Snap CEO-linked trust sells 1M Class A shares
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Snap Inc. insider activity shows an irrevocable trust associated with Chief Executive Officer Evan Spiegel sold 1,000,000 shares of Class A Common Stock at a weighted average price of $5.0412 per share in an open-market sale on April 8, 2026, under a pre-arranged Rule 10b5-1 trading plan.
The trust, for which Spiegel serves as trustee, held 2,027,844 shares after the sale, while Spiegel also reported 25,487,274 Class A shares held directly. Footnotes state he has voting power but no financial interest in the trust, and that sale prices ranged from $5.00 to $5.075 per share.
Insider Trade Summary 10b5-1
Net Seller: 1,000,000 shares
Net Sell
1 txn
Insider
Spiegel Evan
Role
Chief Executive Officer
Sold
1,000,000 shs ($5.04M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,000,000 | $5.0412 | $5.04M |
| Holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 2,027,844 shares (Indirect, By Trust);
Class A Common Stock — 25,487,274 shares (Direct)
Footnotes (3)
- F1. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 10, 2025 solely in his role as the trustee of an irrevocable trust.
- F2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.00 to $5.075 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.
- F3. Shares held by an irrevocable trust over which the reporting person acts as trustee and has voting power, but has no financial interest. The beneficiaries of the irrevocable trust are not immediate family members of the reporting person.
Key Figures
Shares sold: 1,000,000 shares
Weighted average sale price: $5.0412 per share
Sale price range: $5.00–$5.075 per share
+4 more
7 metrics
Shares sold
1,000,000 shares
Class A Common Stock sold on April 8, 2026
Weighted average sale price
$5.0412 per share
Open-market sale by irrevocable trust
Sale price range
$5.00–$5.075 per share
Multiple transactions within this range
Trust holdings after sale
2,027,844 shares
Indirect Class A holdings via irrevocable trust
Direct holdings after transaction
25,487,274 shares
Class A Common Stock held directly by Evan Spiegel
Net share change
-1,000,000 shares
Net sell direction across reported transactions
10b5-1 plan adoption date
December 10, 2025
Date trading plan for these sales was adopted
Key Terms
Rule 10b5-1 trading plan, irrevocable trust, weighted average price, open-market sale, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person..."
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.
irrevocable trust financial
"Shares held by an irrevocable trust over which the reporting person acts as trustee..."
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
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.
open-market sale financial
"transaction_action: "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Class A Common Stock financial
"security_title: "Class A Common Stock""
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Evan Spiegel’s Form 4 report for Snap (SNAP)?
The Form 4 reported that an irrevocable trust associated with Evan Spiegel sold 1,000,000 Snap Class A shares at a weighted average price of $5.0412 on April 8, 2026, under a Rule 10b5-1 trading plan, while large direct holdings remained reported.
What type of transaction was reported for Snap (SNAP) on April 8, 2026?
The filing describes an open-market sale of Class A Common Stock. The transaction code indicates a sale, and the summary labels it an open-market transaction, with 1,000,000 shares sold by the trust at prices between $5.00 and $5.075 per share, averaged at $5.0412.
AI-generated analysis. How Rhea-AI works. Not financial advice.
