Snap Inc (SNAP) grants 46,905 RSUs to director Scott D. Miller with deferred settlement
Rhea-AI Filing Summary
MILLER SCOTT D reported acquisition or exercise transactions in this Form 4 filing.
Snap IncScott D. Miller46,905 restricted stock units (RSUs)219,757 shares100% of the RSUs vest after one year of continuous service from August 1, 2026
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 46,905 shares
Net Buy
1 txn
Insider
MILLER SCOTT D
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock F1 | 46,905 | $0.00 | $0.00 |
Holdings After Transaction:
Class A Common Stock — 219,757 shares (Direct)
Footnotes (1)
- F1. 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. 100% of the RSUs shall vest after the reporting person completes one year of continuous service from August 1, 2026. The RSUs will be subject to pro-rata acceleration upon the reporting person's discontinued service on the Issuer's board of directors and automatic full acceleration in the event of a change in control, as defined in the Issuer's 2017 Equity Incentive Plan. If the reporting person dies while in continuous service, 100% of the RSUs will be deemed fully vested immediately. The settlement of such RSUs will be deferred until the earlier of a) the 90th day following the reporting person's separation from service from the Issuer (as defined under Treasury Regulations Section 1.409A-1(h)) or b) a change in control.
Key Figures
RSUs Granted: 46,905 shares
Price per RSU: $0.00
Holdings After Grant: 219,757 shares
+1 more
4 metrics
RSUs Granted
46,905 shares
Restricted stock units of Class A Common Stock granted to Scott D. Miller
Price per RSU
$0.00
Reported transaction price per RSU for the equity award
Holdings After Grant
219,757 shares
Total Class A Common Stock directly held by Scott D. Miller after the transaction
Vesting Schedule
100% after one year from August 1, 2026
Full vesting contingent on one year of continuous board service
Key Terms
restricted stock units, change in control, pro-rata acceleration, Treasury Regulations Section 1.409A-1(h), +1 more
5 terms
restricted stock units financial
"Represents shares issuable on settlement of restricted stock units ("RSUs") granted"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
change in control financial
"automatic full acceleration in the event of a change in control"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
pro-rata acceleration financial
"subject to pro-rata acceleration upon the reporting person's discontinued service"
Treasury Regulations Section 1.409A-1(h) regulatory
"separation from service from the Issuer (as defined under Treasury Regulations Section 1.409A-1(h))"
2017 Equity Incentive Plan financial
"as defined in the Issuer's 2017 Equity Incentive Plan"
FAQ
What did Snap (SNAP) director Scott D. Miller report on this Form 4?
Scott D. Miller reported an acquisition of 46,905 RSUs, each representing one share of Snap Class A Common Stock. Following this grant, his direct holdings total 219,757 shares.
How many Snap (SNAP) RSUs were granted to Scott D. Miller and at what cost?
Scott D. Miller was granted 46,905 RSUs of Snap Class A Common Stock at a reported price of $0.00 per unit, reflecting an equity compensation award rather than an open-market purchase.
When do Scott D. Miller’s new Snap (SNAP) RSUs vest?
The 46,905 RSUs granted to Scott D. Miller will 100% vest after one year of continuous service from August 1, 2026, assuming he remains on Snap’s board during that period.
What happens to Scott D. Miller’s Snap (SNAP) RSUs if his board service ends early?
If his service on Snap’s board ends, the RSUs are subject to pro-rata acceleration. In a change in control or if he dies while in service, the RSUs become fully vested.
AI-generated analysis. How Rhea-AI works. Not financial advice.