[Form 4] HUBSPOT, INC. Insider Trading Activity

Rhea-AI Filing Summary

Yamini Rangan, Chief Executive Officer and Director of HubSpot, Inc. (HUBS), reported a sale of company stock on 09/08/2025. The filing shows 477 shares were sold under transaction code S pursuant to a 10b5-1 trading plan adopted 12/05/2024, at a reported price of $500 per share. After the sale the reporting person is shown as beneficially owning 62,291 shares directly and 8,170 shares indirectly via the KK 2024 GRAT Grantor Retained Annuity Trust dated March 1, 2024, for which the reporting person is trustee. The Form 4 was signed by an attorney-in-fact on 09/10/2025.

Positive

• Sale executed under a 10b5-1 trading plan, indicating pre-established, rule-compliant timing
• Clear disclosure of direct and indirect beneficial ownership (62,291 direct; 8,170 indirect via GRAT)

Negative

• Insider sold shares (477 shares), which is a reduction in direct holdings
• Filing lacks context about the proportion of the sale relative to overall compensation or longer-term ownership intentions

Insights

Financial Analyst

TL;DR: Insider sale executed under a 10b5-1 plan; reporting shows modest disposal versus total reported holdings.

The Form 4 documents a sale of 477 shares by the CEO executed under a pre-established 10b5-1 plan adopted 12/05/2024, which indicates the sale followed a trading plan rather than ad hoc timing. The report lists 62,291 shares held directly and 8,170 shares held indirectly via a GRAT, providing clear disclosure of the reporting person’s current beneficial ownership. Based solely on the filing, there is transparent compliance with Section 16 reporting requirements; the filing does not include additional financial context or indicate any change to compensation arrangements.

Corporate Governance Expert

TL;DR: Disclosure aligns with governance best practices by noting a 10b5-1 plan and indirect holdings via a trust.

The Form 4 explicitly states the sale was effected pursuant to a 10b5-1 trading plan adopted on 12/05/2024 and discloses indirect ownership through the KK 2024 GRAT with the reporting person as trustee. These elements support clear governance disclosure of intent and structural ownership. The document is limited to transaction reporting and does not provide any corporate decision-making rationale or additional governance actions.

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^*

Rangan Yamini

(Last) (First) (Middle)

C/O HUBSPOT, INC.

2 CANAL PARK

(Street)

CAMBRIDGE MA 02141

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HUBSPOT INC [ HUBS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer & Pres

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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
Common Stock	09/08/2025		S(1)		477	D	$500	62,291	D
Common Stock								8,170	I	See Footnote.(2)

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. This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 12/5/2024.

2. Shares held by the KK 2024 GRAT Grantor Retained Annuity Trust dated March 1, 2024 for which the Reporting Person is the trustee.

	/s/ Joseph Theis, attorney-in-fact	09/10/2025
	** 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

Who filed the Form 4 for HUBS and what is their role?

The Form 4 was filed for Yamini Rangan, who is listed as Chief Executive Officer and Director of HubSpot, Inc.

What transaction was reported on the HUBS Form 4 filed here?

The filing reports a sale of 477 shares on 09/08/2025, reported at a price of $500 per share and marked with transaction code S.

Was the HUBS sale part of a 10b5-1 trading plan?

Yes. The Form 4 states the transaction was effected pursuant to a 10b5-1 trading plan adopted on 12/05/2024.

How many HUBS shares does the reporting person beneficially own after the reported transaction?

Following the transaction the reporting person beneficially owns 62,291 shares directly and 8,170 shares indirectly through the KK 2024 GRAT.

What is the nature of the indirect ownership disclosed in the HUBS Form 4?

Indirect holdings are held by the KK 2024 GRAT Grantor Retained Annuity Trust dated March 1, 2024, for which the reporting person is the trustee.

When was the Form 4 signed and by whom?

The Form 4 was signed by an attorney-in-fact, /s/ Joseph Theis, on 09/10/2025.