Roblox Insider Carvalho Nets $6.5M, Retains 1.15M Shares

Rhea-AI Filing Summary

Roblox Corporation (RBLX) director Christopher Carvalho has disclosed an option exercise and share sale in a Form 4 filing dated 06/18/2025.

• On 06/16/2025 he exercised 64,925 fully-vested stock options at an exercise price of $0.063, converting them into an equal number of Class A common shares.
• The same day, acting under a Rule 10b5-1 trading plan adopted 05/28/2024, he sold the entire 64,925 shares at an average price of $100.0807, generating gross proceeds of roughly $6.5 million.
• Following the transaction, Carvalho holds 986,913 shares directly and 160,968 shares indirectly through a family trust, for an aggregate beneficial ownership of about 1.15 million shares.
• The director now reports no remaining derivative securities tied to the exercised option, which expires 12/15/2025.

The filing represents a sale of approximately 6% of his direct holdings and does not contain any company-level financial metrics or operational updates. Investors typically view such 10b5-1 sales as neutral to mildly negative signalling events, absent additional context.

Positive

• Director retains a substantial 1.15 million-share stake, signalling ongoing alignment with shareholder interests.
• Sale executed under a Rule 10b5-1 plan, reducing concerns about opportunistic trading and insider information misuse.

Negative

• Insider sold 64,925 shares worth about $6.5 million, which some investors may interpret as reduced confidence in near-term share performance.

Insights

Securities Analyst

TL;DR: Routine 10b5-1 sale worth $6.5 M; modest 6% trim, limited signalling impact.

The exercise-and-sell sequence realises gains on options priced at $0.063, an immaterial strike relative to the $100 sale price. Although the $6.5 million disposal may catch the market’s eye, the director retains more than 1 million shares, suggesting continued alignment with shareholders. The predefined 10b5-1 plan further reduces informational risk, making the event largely neutral for valuation. Volume equates to less than 0.1% of Roblox’s public float, so trading liquidity should absorb it without price pressure.

Corporate Governance Expert

TL;DR: Governance-compliant sale under pre-planned program; no red flags detected.

Execution under a 10b5-1 plan adopted a year earlier demonstrates adherence to best‐practice insider-trading safeguards. No simultaneous insider cluster selling is indicated, and Carvalho’s remaining stake reinforces long-term commitment. From a governance standpoint, the disclosure is correctly completed, time-stamped, and electronically signed. Therefore, the transaction poses no material governance concerns or heightened regulatory risk.

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

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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).

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^*

Carvalho Christopher

(Last) (First) (Middle)

C/O ROBLOX CORPORATION

3150 S. DELAWARE ST.

(Street)

SAN MATEO CA 94403

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Roblox Corp [ RBLX ]

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)
06/16/2025

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
Class A Common Stock	06/16/2025		M(1)		64,925	A	$0.063	1,051,838(2)	D
Class A Common Stock	06/16/2025		S(1)		64,925	D	$100.0807(3)	986,913(2)	D
Class A Common Stock								160,968	I	See Footnotes(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$0.063	06/16/2025		M			64,925	(5)	12/15/2025	Class A Common Stock	64,925	$0	0	D

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on May 28, 2024.

2. A portion of these securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.

3. The price reported in column 4 is an average price. These shares were sold in multiple transactions at prices ranging from $100.00 to $100.26 , inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. These shares are held directly by the Christopher P. Carvalho Revocable Trust dated October 11, 2017 for which the reporting person serves as trustee. The reporting person may be deemed to have beneficial ownership of the shares held by the trust.

5. All of the shares subject to the option are fully vested and exercisable as of the date hereof.

Remarks:

	/s/Mark Reinstra Attorney-in-Fact for Christopher Carvalho	06/18/2025
	** 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).
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FAQ

How many Roblox (RBLX) shares did Director Christopher Carvalho sell?

He sold 64,925 Class A shares on 06/16/2025.

What was the average sale price disclosed in the Form 4?

The average sale price was $100.0807 per share.

Did the sale occur under a 10b5-1 trading plan?

Yes, the transactions were executed under a Rule 10b5-1 plan adopted on 05/28/2024.

How many Roblox shares does Carvalho own after the sale?

He beneficially owns 986,913 shares directly and 160,968 shares indirectly, totalling about 1.15 million.

Were any derivative securities remaining after the option exercise?

No. The 64,925-share option was fully exercised, leaving zero derivative securities outstanding for this grant.

What percentage of his direct holdings did Carvalho sell?

The 64,925 shares represent roughly 6% of his direct stake before the transaction.