Bullfrog fund tied to Robinhood (HOOD) director sets FLEX put hedge across strikes

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Robinhood Markets director Meyer Malka, through investment entities associated with Bullfrog Capital, reported a set of hedging transactions in derivatives tied to Robinhood Class A common stock. On May 22, 2026, Bullfrog executed three European-style listed FLEX put option contracts, each referencing 30,000 shares.

The hedge involved selling 30,000 put options with a strike price of $100.00, buying 30,000 put options with a strike price of $75.00, and selling another 30,000 put options with a strike price of $45.00. Each contract was priced at $74.65 and will be physically settled, expiring on December 31, 2027.

The filing explains that the underlying shares are held by Bullfrog Capital, L.P. and related entities. Malka is a director of the ultimate general partner and disclaims beneficial ownership of the shares except to the extent of any pecuniary interest.

Insider Trade Summary

3 transactions reported

Net Sell 3 txns

Insider Malka Meyer

Role null

Bought 30,000 shs ($0.00)

Sold 60,000 shs ($0.00)

Type	Security	Shares	Price	Value
Sale	Put option (obligation to buy)	30,000	$0.00	--
Purchase	Put option (right to sell)	30,000	$0.00	--
Sale	Put option (obligation to buy)	30,000	$0.00	--

Holdings After Transaction: Put option (obligation to buy) — 30,000 shares (Indirect, By Bullfrog); Put option (right to sell) — 30,000 shares (Indirect, By Bullfrog)

Footnotes (1)

On May 22, 2026, Bullfrog executed certain hedging contracts (the "Contracts") relating to the Class A Common Stock of Robinhood Markets, Inc. (the "Shares") through a broker-dealer on the Chicago Board Options Exchange. The Contracts consisted of Bullfrog (i) selling 30,000 European-style listed FLEX put option contracts on the Shares with a strike price equal to $100.00, (ii) purchasing 30,000 European-style listed FLEX put option contracts on the Shares with a strike price equal to $75.00 and (iii) selling 30,000 European-style listed FLEX put option contracts on the Shares with a strike price equal to $45.00. The transaction price of each of the Contracts was $74.65. Each of the Contracts will be physically settled and will expire on December 31, 2027. The Shares are held by Bullfrog Capital, L.P. ("Bullfrog"), for itself and as nominee for Bullfrog Founder Fund, L.P. ("Bullfrog FF"). Bullfrog Capital GP, L.P. ("BF GP") is the general partner of Bullfrog and Bullfrog FF, and Bullfrog Capital GP, Ltd. ("BF UGP") is the general partner of BF GP. The Reporting Person is a director BF UGP and disclaims beneficial ownership of the Shares for purposes of Section 16 except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose.

Key Figures

Sold FLEX puts strike: $100.00 Purchased FLEX puts strike: $75.00 Additional sold FLEX puts strike: $45.00 +3 more

6 metrics

Sold FLEX puts strike $100.00 European-style listed FLEX put options sold on 30,000 shares

Purchased FLEX puts strike $75.00 European-style listed FLEX put options bought on 30,000 shares

Additional sold FLEX puts strike $45.00 European-style listed FLEX put options sold on 30,000 shares

Options per leg 30,000 shares Underlying Robinhood Class A common stock per FLEX option leg

Contract price $74.65 Transaction price of each FLEX option contract

Expiration date December 31, 2027 Expiry for all reported FLEX put option contracts

Key Terms

FLEX put option, European-style, physically settled, hedging contracts, +1 more

5 terms

FLEX put option financial

"selling 30,000 European-style listed FLEX put option contracts on the Shares"

European-style financial

"selling 30,000 European-style listed FLEX put option contracts on the Shares"

physically settled financial

"Each of the Contracts will be physically settled and will expire on December 31, 2027"

hedging contracts financial

"Bullfrog executed certain hedging contracts (the "Contracts") relating to the Class A Common Stock"

pecuniary interest financial

"disclaims beneficial ownership of the Shares ... except to the extent of his pecuniary interest therein"

Form 4 Insider Transactions: What Each Field Means →

05/27/2026 - 05:40 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^*

Malka Meyer

(Last)

(First)

(Middle)

C/O RIBBIT CAPITAL

364 UNIVERSITY AVE.

(Street)

PALO ALTO

CALIFORNIA

94301

(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)
05/22/2026

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)

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)
Put option (obligation to buy)	$100	05/22/2026		S/K			30,000	⁽¹⁾	⁽¹⁾	Class A Common Stock	30,000	⁽¹⁾	30,000	I	By Bullfrog⁽²⁾
Put option (right to sell)	$75	05/22/2026		P/K		30,000		⁽¹⁾	⁽¹⁾	Class A Common Stock	30,000	⁽¹⁾	30,000	I	By Bullfrog⁽²⁾
Put option (obligation to buy)	$45	05/22/2026		S/K			30,000	⁽¹⁾	⁽¹⁾	Class A Common Stock	30,000	⁽¹⁾	30,000	I	By Bullfrog⁽²⁾

Explanation of Responses:

1. On May 22, 2026, Bullfrog executed certain hedging contracts (the "Contracts") relating to the Class A Common Stock of Robinhood Markets, Inc. (the "Shares") through a broker-dealer on the Chicago Board Options Exchange. The Contracts consisted of Bullfrog (i) selling 30,000 European-style listed FLEX put option contracts on the Shares with a strike price equal to $100.00, (ii) purchasing 30,000 European-style listed FLEX put option contracts on the Shares with a strike price equal to $75.00 and (iii) selling 30,000 European-style listed FLEX put option contracts on the Shares with a strike price equal to $45.00. The transaction price of each of the Contracts was $74.65. Each of the Contracts will be physically settled and will expire on December 31, 2027.

2. The Shares are held by Bullfrog Capital, L.P. ("Bullfrog"), for itself and as nominee for Bullfrog Founder Fund, L.P. ("Bullfrog FF"). Bullfrog Capital GP, L.P. ("BF GP") is the general partner of Bullfrog and Bullfrog FF, and Bullfrog Capital GP, Ltd. ("BF UGP") is the general partner of BF GP. The Reporting Person is a director BF UGP and disclaims beneficial ownership of the Shares for purposes of Section 16 except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose.

	/s/ Meyer Malka	05/27/2026
	** 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 insider derivatives did Robinhood (HOOD) director Meyer Malka report?

Meyer Malka reported Bullfrog Capital’s FLEX put option hedging in Robinhood shares. The structure combined sold and purchased European-style puts on 30,000 shares per leg, reflecting a derivatives hedge rather than direct trading in the underlying stock.

How many Robinhood (HOOD) options were involved in Bullfrog’s hedging contracts?

Bullfrog executed three FLEX put option positions, each tied to 30,000 Robinhood Class A shares. One leg was a purchased put, and two were written (sold) puts, all forming a structured hedge around different strike prices.

What strike prices were used in Bullfrog’s Robinhood (HOOD) FLEX put hedge?

The hedge used three strike levels: $100.00 and $45.00 for sold FLEX put options, and $75.00 for purchased FLEX put options. All were European-style listed contracts referencing Robinhood Class A common shares.

When do Bullfrog’s Robinhood (HOOD) FLEX put option contracts expire?

All of the FLEX put option contracts reported in the filing expire on December 31, 2027. The contracts are European-style and physically settled, meaning any exercise at expiry would involve delivery of Robinhood Class A shares.

What was the transaction price for Bullfrog’s Robinhood (HOOD) option hedge?

Each of the FLEX put option contracts tied to Robinhood shares was priced at $74.65. This single transaction price applied across all three option legs that made up the hedging structure reported in the insider filing.

Does Meyer Malka directly own the Robinhood (HOOD) shares referenced in the hedge?

The filing states the shares are held by Bullfrog Capital, L.P. and related funds. Malka is a director of the ultimate general partner and disclaims beneficial ownership except for any pecuniary interest he may have in those entities.