Robinhood (HOOD) director’s trust sells 65,694 converted Class A shares

Rhea-AI Filing Summary

Robinhood Markets, Inc. director Baiju Bhatt, through the Baiju Bhatt Living Trust, reported a planned set of trades in Robinhood stock. On February 23, 2026, the Living Trust converted 65,694 shares of Class B Common Stock into the same number of Class A shares at a stated price of $0.00 per share as a derivative conversion.

Under a Rule 10b5-1 trading plan adopted by the Living Trust on November 13, 2025, the Trust then sold an aggregate of 65,694 Class A shares in multiple open-market transactions, at reported prices such as $71.9346, $72.8063, $74.47, and $74.82 per share. After these transactions, the Living Trust held 47,198,482 shares of Class B Common Stock indirectly, while Bhatt also held 1,798 Class A shares directly.

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^*

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)
02/23/2026

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	02/23/2026		C		65,694	A	(1)	65,694	I	By Living Trust
Class A Common Stock	02/23/2026		S(2)		42,620	D	$71.9346(3)	23,074	I	By Living Trust
Class A Common Stock	02/23/2026		S(2)		20,574	D	$72.8063(4)	2,500	I	By Living Trust
Class A Common Stock	02/23/2026		S(2)		2,400	D	$74.47(5)	100	I	By Living Trust
Class A Common Stock	02/23/2026		S(2)		100	D	$74.82(6)	0	I	By Living Trust
Class A Common Stock								1,798	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
Class B Common Stock	(1)	02/23/2026		C			65,694	(1)	(1)	Class A Common Stock	65,694	$0	47,198,482	I	By Living Trust

Explanation of Responses:

1. As part of the transactions effected on February 23, 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 65,694 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 $71.48 to $72.47. 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 $72.48 to $73.44. 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 $73.82 to $74.78. 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 $74.82 to $74.82. 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	02/25/2026
	** 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.

FAQ

What did Robinhood (HOOD) director Baiju Bhatt’s trust report in this Form 4?

The Baiju Bhatt Living Trust reported a planned conversion and sale of Robinhood shares. It converted 65,694 Class B shares into Class A, then sold 65,694 Class A shares in multiple open-market trades under a Rule 10b5-1 trading plan.

How many Robinhood (HOOD) shares did the Baiju Bhatt Living Trust sell on February 23, 2026?

The Baiju Bhatt Living Trust sold an aggregate of 65,694 Class A Common Shares. These sales followed an automatic conversion of the same number of Class B shares into Class A shares, executed under the Trust’s pre-established Rule 10b5-1 trading plan.

At what prices were the Robinhood (HOOD) shares sold by the Baiju Bhatt Living Trust?

The Trust’s Form 4 reports weighted-average sale prices of $71.9346, $72.8063, $74.47, and $74.82 per share. Footnotes state these were executed in multiple trades throughout the day at various prices within specified ranges.

What is the Rule 10b5-1 trading plan referenced in the Robinhood (HOOD) filing?

The filing states the transactions were made under a Rule 10b5-1 trading plan adopted by the Baiju Bhatt Living Trust on November 13, 2025. Such plans pre-schedule trades, allowing insiders to sell shares pursuant to predetermined instructions.

How many Robinhood (HOOD) shares does Baiju Bhatt’s Living Trust hold after these trades?

After the February 23, 2026 transactions, the Baiju Bhatt Living Trust held 47,198,482 shares of Class B Common Stock indirectly. The Trust’s indirect ownership of Class A shares from this specific set of trades was reduced to zero following the reported sales.

What Robinhood (HOOD) holdings does Baiju Bhatt report in his own name after the Form 4 transactions?

Beyond the Living Trust holdings, Baiju Bhatt reports 1,798 shares of Class A Common Stock held directly. This direct position is separate from the 47,198,482 Class B shares held indirectly through the Baiju Bhatt Living Trust.