[Form 4] HUBSPOT, INC. Insider Trading Activity

Rhea-AI Filing Summary

HubSpot, Inc. (HUBS) – Form 4 insider filing

Director and co-founder Brian Halligan reported an internal tax-related share withholding on 01 July 2025. The company withheld 717 common shares at a price of $557.86 per share (transaction code F) to cover payroll taxes triggered by the vesting of restricted stock units (RSUs). After the transaction, Halligan’s direct ownership stands at 523,267 common shares. No open-market purchase or sale occurred, and there were no derivative security transactions disclosed.

The filing is routine, does not reflect a discretionary sale, and has no material impact on HubSpot’s operations, capital structure, or market outlook.

Insights

Securities Analyst

TL;DR: Routine RSU tax withholding; immaterial to HUBS valuation.

The sole transaction (code F) is an automatic share surrender to satisfy withholding taxes upon RSU vesting. Only 717 shares—roughly 0.14% of Halligan’s existing stake—were involved, resulting in no cash proceeds and negligible float impact. Such events are common among executive equity programs and carry no signalling value regarding Halligan’s view of HubSpot’s prospects. Investors should treat the filing as administrative rather than a directional trade.

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
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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^*

Halligan Brian

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		F(1)		717	D	$557.86	523,267	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. Shares withheld by Issuer to cover taxes associated with settlement of restricted stock units.

	/s/ Joseph Theis, attorney-in-fact	07/03/2025
	** 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 did Brian Halligan disclose in the July 2025 Form 4 for HUBS?

He reported 717 shares withheld by HubSpot on 01 July 2025 to cover taxes from RSU settlement.

Was the Form 4 transaction an open-market sale of HUBS stock?

No. The transaction code F denotes shares automatically withheld for taxes, not a discretionary sale.

How many HubSpot shares does Halligan own after the transaction?

He now directly holds 523,267 common shares.

Does the filing impact HubSpot’s share count or earnings?

It has no material impact; the shares were already issued and withheld internally.

Why is transaction code F considered non-directional?

Code F indicates mandatory share surrender for tax withholding, offering no insight into the insider’s sentiment.