Reddit (NYSE: RDDT) CEO trust converts 82,760 Class B shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Reddit, Inc. director and CEO Steve Huffman, through The XYZ Revocable Trust, converted 82,760 shares of Class B Common Stock into 82,760 shares of Class A Common Stock on a one-to-one basis at a stated price of $0.00 per share. After the conversion, the trust holds 493,955 shares of Class A Common Stock and 3,495,441 shares of Class B Common Stock indirectly. This filing reflects an internal share class conversion rather than an open-market purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
82,760 shares exercised/converted
Mixed
2 txns
Insider
Huffman Steve Ladd
Role
CEO & President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 82,760 | $0.00 | -- |
| Conversion | Class A Common Stock | 82,760 | $0.00 | -- |
Holdings After Transaction:
Class B Common Stock — 3,495,441 shares (Indirect, By The XYZ Revocable Trust);
Class A Common Stock — 493,955 shares (Indirect, By The XYZ Revocable Trust)
Footnotes (1)
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FAQ
What did Reddit (RDDT) CEO Steve Huffman report in this Form 4?
Steve Huffman reported that The XYZ Revocable Trust converted 82,760 shares of Reddit Class B Common Stock into 82,760 shares of Class A Common Stock. The transaction was a derivative conversion at a stated price of $0.00 per share, not an open-market trade.
What does the Form 4 say about convertibility of Reddit Class B Common Stock?
A footnote states that Reddit’s Class B Common Stock is convertible at any time, at the option of the holder, into Class A Common Stock on a one-to-one basis. The reported transaction uses this feature to convert 82,760 Class B shares into Class A shares.