SNAP insider files Rule 144 to sell 33,871 shares on NYSE valuing $256K

Rhea-AI Filing Summary

Form 144 filing for SNAP Inc. (SNAP) shows a proposed sale of 33,871 common shares through Charles Schwab valued at $255,973.00, with an approximate sale date of 09/16/2025 on the NYSE. The shares were reported as acquired the same day as Restricted Stock Units from SNAP Inc. and the payment/consideration is listed as Equity Compensation. The filer represents no undisclosed material adverse information and the filing notes two prior reported sales in the past three months: 33,886 shares on 06/16/2025 for $272,453.00 and 60,966 shares on 08/18/2025 for $437,431.00.

Positive

• Disclosure compliance: Form 144 properly reports the proposed sale under Rule 144 with broker and exchange specified
• Acquisition clarity: Shares are identified as Restricted Stock Units from SNAP Inc., with payment described as Equity Compensation
• Prior sales reported: The filing lists sales on 06/16/2025 and 08/18/2025, providing transparency on recent dispositions

Negative

• Insider selling activity: Proposed sale of 33,871 shares plus two recent sales (33,886 and 60,966) may indicate meaningful insider liquidity
• Concentration of near-term sales: Multiple dispositions within three months could be perceived negatively by some investors despite being disclosed

Insights

Financial Analyst

TL;DR: Insider plans a routine sale of RSU shares totaling 33,871 for about $256k; prior near-term sales were disclosed.

The filing documents a scheduled Rule 144 sale of newly vested Restricted Stock Units, indicating the seller is monetizing equity compensation. The transaction size ($255,973) is small relative to SNAP's market capitalization and therefore unlikely to be material to company financials. The inclusion of two prior sales in June and August shows ongoing disposition activity; investors may view this as personal liquidity rather than a signal about company fundamentals. The filing is procedurally compliant and names the executing broker.

Corporate Governance Expert

TL;DR: Filing appears compliant with Rule 144 and contains standard signer representations; disclosure is complete for the reported transactions.

The form clearly states acquisition source (RSUs), sale mechanics (broker and exchange), and prior sales within three months, meeting typical disclosure expectations. The signer attests to absence of undisclosed material information, and the filing warns of criminal penalties for misstatements. From a governance perspective, documentation is appropriate; no departures, trading-plan statements, or unusual conditions are documented.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Charles Schwab & Co., Inc. 3000 Schwab Way Westlake TX 76262	33871	255973.00	1435682333	09/16/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/16/2025	Restricted Stock Unit - See Remarks	SNAP INC.			33871	09/16/2025	Equity Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
DEREK ANDERSEN 3000 31st Street Santa Monica CA 90405	SNAP INC.	06/16/2025	33886	272453.00
DEREK ANDERSEN 3000 31st Street Santa Monica CA 90405	SNAP INC.	08/18/2025	60966	437431.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for SNAP (SNAP) report?

The Form 144 reports a proposed sale of 33,871 common shares valued at $255,973.00, to be sold on 09/16/2025 via Charles Schwab on the NYSE.

What type of shares are being sold according to the filing?

The shares were acquired as Restricted Stock Units (RSUs) from SNAP Inc. and the consideration is listed as Equity Compensation.

Were there any other sales by the same person recently?

Yes. The filing discloses sales of 33,886 shares on 06/16/2025 for $272,453.00 and 60,966 shares on 08/18/2025 for $437,431.00.

Does the filing indicate any undisclosed material information?

The filer represents by signature that they do not know any material adverse information about the issuer that has not been publicly disclosed.

Which broker and exchange are listed for the proposed sale?

Broker: Charles Schwab & Co., Inc.; Exchange: NYSE.