[Form 4] Snap Inc. Insider Trading Activity

Rhea-AI Filing Summary

Elizabeth Jenkins, a Snap Inc. director, sold 7,900 shares of Class A common stock on 08/28/2025 at $7.07 per share under a Rule 10b5-1 trading plan adopted May 29, 2025. After the sale she beneficially owned 65,663 shares. The transaction was reported on Form 4 and signed by an attorney-in-fact on 08/29/2025.

This filing discloses a routine, pre-planned insider sale rather than an ad hoc transaction because the sale was executed pursuant to a 10b5-1 plan, indicating the trade followed a pre-established instruction set rather than being timed in response to non-public company developments.

Positive

• Transaction executed under a Rule 10b5-1 plan, indicating pre-planned compliance with insider trading rules
• Timely and complete disclosure including transaction date, price, and post-sale beneficial ownership

Negative

• Insider sale of 7,900 Class A shares, which reduces the director's stake from pre-sale levels (may be perceived negatively by some investors)

Insights

Corporate Governance Expert

TL;DR: Routine, pre-cleared insider sale; indicates governance compliance but not a substantive change in control or ownership.

The report shows a director executed a sale under a Rule 10b5-1 plan adopted May 29, 2025, which is a common mechanism to mitigate insider trading concerns. The remaining beneficial ownership of 65,663 shares suggests no material ownership shift. The filing is timely and includes the required signature by an attorney-in-fact, supporting procedural compliance.

Securities Analyst

TL;DR: Small, disclosed sale; unlikely to be materially market-moving given the reported amounts.

The sale of 7,900 shares at $7.07 reduces the reporting person's holdings but does not suggest a change in strategic stake. Because the transaction was executed under a documented 10b5-1 plan, it limits inference about insider views on near-term company fundamentals. Reporting is concise and contains the transaction price and post-sale holdings, enabling straightforward investor interpretation.

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^*

Jenkins Elizabeth

(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)
08/28/2025

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	08/28/2025		S		7,900(1)	D	$7.07	65,663	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 May 29, 2025.

	/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 did Snap director Elizabeth Jenkins report on Form 4 (SNAP)?

She reported selling 7,900 Class A shares on 08/28/2025 at $7.07 per share and holding 65,663 shares after the sale.

Was the sale by Elizabeth Jenkins part of a 10b5-1 plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted May 29, 2025.

Who signed the Form 4 reporting this transaction?

The Form 4 was signed by Atul Porwal, Attorney-in-fact on 08/29/2025.

How many shares did Elizabeth Jenkins own after the reported transaction?

The filing reports she beneficially owned 65,663 shares following the sale.

What price was reported for the sold shares in the Form 4?

The transaction price reported for the sale was $7.07 per share.