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Form 4: Reddit Insider Huffman Converts & Sells Shares Under 10b5-1

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Form 4 filing for Reddit, Inc. (RDDT) – CEO & President Steve Huffman

On 06/30/2025, Mr. Huffman, acting through The XYZ Revocable Trust, reported one conversion and seven open-market sales of Reddit equity:

  • Conversion (Code C): 7,498 shares of Class B Common Stock automatically converted into an equal number of Class A shares at a $0 conversion price.
  • Sales (Code S): A total of 14,000 Class A shares were sold in tranches ranging from 300-4,741 shares each. Weighted-average sale prices spanned $147.81-$154.26, with individual trade ranges disclosed in the footnotes. All sales were executed under a Rule 10b5-1 trading plan adopted 05/21/2024.
  • Remaining ownership: 539,631 Class A shares held indirectly plus 3,628,915 Class B shares (convertible 1-for-1) after the transactions, indicating Mr. Huffman still exceeds the 10 % ownership threshold.
  • Percentage sold: Class A shares disposed represent roughly 2.5 % of the trust’s post-transaction Class A position.
  • The filing was signed by attorney-in-fact Julie Rogers on 07/02/2025.

Because the sales were pre-scheduled and Mr. Huffman retains a sizable economic and voting interest, the market impact is likely modest; however, investors often monitor insider activity for sentiment cues.

Positive

  • Substantial insider alignment maintained: Huffman still holds 539,631 Class A and 3.63 million Class B shares after the sale.
  • Transactions executed under a Rule 10b5-1 plan, reducing the likelihood of trades based on non-public information.

Negative

  • CEO sold 14,000 Class A shares (≈2.5 % of his Class A position) at up to $154.26, which some investors may view as a bearish signal.

Insights

TL;DR — CEO sells 14k shares (~$2.1 m) via 10b5-1 plan; ownership still strong, market impact neutral.

The transaction set converts 7,498 Class B shares and immediately disposes of 14,000 Class A shares at prices clustered around $150. Even after the sale, Huffman’s trust controls 539,631 Class A and 3.63 million Class B shares, preserving voting control and economic exposure. Because sales were executed under a pre-arranged Rule 10b5-1 program, the action appears routine liquidity rather than an adverse signal. The dollar value sold is immaterial relative to the CEO’s remaining stake and Reddit’s market capitalization, so I view the filing as neutral for valuation purposes.

TL;DR — Insider sale by controlling executive merits monitoring, but 10b5-1 framework tempers governance risk.

Insider dispositions by a CEO can raise governance concerns, yet this Form 4 shows adherence to SEC best practices: advance Rule 10b5-1 adoption, detailed footnote ranges, and prompt filing. The 2.5 % reduction is modest, and the automatic conversion aligns with Reddit’s dual-class structure. While not a red flag, persistent or larger-scale sales could signal shifting insider sentiment. Overall, the filing is slightly negative from a governance optics standpoint but not materially so.

Insider Huffman Steve Ladd
Role CEO & President
Sold 14,000 shs ($2.12M)
Approx. gross sale proceeds $2.12M
Approx. exercise cost $0.00
Type Security Shares Price Value
Conversion Class B Common Stock 7,498 $0.00 $0.00
Conversion Class A Common Stock 7,498 $0.00 $0.00
Sale Class A Common Stock 602 $147.81 $89K
Sale Class A Common Stock 300 $148.94 $45K
Sale Class A Common Stock 4,741 $150.31 $713K
Sale Class A Common Stock 3,100 $151.48 $470K
Sale Class A Common Stock 2,957 $152.20 $450K
Sale Class A Common Stock 1,800 $153.27 $276K
Sale Class A Common Stock 500 $154.26 $77K
Holdings After Transaction: Class B Common Stock — 3,628,915 shares (Indirect, By The XYZ Revocable Trust); Class A Common Stock — 539,631 shares (Indirect, By The XYZ Revocable Trust)
Footnotes (9)
  1. F1. In connection with a sale by the Reporting Person, the reported shares of Class B Common Stock automatically converted into an equal number of shares of Class A Common Stock of the Issuer and were sold pursuant to a 10b5-1 plan adopted by the Reporting Person on May 21, 2024.
  2. F2. The sales were executed in multiple trades at prices ranging from $147.35 to $148.24. 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 (8) to this Form 4.
  3. F3. The sales were executed in multiple trades at prices ranging from $148.54 to $149.21.
  4. F4. The sales were executed in multiple trades at prices ranging from $149.81 to $150.79.
  5. F5. The sales were executed in multiple trades at prices ranging from $150.84 to $151.81.
  6. F6. The sales were executed in multiple trades at prices ranging from $151.84 to $152.81.
  7. F7. The sales were executed in multiple trades at prices ranging from $152.84 to $153.82.
  8. F8. The sales were executed in multiple trades at prices ranging from $153.99 to $154.86.
  9. F9. 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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How many Reddit (RDDT) shares did CEO Steve Huffman sell on 06/30/2025?
He sold 14,000 Class A shares across seven transactions.

At what prices were the Reddit insider sales executed?
Weighted-average prices ranged from $147.81 to $154.26, with detailed ranges provided in the filing footnotes.

Were the CEO's Reddit share sales under a Rule 10b5-1 plan?
Yes. The Form 4 states the shares were sold pursuant to a 10b5-1 plan adopted on 05/21/2024.

How many Reddit shares does Steve Huffman still own after the transactions?
Post-sale, he beneficially owns 539,631 Class A shares and 3,628,915 Class B shares via The XYZ Revocable Trust.

What conversion was reported in the Reddit Form 4?
The trust automatically converted 7,498 Class B shares into an equal number of Class A shares at a $0 conversion price.

When was the Form 4 for Reddit filed and signed?
The filing was signed on 07/02/2025 and covers transactions dated 06/30/2025.
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)
06/30/2025
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 06/30/2025 C 7,498 A $0 553,631 I By The XYZ Revocable Trust
Class A Common Stock 06/30/2025 S 602(1) D $147.81(2) 553,029 I By The XYZ Revocable Trust
Class A Common Stock 06/30/2025 S 300(1) D $148.94(3) 552,729 I By The XYZ Revocable Trust
Class A Common Stock 06/30/2025 S 4,741(1) D $150.31(4) 547,988 I By The XYZ Revocable Trust
Class A Common Stock 06/30/2025 S 3,100(1) D $151.48(5) 544,888 I By The XYZ Revocable Trust
Class A Common Stock 06/30/2025 S 2,957(1) D $152.2(6) 541,931 I By The XYZ Revocable Trust
Class A Common Stock 06/30/2025 S 1,800(1) D $153.27(7) 540,131 I By The XYZ Revocable Trust
Class A Common Stock 06/30/2025 S 500(1) D $154.26(8) 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 (9) 06/30/2025 C 7,498 (9) (9) Class A Common Stock 7,498 $0 3,628,915 I By The XYZ Revocable Trust
Explanation of Responses:
1. In connection with a sale by the Reporting Person, the reported shares of Class B Common Stock automatically converted into an equal number of shares of Class A Common Stock of the Issuer and were sold pursuant to a 10b5-1 plan adopted by the Reporting Person on May 21, 2024.
2. The sales were executed in multiple trades at prices ranging from $147.35 to $148.24. 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 (8) to this Form 4.
3. The sales were executed in multiple trades at prices ranging from $148.54 to $149.21.
4. The sales were executed in multiple trades at prices ranging from $149.81 to $150.79.
5. The sales were executed in multiple trades at prices ranging from $150.84 to $151.81.
6. The sales were executed in multiple trades at prices ranging from $151.84 to $152.81.
7. The sales were executed in multiple trades at prices ranging from $152.84 to $153.82.
8. The sales were executed in multiple trades at prices ranging from $153.99 to $154.86.
9. 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 07/02/2025
** 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.

Source: View Original Filing on SEC EDGAR