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

Rhea-AI Filing Summary

Robinhood Markets, Inc. director Meyer Malka reported entering into a variable share forward contract on Class A Common Stock of Robinhood (HOOD). The contract allows him to receive up to $89.3 million in cash during its term in exchange for pledging and potentially delivering up to 1,000,000 shares, while retaining dividend and voting rights in those shares during the pledge.

The number of shares or cash owed at settlement will depend on the volume weighted average price relative to a floor price of approximately $97.15 and a cap price of approximately $149.51, and will not exceed 1,000,000 shares. Settlement is expected in November 2027. The shares are held through Lassen Residential LLC, controlled by the Malka Kleiner Revocable Trust, for which Malka serves as trustee.

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

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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).

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 CA 94301

(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)
11/21/2025

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

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
Variable Share Forward Contract (obligation to sell)	(1)(2)(3)	11/21/2025		J/K(1)(2)(3)		1,000,000		(1)(2)(3)	(1)(2)(3)	Class A Common Stock	1,000,000(1)(2)(3)	(1)(2)(3)	1,000,000	I	By Trusts(4)

Explanation of Responses:

1. In accordance with the procedures described in the interpretive letters from the staff of the SEC to Goldman Sachs & Co. LLC, dated December 20, 1999 and to Bank of America, N.A., dated December 1, 2011, on November 21, 2025, the Reporting Person entered into a variable share forward contract (the "Contract") with an unaffiliated third party dealer with respect to the Class A Common Stock (the "Shares") of Robinhood Markets, Inc. Pursuant to the Contract, the Reporting Person may elect to receive cash payment during the term of the Contract of up to $89.3 million in exchange for agreeing to pledge and deliver to the dealer up to 1,000,000 of the Shares (the "Maximum Number of Shares") where the Reporting Person retains dividend and voting rights in such Shares during the term of the pledge, or an equivalent amount of cash if the Reporting Person elects cash settlement of the Contract.

2. The number of shares to be delivered (or amount of cash to be paid), will be determined based on the volume weighted average price per share of the Shares on or immediately prior to the valuation date (the "Settlement Price"), but will not exceed the Maximum Number of Shares.

3. The number of Shares to be delivered (or amount of cash to be paid) to the dealer at settlement will be determined as follows: (A) if the Settlement Price is less than or equal to approximately $97.15 (the "Floor Price"), the Reporting Person will deliver to the dealer the Maximum Number of Shares; (B) if the Settlement Price is less than or equal to approximately $149.51 (the "Cap Price"), but greater than the Floor Price, the Reporting Person will deliver to the dealer a variable number of Shares; and (C) if the Settlement Price is greater than the Cap Price, the Reporting Person will deliver to the dealer a number of Shares equal to (i) the Maximum Number of Shares, multiplied by (ii) a fraction, the numerator of which is the sum of (x) the Floor Price and (y) the Settlement Price minus the Cap Price, and the denominator of which is the Settlement Price. The Contract is expected to be settled in November 2027.

4. The Shares are held by Lassen Residential LLC, which is controlled by the Malka Kleiner Revocable Trust dated July 16, 2012 (the "Malka Trust"). The Reporting Person serves as trustee of the Malka Trust. The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16 of the Securities Exchange Act of 1934 ("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	11/25/2025
	** 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 transaction did Robinhood (HOOD) director Meyer Malka report on Form 4?

Meyer Malka reported entering into a variable share forward contract with an unaffiliated dealer involving Class A Common Stock of Robinhood Markets, Inc.

How many Robinhood (HOOD) shares are subject to the variable share forward contract?

The contract covers up to 1,000,000 shares of Robinhood Class A Common Stock, referred to as the Maximum Number of Shares.

What is the potential cash amount Meyer Malka may receive under the contract?

Under the contract, the reporting person may elect to receive up to $89.3 million in cash during the term in exchange for pledging and potentially delivering shares.

How are the settlement terms of Meyer Malka’s Robinhood forward contract determined?

The number of shares (or cash) to be delivered is based on the volume weighted average price on or around the valuation date, with pricing bands defined by a floor price of approximately $97.15 and a cap price of approximately $149.51.

When is the variable share forward contract on Robinhood (HOOD) expected to settle?

The contract is expected to be settled in November 2027, at which time the final share or cash obligations will be determined by the settlement formula.

Who holds the Robinhood shares covered by Meyer Malka’s forward contract?

The shares are held by Lassen Residential LLC, which is controlled by the Malka Kleiner Revocable Trust. Meyer Malka serves as trustee and disclaims beneficial ownership except to the extent of any pecuniary interest.

What rights does Meyer Malka retain in the pledged Robinhood shares during the contract?

During the term of the pledge, the reporting person retains dividend and voting rights with respect to the pledged shares, or an equivalent amount if cash settlement is elected.