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

Rhea-AI Filing Summary

Baiju Bhatt, a director of Robinhood Markets, Inc. (HOOD), reported two equity transactions. On 09/30/2025 he was granted 87 Class A shares under the Non-Employee Director Compensation Program in lieu of cash fees; those shares were fully vested on grant. On 10/01/2025 800 restricted stock units (RSUs) vested and converted one-for-one into Class A common stock, increasing his direct beneficial ownership to 2,402 shares. The RSUs were part of a 3,202-RSU grant awarded on 06/25/2025, with the remainder scheduled to vest in three equal quarterly installments (and the final installment no later than the day before the 2026 annual meeting), subject to continued service and certain acceleration conditions.

Positive

• 87 Class A shares were granted and fully vested on grant
• 800 RSUs vested and converted one-for-one into Class A common stock on 10/01/2025
• Reporting Person's direct beneficial ownership increased to 2,402 Class A shares
• Original award size of 3,202 RSUs disclosed with a clear vesting schedule through the 2026 annual meeting

Negative

• None.

Insights

Corporate Governance Analyst

Director received equity compensation tied to service and standard vesting.

The Form 4 shows routine director compensation: 87 shares were issued in lieu of cash fees and were immediately vested on 09/30/2025. This reflects the company's established Non-Employee Director Compensation Program and use of equity to conserve cash.

The filing is signed by an attorney-in-fact on 10/02/2025, and reports direct beneficial ownership of 2,402 Class A shares after the transactions.

Compensation & Equity Specialist

RSU grant mechanics and vesting schedule are disclosed precisely.

The Reporting Person received a 3,202-RSU award on 06/25/2025 with one-quarter vesting on 10/01/2025 and three additional quarterly installments thereafter, with a contractual latest vesting cutoff tied to the 2026 annual meeting. The 800 RSUs that vested converted to 800 shares at $0 exercise price upon settlement.

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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Bhatt Baiju

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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	09/30/2025		A		87	A	(1)	87	D
Class A Common Stock	10/01/2025		M		800	A	(2)	887	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
Restricted Stock Units	(2)	10/01/2025		M			800	(3)	(3)	Class A Common Stock	800	$0	2,402	D

Explanation of Responses:

1. On September 30, 2025, the Reporting Person was automatically granted 87 shares of Class A under the Non-Employee Director Compensation Program of Robinhood Markets, Inc. ("Robinhood"), which permits directors to elect to receive payment of quarterly director fees in the form of stock, and Robinhood's 2021 Omnibus Incentive Plan. This grant was made in lieu of cash fees, based on the September 30, 2025 closing price of $143.18 per share of Class A Common Stock, and these shares were fully vested upon grant.

2. Restricted stock units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.

3. On June 25, 2025, the Reporting Person was granted 3,202 RSUs under Robinhood's 2021 Omnibus Incentive Plan. One-fourth (1/4) of these RSUs vested on October 1, 2025, with the remainder vesting in three (3) equal quarterly installments thereafter (except the final installment will vest no later than the day before Robinhood's 2026 annual meeting of stockholders), in each case subject to the Reporting Person's continued service with Robinhood through the applicable vesting date and subject to accelerated vesting in certain circumstances.

Remarks:

	/s/ Matthew Yorkavich, attorney-in- fact for Baiju Bhatt	10/02/2025
	** 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

What did Baiju Bhatt report on the Form 4 for HOOD?

He reported receipt of 87 Class A shares issued in lieu of cash fees on 09/30/2025 and settlement of 800 RSUs into 800 Class A shares on 10/01/2025.

How many RSUs was Baiju Bhatt originally granted and when?

He was granted 3,202 RSUs on 06/25/2025 under Robinhood's 2021 Omnibus Incentive Plan.

What is Baiju Bhatt's beneficial ownership after these transactions?

The Form 4 reports direct beneficial ownership of 2,402 Class A shares following the reported transactions.

When will the remaining RSUs vest?

One-fourth vested on 10/01/2025; the remainder vests in three equal quarterly installments thereafter, with the final installment vesting no later than the day before Robinhood's 2026 annual meeting, subject to continued service and certain acceleration conditions.

Were the 87 shares vested or subject to restrictions?

The 87 shares granted on 09/30/2025 were issued in lieu of cash fees and were fully vested upon grant.