Snap Insider Sale: Chief Accounting Officer Disposes 2,501 Shares at ~$7.56

Rhea-AI Filing Summary

Rebecca Morrow, Chief Accounting Officer of Snap Inc. (SNAP), reported a sale of Class A common stock on 09/16/2025 to satisfy tax withholding on vested restricted stock units. The report discloses a disposition of 2,501 shares at a weighted average price of $7.5574 per share (sales executed at prices between $7.51 and $7.60). After the reported sale, the reporting person beneficially owned 479,302 shares of Class A common stock. The Form 4 was signed by an attorney-in-fact and filed on 09/18/2025.

Positive

• Sale explicitly attributed to tax withholding on vested RSUs, clarifying the purpose of the disposition
• Reporting person retains substantial ownership after the transaction: 479,302 Class A shares remain beneficially owned
• Footnote discloses weighted-average price and price range for the multiple sale transactions

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine tax-withholding sale of RSUs; no indication of material change to insider ownership.

The Form 4 documents a market sale of 2,501 shares by the Chief Accounting Officer to cover tax withholding associated with RSU settlement. The reported weighted average sale price was $7.5574 with transaction prices between $7.51 and $7.60. Post-transaction beneficial ownership remains at 479,302 Class A shares, indicating continued significant ownership. This appears to be a customary mechanics-driven sale rather than a discretionary divestiture.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16 timing and includes footnotes explaining multiple sale prices.

The filing includes the required explanatory footnotes that the sale covered tax withholding on vested RSUs and that the reported price is a weighted average of multiple transactions. The signature by an attorney-in-fact is disclosed. There are no additional transfers, pledges, or derivative positions reported, and the filing presents the material facts needed for investor transparency under Section 16.

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).

1. Name and Address of Reporting Person^*

Morrow Rebecca

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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	09/16/2025		S		2,501(1)	D	$7.5574(2)	479,302	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 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 $7.51 to $7.60 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/ Atul Porwal, Attorney-in-fact	09/18/2025
	** 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 did Rebecca Morrow (SNAP) report on Form 4?

She reported the sale of 2,501 Class A shares on 09/16/2025 to cover tax withholding for vested RSUs.

At what price were the shares sold in the Form 4 filing?

The weighted average sale price was $7.5574 per share, with transaction prices ranging from $7.51 to $7.60.

How many Snap (SNAP) shares does the reporting person own after the transaction?

479,302 Class A shares were reported as beneficially owned following the reported sale.

Why were the shares sold according to the filing?

The shares were sold to cover tax withholding obligations in connection with settlement and release of restricted stock units.

When was the transaction and when was the Form 4 filed?

Transaction date: 09/16/2025. Form 4 signature/file date: 09/18/2025 (signed by attorney-in-fact).