Insider Sale: Michael O'Sullivan Disposes 24k SNAP Shares Under 10b5-1

Rhea-AI Filing Summary

Snap Inc. reporting person Michael J. O'Sullivan executed a planned sale of Class A common stock under a Rule 10b5-1 trading plan. The filing shows 24,000 shares were sold on 08/29/2025 at a weighted-average price of $7.1607 per share, with per-share trades in the range $7.095 to $7.325. After the reported transactions, the reporting person is shown as beneficially owning 525,254 shares indirectly (held by trusts/entities, including 160 shares held by immediate family members) and 1,953,354 shares directly. The sale was effected pursuant to a 10b5-1 plan adopted November 21, 2024.

Insights

Financial Analyst

TL;DR: Insider sale of 24,000 SNAP shares under a pre-established 10b5-1 plan; holding positions remain material.

The transaction is a routine Rule 10b5-1 planned sale executed on 08/29/2025 at a weighted-average price of $7.1607. The filing explicitly states the sale price range and the 10b5-1 plan adoption date (11/21/2024), which supports the view this was pre-arranged rather than opportunistic. The reporting person retains substantial positions both indirectly (525,254 shares) and directly (1,953,354 shares), indicating ongoing significant exposure to the issuer's equity.

Corporate Governance Expert

TL;DR: The disclosure follows expected governance protocols; transaction flagged as Rule 10b5-1 and signed by attorney-in-fact.

The form includes required explanatory footnotes, discloses the 10b5-1 plan adoption date, and specifies the sale price range. Signature by an attorney-in-fact (/s/ Atul Porwal) is provided. The filing also discloses indirect holdings via trusts and family-member holdings where beneficial ownership is disclaimed, consistent with standard reporting practices.

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).

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^*

O'Sullivan Michael J.

(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)
	General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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	08/29/2025		S		24,000(1)	D	$7.1607(2)	525,254	I	By Trust(3)
Class A Common Stock								1,953,354	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. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 21, 2024.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.095 to $7.325 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. Includes 160 shares held by certain immediate family members of the reporting person for which the reporting person disclaims beneficial ownership except as to the reporting person's indirect pecuniary interest therein, if any. The remaining shares are held by an entity or entities in which the reporting person retains investment power over such shares.

	/s/ Atul Porwal, Attorney-in-fact	08/29/2025
	** 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 insider transaction did Snap Inc (SNAP) report for Michael J. O'Sullivan?

The Form 4 reports a sale of 24,000 Class A shares executed on 08/29/2025 under a Rule 10b5-1 plan.

At what price were the SNAP shares sold by Michael J. O'Sullivan?

The weighted-average sale price was $7.1607 per share; individual trades ranged from $7.095 to $7.325 per share.

How many SNAP shares does Michael J. O'Sullivan beneficially own after the sale?

The filing shows 525,254 shares indirectly (held by trusts/entities) and 1,953,354 shares directly beneficially owned following the reported transaction(s).

Was the sale executed under a pre-arranged insider plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on November 21, 2024.

Who signed the Form 4 for Michael J. O'Sullivan?

The Form 4 is signed by /s/ Atul Porwal, Attorney-in-fact dated 08/29/2025.