SNAP insider sale: 24,000 shares sold under 10b5-1 plan

Rhea-AI Filing Summary

Michael J. O'Sullivan, Snap Inc. (SNAP) General Counsel and Director, reported insider sales executed on 09/30/2025. The filing discloses a weighted average sale price of $7.856 for shares sold under a Rule 10b5-1 trading plan adopted on 11/21/2024, with transaction prices ranging from $7.615 to $8.395. The report shows 24,000 Class A shares sold and indicates beneficial ownership following the reported transactions of 514,454 shares held indirectly by trust. The filer disclaims beneficial ownership of 160 shares held by immediate family members and states remaining shares are held by entities over which the filer retains investment power. The form is signed by an attorney-in-fact on 10/02/2025.

Insights

Corporate Governance Analyst

Insider sales were executed under a pre-arranged 10b5-1 plan; ownership remains materially concentrated.

The filing confirms a Rule 10b5-1 trading plan adopted on 11/21/2024, which legally structures the timing of insider sales and reduces the appearance of opportunistic trading. The disclosed weighted average price across the sales was $7.856, with per-share execution prices between $7.615 and $8.395.

The form shows the reporting person retains indirect beneficial ownership of 514,454 shares by trust and retains investment power over additional shares held by entities, while disclaiming ownership of 160 family-held shares. This indicates continued material economic exposure despite the reported disposals.

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^*

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)
09/30/2025

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	09/30/2025		S		24,000(1)	D	$7.856(2)	514,454	I	By Trust(3)
Class A Common Stock								1,925,864	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 $7.615 to $8.395 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	10/02/2025
	** 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 Michael J. O'Sullivan report in the SNAP Form 4?

He reported sales on 09/30/2025, disclosing a weighted average sale price of $7.856 and that the sales were made under a 10b5-1 trading plan adopted on 11/21/2024.

How many SNAP shares were sold by the reporting person?

24,000 Class A shares are shown as sold in the filing.

What price range did the SNAP insider sales occur at?

The filing discloses prices ranged from $7.615 to $8.395, with a reported weighted average of $7.856.

How many SNAP shares does the reporting person beneficially own after the sale?

The filing reports 514,454 shares beneficially owned following the reported transactions (held indirectly by trust).

When was the Form 4 signed and by whom?

The form was signed by an attorney-in-fact, Atul Porwal, on 10/02/2025.