[Form 4] Robinhood Markets, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Robinhood (NASDAQ:HOOD) filed a Form 4 showing Chief Brokerage Officer Steven M. Quirk sold 92,257 Class A shares on 06/25/2025 at a weighted-average price of $84.96, generating about $7.8 million in proceeds. The sale was executed under a Rule 10b5-1 trading plan adopted on 11/12/2024. Following the transaction, Quirk’s direct ownership dropped from 228,621 to 136,364 shares, a reduction of roughly 40%. No derivative transactions or purchases were reported, and the filing notes price ranges of $84.93–$85.15 with full trade details available upon request.

Positive

• None.

Negative

• Chief Brokerage Officer Steven M. Quirk sold 92,257 Class A shares (~$7.8 million), trimming his direct stake by ~40%, a potential bearish insider signal

Insights

Insider Trading Analyst

TL;DR: $7.8M executive sale cuts stake by ~40%, bearish signal despite 10b5-1 plan.

Large-volume Form 4 sales often foreshadow reduced management conviction. Quirk’s disposal equals about 10 days of average HOOD trading volume and materially lowers his equity exposure. Although pre-planned under Rule 10b5-1, the eight-month gap between plan adoption and execution suggests active liquidity management rather than routine diversification. With no offsetting purchases or option exercises, the transaction leans negative for near-term sentiment; further insider selling would reinforce the bearish read-through.

Corporate Governance Specialist

TL;DR: Planned sale limits governance risk; size still notable.

The 10b5-1 framework provides regulatory safe harbor and improves transparency, mitigating typical governance concerns around insider disposals. Quirk’s undertaking to furnish full trade details and the absence of derivative activity align with best-practice disclosure. However, the magnitude—over $7 million and a 40% stake reduction—may draw investor scrutiny regarding executive alignment if performance softens. No immediate red flags emerge, but monitoring compliance with executive ownership guidelines remains prudent.

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).

X

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^*

Quirk Steven M.

(Last) (First) (Middle)

C/O ROBINHOOD MARKETS, INC.

85 WILLOW ROAD

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025

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	06/25/2025		S(1)		92,257	D	$84.9628(2)	136,364	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 12, 2024.

2. This transaction was executed in multiple trades during the day at prices ranging from $84.93 to $85.15. 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/ Brandon Webb, attorney-in-fact for Steven M. Quirk	06/27/2025
	** 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.
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.

FAQ

How many Robinhood shares did Steven M. Quirk sell on June 25, 2025?

He disposed of 92,257 Class A shares according to the Form 4.

What was the weighted-average sale price for HOOD insider transaction?

The shares were sold at a weighted-average price of $84.9628, with trades between $84.93 and $85.15.

What was the total dollar value of the insider sale reported by HOOD?

The transaction generated approximately $7.8 million in gross proceeds.

How many shares does Steven M. Quirk still own after the transaction?

He now beneficially owns 136,364 Class A shares directly.

Was the HOOD share sale executed under a Rule 10b5-1 plan?

Yes. The filing states the trade was made under a 10b5-1 plan adopted on November 12, 2024.

What percentage of Quirk’s previous holdings were sold in this transaction?

The 92,257 shares represent roughly 40% of his pre-sale holdings.