[Form 4] Reddit, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Reddit, Inc. (RDDT) – Form 4 filed 08/07/2025

CEO, President and 10% owner Steve Huffman, through The XYZ Revocable Trust, reported insider transactions dated 08/05/2025:

• Conversion (Code C): 14,000 Class B shares were converted into Class A at $0.
• Sales (Code S): The same 14,000 Class A shares were sold in 11 trades under a Rule 10b5-1 plan adopted 05/21/2024. Weighted-average prices for each block ranged from $198.00 to $208.38.

Post-sale, the trust holds 539,631 Class A shares (down from 553,631) and 3,600,915 convertible Class B shares. No additional securities were acquired, and no company operational data were disclosed.

Positive

• Sales executed under a pre-existing Rule 10b5-1 trading plan, demonstrating adherence to insider-trading best practices
• CEO retains substantial holdings (539,631 Class A and 3.6 M Class B shares), maintaining alignment with shareholder interests

Negative

• Insider selling by the CEO of 14,000 Class A shares, which can be perceived as a mild negative sentiment signal
• Direct Class A ownership decreased by approximately 2.5%, slightly reducing public-share alignment

Insights

Securities Analyst

TL;DR: Modest, pre-planned CEO sale; signals limited impact on Reddit’s equity structure.

The 14,000-share disposition equals roughly 2.5% of the trust’s direct Class A position and was executed under a previously disclosed 10b5-1 plan, mitigating concerns of opportunistic timing. Ownership concentration remains high, with over 3.6 million Class B shares still controlled, so governance influence is unchanged. From a liquidity perspective the transaction adds roughly US$2.8-2.9 million of market supply—immaterial to Reddit’s public float. No red flags such as margin calls or derivative hedges are evident. I view the filing as routine and not materially impactful to the investment thesis.

Corporate Governance Specialist

TL;DR: Insider sale small, plan-based; control structure intact.

The 1-for-1 conversion and subsequent sale leaves the dual-class structure unaffected—Huffman retains dominant voting power via Class B shares. Use of a Rule 10b5-1 plan aligns with best-practice governance, reducing litigation risk tied to short-swing profits. Because the disposal is modest and disclosed promptly, I classify the governance impact as neutral.

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^*

Huffman Steve Ladd

(Last) (First) (Middle)

C/O REDDIT, INC.

303 2ND STREET, SOUTH TOWER, 5TH FLOOR

(Street)

SAN FRANCISCO CA 94107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Reddit, Inc. [ RDDT ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO & President

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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	08/05/2025		C		14,000	A	$0	553,631	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		1,700(1)	D	$198(2)	551,931	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		1,802(1)	D	$199.22(3)	550,129	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		800(1)	D	$200.04(4)	549,329	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		800(1)	D	$201.06(5)	548,529	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		998(1)	D	$202.52(6)	547,531	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		2,000(1)	D	$203.38(7)	545,531	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		2,500(1)	D	$204.52(8)	543,031	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		1,700(1)	D	$205.58(9)	541,331	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		1,300(1)	D	$206.51(10)	540,031	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		300(1)	D	$207.68(11)	539,731	I	By The XYZ Revocable Trust
Class A Common Stock	08/05/2025		S		100(1)	D	$208.38	539,631	I	By The XYZ Revocable Trust

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	(12)	08/05/2025		C			14,000	(12)	(12)	Class A Common Stock	14,000	$0	3,600,915	I	By The XYZ Revocable Trust

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 21, 2024.

2. The sales were executed in multiple trades at prices ranging from $197.61 to $198.55. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price within the ranges set forth in footnotes (2) to (11) to this Form 4.

3. The sales were executed in multiple trades at prices ranging from $198.74 to $199.61.

4. The sales were executed in multiple trades at prices ranging from $199.77 to $200.73.

5. The sales were executed in multiple trades at prices ranging from $200.78 to $201.60.

6. The sales were executed in multiple trades at prices ranging from $201.92 to $202.88.

7. The sales were executed in multiple trades at prices ranging from $202.95 to $203.93.

8. The sales were executed in multiple trades at prices ranging from $204.02 to $204.97.

9. The sales were executed in multiple trades at prices ranging from $205.18 to $206.17.

10. The sales were executed in multiple trades at prices ranging from $206.18 to $206.93.

11. The sales were executed in multiple trades at prices ranging from $207.20 to $208.17.

12. The Class B Common Stock is convertible at any time at the option of the holder into the Issuer's Class A Common Stock on a one-to-one basis.

Remarks:

	/s/ Julie Rogers, Attorney-in-Fact	08/07/2025
	** 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

How many Reddit (RDDT) shares did CEO Steve Huffman sell?

He sold 14,000 Class A shares on 08/05/2025.

At what prices were the Reddit shares sold?

Weighted-average prices for each block ranged from $198.00 to $208.38, as detailed in the Form 4.

Was the transaction pre-planned under Rule 10b5-1?

Yes. The filing states all sales were made under a Rule 10b5-1 plan adopted on 05/21/2024.

How many Reddit shares does the trust hold after the sale?

After the sale, the trust beneficially owns 539,631 Class A shares and 3,600,915 Class B shares.

Does the sale affect Reddit’s dual-class voting structure?

No. The CEO’s sizable Class B holdings remain unchanged, so voting control is intact.