‑1 trading plan.

How many Robinhood (HOOD) shares did the Bhatt Living Trust sell and at what prices?

The Bhatt Living Trust sold 57,261 shares in multiple open‑market transactions. Reported weighted‑average prices for Class A Common Stock ranged from about $84.59 to $88.36 per share, with detailed trade‑by‑trade pricing available on request from the reporting person.

How many Robinhood shares does Baiju Bhatt still hold after these transactions?

After the reported trades, Baiju Bhatt reports direct ownership of 2,778 Class A shares and indirect ownership of 47,073,799 Class B shares through the Living Trust. This shows the 57,261‑share sale is small relative to his remaining indirect Class B position.

What is the relationship between the Class B sale and Class A shares in this HOOD Form 4?

According to the footnotes, the Living Trust sold Class B Common Stock, and those sales automatically converted 57,261 Class B shares into the same number of Class A shares upon execution, reflecting a derivative conversion alongside the open‑market sale activity.