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Snap (NYSE: SNAP) legal chief sells 204K shares around $5

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

Rhea-AI Filing Summary

Snap Inc (SNAP) reported that its General Counsel, Zachary M. Briers, disclosed open-market sales of Snap Class A Common Stock. On August 17, 2026, he sold 136,504 shares at a weighted average price of $5.1973 per share, with some shares sold to cover tax withholding from restricted stock unit (RSU) settlement. On August 19, 2026, he sold an additional 67,540 shares at a weighted average price of $5.0806 per share. The company’s Rule 10b5-1 checkbox indicates these transactions occurred under a pre-arranged trading plan, and a footnote for the August 19 sale states the plan was adopted on November 17, 2025.

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Insider Briers Zachary M
Role General Counsel
Sold 204,044 shs ($1.05M)
Type Security Shares Price Value
Sale Class A Common Stock F3, F4 67,540 $5.0806 $343K
Sale Class A Common Stock F1, F2 136,504 $5.1973 $709K
Holdings After Transaction: Class A Common Stock — 2,356,791 shares (Direct)
Footnotes (4)
  1. F1. Represents the sale of shares to cover tax withholding obligations in connection with the settlement and release of restricted stock units ("RSUs") granted by the Issuer to the reporting person. Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock.
  2. F2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.065 to $5.28 per share, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  3. F3. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 17, 2025.
  4. F4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.035 to $5.16 per share, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Shares sold 2026-08-17 136,504 shares Class A Common Stock sold by Zachary M. Briers on August 17, 2026
Price 2026-08-17 $5.1973 per share Weighted average sale price for August 17, 2026 transaction
Price range 2026-08-17 $5.065–$5.28 per share Range of prices for multiple trades on August 17, 2026
Shares sold 2026-08-19 67,540 shares Class A Common Stock sold by Zachary M. Briers on August 19, 2026
Price 2026-08-19 $5.0806 per share Weighted average sale price for August 19, 2026 transaction
Price range 2026-08-19 $5.035–$5.16 per share Range of prices for multiple trades on August 19, 2026
Total shares sold 204,044 shares Aggregate net shares sold across both reported transactions
10b5-1 plan adoption date November 17, 2025 Date the Rule 10b5-1 trading plan for the August 19, 2026 sale was adopted
Rule 10b5-1 trading plan regulatory
"The sales reported were effected pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
restricted stock units ("RSUs") financial
"in connection with the settlement and release of restricted stock units ("RSUs")"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
weighted average price financial
"The reported price in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

FAQ

What insider transactions did SNAP report for Zachary M. Briers on this Form 4?
Snap Inc reported that General Counsel Zachary M. Briers sold a total of 204,044 shares of Class A Common Stock. The sales occurred on August 17, 2026 and August 19, 2026 at weighted average prices of $5.1973 and $5.0806 per share, respectively.

At what prices did Zachary M. Briers sell SNAP shares according to the Form 4?
The filing reports weighted average prices of $5.1973 on August 17, 2026 and $5.0806 on August 19, 2026. Footnotes note the actual trades occurred in multiple transactions within ranges of $5.065–$5.28 and $5.035–$5.16 per share, respectively.

Was the SNAP (SNAP) insider trading activity under a Rule 10b5-1 plan?
The Form 4 indicates the transactions were under a Rule 10b5-1 trading plan. A footnote tied to the August 19, 2026 sale states the sales reported there were effected under a plan adopted on November 17, 2025.

How many SNAP shares did Zachary M. Briers sell in total in this Form 4?
Across both reported transactions, General Counsel Zachary M. Briers sold 204,044 shares of Snap Class A Common Stock. The Form 4’s transaction summary also shows netBuySellShares of -204,044, confirming the net effect as a share disposition.

Does the SNAP Form 4 disclose Briers’ remaining shareholdings after these sales?
The reported transactions do not include a post-transaction share balance for Briers. The total_shares_following_transaction field is blank for both entries, so the filing only details the sales, not his remaining holdings.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Briers Zachary M
(Last)(First)(Middle)
C/O SNAP INC.
3000 31ST STREET
(Street)
SANTA MONICA CALIFORNIA 90405
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Snap Inc [ SNAP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
General Counsel
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/17/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock08/17/2026S136,504(1)D$5.1973(2)2,424,331D
Class A Common Stock08/19/2026S67,540(3)D$5.0806(4)2,356,791D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents the sale of shares to cover tax withholding obligations in connection with the settlement and release of restricted stock units ("RSUs") granted by the Issuer to the reporting person. Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock.
2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.065 to $5.28 per share, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 17, 2025.
4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.035 to $5.16 per share, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
/s/ Marzena Gellert, Attorney-in-fact08/19/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR