[Form 4] Redfin Corporation Insider Trading Activity

Rhea-AI Filing Summary

Redfin Corporation (RDFN) – Form 4 insider filing: Director Austin Ligon reported the conversion and settlement of 68,565 restricted stock units (RSUs) into common shares on 26-Jun-2025. The transactions were coded “M,” indicating the receipt of shares following the conversion of derivative securities rather than an open-market purchase or sale.

• 17,080 shares were issued upon the regular vesting of RSUs tied to the company’s equity incentive plan in connection with the pending acquisition by Rocket Companies, Inc.
• 51,485 shares previously deferred under the director deferral program were settled early because the change-of-control condition (the announced merger) was triggered.
• After these settlements, Ligon’s direct beneficial ownership rose to 724,000 common shares.

No derivative securities remain outstanding for this insider after the conversion. The filing does not reflect any cash transactions or market purchases; therefore, it primarily represents equity already earned rather than a new investment decision. Nevertheless, the additional share ownership increases management’s alignment with shareholders ahead of the anticipated merger close.

Positive

• Director ownership rises by 68,565 shares, increasing alignment with common shareholders prior to the Rocket Companies acquisition.

Negative

• None.

Insights

Financial Analyst

TL;DR: RSU settlement adds 68.6k insider shares; neutral signal as it is change-of-control driven rather than discretionary buying.

The Form 4 details a straightforward conversion of previously granted RSUs, accelerated due to Redfin’s pending merger with Rocket Companies. There is no cash outlay and no open-market activity, so the transaction does not indicate a fresh valuation view by the director. However, the rise to 724k shares does marginally strengthen insider ownership going into the merger vote, which investors may view as a modestly positive governance sign. From a trading perspective the event is low-impact; the float increase of 68.6k shares is immaterial to RDFN’s 100-million-plus shares outstanding. Overall rating: 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
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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^*

Ligon Austin

(Last) (First) (Middle)

C/O REDFIN CORPORATION

1099 STEWART STREET, SUITE 600

(Street)

SEATTLE WA 98101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Redfin Corp [ RDFN ]

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)
06/26/2025

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	06/26/2025		M		17,080	A	(1)	672,515	D
Common Stock	06/26/2025		M		51,485(2)	A	(1)	724,000	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
Restricted Stock Unit	(1)	06/26/2025		M			17,080	(3)	(4)	Common Stock	17,080	$0	0	D
Phantom Stock	(1)	06/26/2025		M			51,485	(2)	(4)	Common Stock	51,485	$0	0	D

Explanation of Responses:

1. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis upon settlement.

2. Represents 51,485 shares of Redfin Corporation's ("the Company") common stock in respect of RSUs that previously vested, for which settlement was deferred pursuant to the Company's director deferral program until the earlier of (i) the reporting person's termination of service with the Company and (ii) a change in control of the Company. In connection with the pending merger contemplated by the Merger Agreement (as defined below), these previously deferred RSUs were settled on June 26, 2025.

3. These RSUs vested on June 26, 2025 pursuant to the terms of the Company's Equity Incentive Plan in connection with the pending acquisition of the Company by Rocket Companies, Inc. ("Parent") pursuant to the Agreement and Plan of Merger, dated March 9, 2025, by and among the Company, Parent and Neptune Merger Sub, Inc., a wholly owned subsidiary of Parent.

4. RSUs do not expire; they either vest or are canceled prior to the vesting date.

Remarks:

	/s/ Anthony Kappus, attorney-in-fact	06/30/2025
	** 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 Redfin (RDFN) shares did Director Austin Ligon acquire on 26-Jun-2025?

68,565 shares were issued through RSU conversions.

What is Austin Ligon’s total ownership in Redfin after the Form 4 transactions?

He now directly owns 724,000 common shares.

Were the shares purchased on the open market?

No. They were automatic RSU settlements triggered by vesting and merger-related deferral conditions.

Why were previously deferred RSUs settled early?

The company’s director deferral program mandates settlement upon the pending change-of-control created by the Rocket Companies merger.

Does this Form 4 affect the Redfin–Rocket Companies merger timeline?

The filing is procedural and does not alter the announced merger timetable.