[Form 4] Snap Inc Insider Trading Activity

Rhea-AI Filing Summary

Rebecca Morrow, identified as an officer (Chief Accounting Officer), reported an acquisition of 45,716 shares of Snap Inc. Class A Common Stock on 09/10/2025 via restricted stock units (RSUs) with a $0.00 purchase price. After the grant, the reporting person beneficially owns 481,803 shares. The RSUs vest from an August 15, 2025 service start: 12,559 RSUs vest in equal quarterly installments over 12 months and 33,157 RSUs vest in equal quarterly installments over 36 months. If the reporting person dies while in service, the RSUs fully vest immediately. The Form 4 was signed by an attorney-in-fact on 09/12/2025.

Positive

• Material grant of 45,716 RSUs aligns executive compensation with shareholder value through equity incentives.
• Staged vesting schedule (12-month and 36-month tranches) supports retention and long-term alignment.
• Clear death-vesting provision (100% vesting if reporting person dies while in service) is disclosed.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine executive RSU grant increases insider stake modestly and aligns compensation with shareholder value.

The transaction is a typical equity-based compensation grant rather than an open-market purchase or sale. 45,716 RSUs at $0.00 reflect a grant that will convert to Class A shares on vesting, increasing potential share count outstanding only upon settlement. The post-grant beneficial ownership of 481,803 shares provides context on the executive's stake but does not by itself indicate material dilution or a change in control. Vesting terms are staggered with near-term and multi-year components, which is standard for retention incentives and aligns the reporting person’s interests with long-term performance.

Corporate Governance Expert

TL;DR: Grant terms show standard retention-focused vesting and a death-vest provision; disclosure is complete and routine.

The Form 4 discloses clear vesting schedules: 12,559 RSUs vest quarterly over 12 months and 33,157 over 36 months from August 15, 2025, with full vesting on death while in service. The $0.00 price indicates these are compensatory RSUs, not purchases. Filing by one reporting person and execution via attorney-in-fact on 09/12/2025 are properly documented. From a governance perspective, these terms are conventional and intended to retain the officer without immediate shareholder-impacting actions disclosed here.

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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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).

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)
09/10/2025

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	09/10/2025		A		45,716(1)	A	$0.00	481,803	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 shares issuable on settlement of restricted stock units ("RSUs") granted to the reporting person. Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. 12,559 of these RSUs shall vest in equal quarterly installments during the 12-month period of the reporting person's continuous service from August 15, 2025, and the remaining 33,157 of these RSUs shall vest in equal quarterly installments during the 36-month period of the reporting person's continuous service from August 15, 2025. If the reporting person dies while in continuous service, 100% of the RSUs will be deemed fully vested immediately.

	/s/ Atul Porwal, Attorney-in-fact	09/12/2025
	** 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 report on Form 4 for SNAP?

The Form 4 reports an acquisition of 45,716 RSUs converting to Class A Common Stock, resulting in 481,803 shares beneficially owned.

When were the RSUs granted and when do they vest?

The transaction date is 09/10/2025 and vesting begins from August 15, 2025: 12,559 RSUs vest quarterly over 12 months; 33,157 RSUs vest quarterly over 36 months.

What price was paid for the RSUs reported on SNAP Form 4?

The RSUs are reported with a price of $0.00, indicating compensatory restricted stock units rather than purchased shares.

How many SNAP shares does the reporting person own after the transaction?

Following the reported transaction, the reporting person beneficially owns 481,803 shares of Snap Inc. Class A Common Stock.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Atul Porwal, Attorney-in-fact on 09/12/2025 as indicated on the filing.