[Form 4] Snap Inc. Insider Trading Activity

Rhea-AI Filing Summary

Rebecca Morrow, Chief Accounting Officer of Snap Inc. (SNAP), sold 10,216 shares of Class A common stock on 08/18/2025 to cover tax withholding tied to the settlement of restricted stock units (RSUs). Each RSU converted to one share upon settlement and the reported weighted-average sale price was $7.1718 per share, with individual trade prices reported in a range of $7.13 to $7.315 per share.

The transaction reduced her direct beneficial ownership to 436,087 shares. The filer notes the sale consisted of multiple transactions and offers to disclose detailed per-trade quantities and prices on request.

Insights

Corporate Governance Expert

TL;DR: Routine tax-related disposition of vested RSUs by an executive; disclosure follows Section 16 requirements and is not unusual.

The filing shows a common practice where executives sell shares to satisfy tax withholding obligations when RSUs vest. Such transactions are typically administrative and do not indicate a change in company strategy or insider view. The reduction to 436,087 shares is a post-sale snapshot but without additional context on total outstanding shares or subsequent transactions it is not materially informative for valuation.

Securities Analyst

TL;DR: Small, weighted-average sale to cover taxes; transaction amount appears routine and unlikely to be market-moving.

The report discloses a sale of 10,216 shares at a weighted-average price of $7.1718, with trade prices between $7.13 and $7.315. The filer’s offer to provide per-trade details ensures transparency. Absent larger or recurring dispositions, this single tax-covering sale should be viewed as operational rather than a signal about company fundamentals.

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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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^*

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)
08/18/2025

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	08/18/2025		S		10,216(1)	D	$7.1718(2)	436,087	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 $7.13 to $7.315 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	08/20/2025
	** 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) sell and why?

She sold 10,216 shares of Class A common stock to cover tax withholding obligations associated with the settlement of restricted stock units (RSUs).

At what price were the SNAP shares sold?

The reported weighted-average sale price was $7.1718 per share, with individual trades ranging from $7.13 to $7.315 per share.

How many SNAP shares does Rebecca Morrow own after the sale?

Following the reported transaction, her beneficial ownership was 436,087 shares of Class A common stock.

Was this Form 4 filing for a single person or multiple filers?

The form was filed by one reporting person (Rebecca Morrow) and signed by an attorney-in-fact on her behalf.

What does the filer say about the multiple trade prices?

The filer states the shares were sold in multiple transactions within the $7.13–$7.315 range and offers to provide detailed per-trade quantities and prices upon request.