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

Rhea-AI Filing Summary

On July 2, 2025, director Baiju Bhatt filed a Form 4 reporting the automatic issuance of 133 fully-vested Class A shares of Robinhood Markets, Inc. (HOOD). The grant, valued at the June 30, 2025 closing price of $93.63, replaces quarterly board fees, implying an estimated compensation of about $12.5 thousand. After the award, Bhatt directly owns 10,518 Class A shares. No sales, purchases, or derivative transactions were disclosed, making this a routine, non-market, equity-based director fee settlement.

Insights

Financial Analyst

TL;DR: Routine director fee stock grant; immaterial to HOOD valuation.

The 133-share award equates to roughly $12k—negligible against Robinhood’s multi-billion-dollar market cap. Because it merely converts cash fees into equity, it neither signals insider buying conviction nor alters the supply-demand dynamics for HOOD shares. The filing is therefore neutral from a market-moving perspective.

Corporate Governance Expert

TL;DR: Equity compensation aligns director interests; governance-neutral.

Issuing stock in lieu of cash modestly strengthens director-shareholder alignment, but the volume is too small to materially enhance oversight incentives. No red flags or unusual structures appear, and the transaction complies with the 2021 Omnibus Incentive Plan. Overall, this is a standard governance practice with minimal strategic impact.

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 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)
06/30/2025

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	06/30/2025		A		133	A	(1)	10,518	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. On June 30, 2025, the Reporting Person was automatically granted 133 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 June 30, 2025 closing price of $93.63 per share of Class A Common Stock, and these shares were fully vested upon grant.

Remarks:

Bhatt POA

	/s/ Lucas Moskowitz, attorney-in-fact for Baiju Bhatt	07/02/2025
	** 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

How many Robinhood (HOOD) shares did Baiju Bhatt receive?

He was granted 133 Class A shares on June 30, 2025.

What was the value of the stock grant disclosed in the Form 4?

Based on the stated price of $93.63 per share, the grant was worth roughly $12,455.

Does the Form 4 indicate any Robinhood insider selling?

No. The filing shows only an acquisition of shares in lieu of cash fees; no sales were reported.

How many Robinhood shares does Baiju Bhatt now own?

Following the transaction, Bhatt directly holds 10,518 Class A shares.

Was the stock award part of a 10b5-1 trading plan?

The form does not check the 10b5-1 box, indicating this award was not executed under such a plan.