Bhatt trust sells 67,422 Robinhood shares under plan

Robinhood Markets director Baiju Bhatt, through the Baiju Bhatt Living Trust, converted 67,422 shares of Class B Common Stock into the same number of Class A shares and sold all 67,422 Class A shares in open-market trades.

Rhea-AI Filing Summary

Robinhood Markets director Baiju Bhatt, through the Baiju Bhatt Living Trust, converted 67,422 shares of Class B Common Stock into the same number of Class A shares and sold all 67,422 Class A shares in open-market trades. The weighted-average sale prices ranged from $69.92 to $73.09, and the transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted by the Living Trust on November 13, 2025. Following these transactions, the Living Trust continues to hold 47,131,060 Class B shares, while Bhatt also holds 1,798 Class A shares directly.

Insider Trade Summary 10b5-1

Exercise and Sale: 67,422 shares ($4.81M approx. pre-tax spread)

Exercise and Sale 7 txns

Insider Bhatt Baiju

Role Director

Sold 67,422 shs ($4.81M)

Approx. gross sale proceeds $4.81M

Approx. exercise cost $0.00

Approx. pre-tax spread $4.81M

Type	Security	Shares	Price	Value
Conversion	Class B Common Stock	67,422	$0.00	$0.00
Conversion	Class A Common Stock	67,422	$0.00	$0.00
Sale	Class A Common Stock	28,945	$70.5593	$2.04M
Sale	Class A Common Stock	18,666	$71.4686	$1.33M
Sale	Class A Common Stock	19,711	$72.2869	$1.42M
Sale	Class A Common Stock	100	$73.09	$7K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class B Common Stock — 47,131,060 contracts (Indirect, By Living Trust); Class A Common Stock — 0 shares (Indirect, By Living Trust); Class A Common Stock — 1,798 shares (Direct)

Footnotes (6)

1. F1. As part of the transactions effected on March 20, 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 67,422 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. F2. This transaction was effected pursuant to the Bhatt 10b5-1 plan.
3. F3. This transaction was executed in multiple trades during the day at prices ranging from $69.92 to $70.90. 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. F4. This transaction was executed in multiple trades during the day at prices ranging from $70.94 to $71.93. 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. F5. This transaction was executed in multiple trades during the day at prices ranging from $71.94 to $72.86. 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. F6. This transaction was executed in multiple trades during the day at prices ranging from $73.09 to $73.09. 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.

FAQ

What insider transactions did HOOD director Baiju Bhatt report on March 20, 2026?

Baiju Bhatt reported converting 67,422 Robinhood Class B shares into 67,422 Class A shares, then selling all 67,422 Class A shares in multiple open-market trades on March 20, 2026 through his Living Trust.

At what prices did the Bhatt Living Trust sell Robinhood (HOOD) shares?

The Bhatt Living Trust’s Robinhood sales were executed in multiple trades at weighted-average prices, with transaction ranges from $69.92 to $73.09 per share, according to the detailed trade ranges disclosed in the Form 4 footnotes.

Were Baiju Bhatt’s March 2026 HOOD share sales pre-planned under Rule 10b5-1?

Yes. The filing states the March 20, 2026 transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the Baiju Bhatt Living Trust on November 13, 2025, indicating the trades were pre-scheduled rather than opportunistic.

How many Robinhood shares does the Bhatt Living Trust hold after these transactions?

After the March 20, 2026 trades, the Baiju Bhatt Living Trust holds 47,131,060 shares of Robinhood Class B Common Stock. It no longer holds Class A shares from this conversion-and-sale sequence, based on the reported post-transaction balances.

Does Baiju Bhatt personally hold any Robinhood (HOOD) Class A shares after the reported trades?

Yes. Separate from the Living Trust, Baiju Bhatt is reported as directly holding 1,798 shares of Robinhood Class A Common Stock after the March 20, 2026 transactions, according to the holding line in the Form 4 data.

What is the net effect of Baiju Bhatt’s March 20, 2026 transactions in HOOD stock?

The net effect is a conversion of 67,422 Class B shares into Class A, followed by open-market sales of all 67,422 Class A shares. Overall, this results in a net sale of 67,422 shares while leaving a large Class B position intact.

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Accepted by SEC EDGAR 03/24/2026 - 04:31 PM Learn about SEC filing dates

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 CALIFORNIA 94025

(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)
03/20/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/20/2026		C		67,422	A	(1)	67,422	I	By Living Trust
Class A Common Stock	03/20/2026		S(2)		28,945	D	$70.5593(3)	38,477	I	By Living Trust
Class A Common Stock	03/20/2026		S(2)		18,666	D	$71.4686(4)	19,811	I	By Living Trust
Class A Common Stock	03/20/2026		S(2)		19,711	D	$72.2869(5)	100	I	By Living Trust
Class A Common Stock	03/20/2026		S(2)		100	D	$73.09(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)	03/20/2026		C			67,422	(1)	(1)	Class A Common Stock	67,422	$0	47,131,060	I	By Living Trust

Explanation of Responses:

1. As part of the transactions effected on March 20, 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 67,422 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 $69.92 to $70.90. 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 $70.94 to $71.93. 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 $71.94 to $72.86. 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 $73.09 to $73.09. 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	03/24/2026
	** 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)