SNAP Form 4: Kelly Coffey awarded 33,157 RSUs, vesting in one year

Rhea-AI Filing Summary

Kelly Coffey, a director of Snap Inc. (SNAP), was granted 33,157 restricted stock units (RSUs) with a transaction dated 08/07/2025, increasing her reported beneficial ownership to 90,813 shares. The RSUs show a reported price of $0.00, indicating settlement into shares rather than a cash purchase.

The RSUs represent a contingent right to receive one share each and are scheduled to vest 100% after one year of continuous service from August 2, 2025. The award includes pro‑rata acceleration on discontinued board service, full acceleration in the event of a change in control, and immediate vesting on death.

Positive

• 33,157 RSUs granted to a Snap director, increasing reported beneficial ownership to 90,813 shares
• 100% time‑based vesting after one year provides a clear retention schedule
• Acceleration provisions (pro‑rata on departure, full on change in control, immediate on death) are explicitly stated

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine director equity award—33,157 RSUs granted, vesting in one year, beneficial ownership rises to 90,813; neutral market impact.

The filing documents a standard equity grant to a board member rather than a cash purchase. The reported 33,157 RSUs convert to Class A common stock at settlement and are listed with a price of $0.00. After the grant the reporting person beneficially owns 90,813 shares. Vesting is time‑based (one year from August 2, 2025) with customary acceleration provisions on board departure, change in control, and death. From a securities perspective this is a routine disclosure with limited immediate market impact.

Corporate Governance Expert

TL;DR: Grant aligns director compensation with shareholder interest and includes typical acceleration protections; governance effects are standard.

The RSU structure provides the director an equity stake contingent on continued service, which is a common retention and alignment mechanism. The grant vests fully after one year and contains pro‑rata and change‑in‑control acceleration provisions explicitly described in the filing. These terms are consistent with typical board compensation policies and do not, on their face, indicate unusual governance risks or extraordinary change to ownership structure.

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

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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^*

Coffey Kelly

(Last) (First) (Middle)

C/O SNAP INC.

3000 31ST STREET

(Street)

SANTA MONICA CA 90405

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Snap Inc [ SNAP ]

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)
08/07/2025

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	08/07/2025		A		33,157(1)	A	$0.00	90,813	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

Explanation of Responses:

1. Represents shares issuable on settlement of restricted stock units ("RSUs") granted to the reporting person. Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. 100% of the RSUs shall vest after the reporting person completes one year of continuous service from August 2, 2025. The RSUs will be subject to pro-rata acceleration upon the reporting person's discontinued service on the Issuer's board of directors and automatic full acceleration in the event of a change in control, as defined in the Issuer's 2017 Equity Incentive Plan. If the reporting person dies while in continuous service, 100% of the RSUs will be deemed fully vested immediately.

	/s/ Atul Porwal, Attorney-in-fact	08/11/2025
	** 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.

FAQ

What transaction did Snap (SNAP) report for Kelly Coffey?

The filing reports a grant of 33,157 RSUs to director Kelly Coffey with a transaction date of 08/07/2025.

How many shares does Kelly Coffey beneficially own after the transaction?

Following the reported transaction Kelly Coffey beneficially owns 90,813 shares.

What are the vesting terms for the RSUs granted to Kelly Coffey?

The RSUs vest 100% after one year of continuous service from August 2, 2025, with pro‑rata acceleration on discontinued service, full acceleration on change in control, and immediate vesting on death.

Did Kelly Coffey pay cash for the RSUs?

The filing shows a reported price of $0.00, indicating the award is an equity settlement rather than a cash purchase.

What is Kelly Coffey's relationship to Snap?

The filing lists the reporting person, Kelly Coffey, as a Director of Snap Inc.