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Snap (SNAP) counsel disposes 201K shares to cover RSU taxes

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Snap Inc General Counsel Zachary M. Briers reported routine share sales linked to equity compensation. On May 18, 2026, he sold 129,493 shares of Class A common stock at a weighted average price of $5.6003 per share. On May 19, 2026, he sold an additional 71,745 shares at a weighted average price of $5.6704 per share. Footnotes state these transactions were to cover tax withholding obligations from the settlement of restricted stock units and were carried out under a Rule 10b5-1 trading plan. After these dispositions, he directly holds 2,572,793 shares of Snap Class A common stock.

Positive

  • None.

Negative

  • None.
Insider Briers Zachary M
Role General Counsel
Sold 201,238 shs ($1.13M)
Type Security Shares Price Value
Sale Class A Common Stock 71,745 $5.6704 $407K
Sale Class A Common Stock 129,493 $5.6003 $725K
Holdings After Transaction: Class A Common Stock — 2,572,793 shares (Direct, null)
Footnotes (1)
  1. Represents the sale of shares to cover tax withholding obligations in connection with the settlement and release of restricted stock units ("RSUs") granted by the Issuer to the reporting person. Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.455 to $5.71 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. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 17, 2025. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.535 to $5.765 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.
Shares sold May 18, 2026 129,493 shares Class A common stock sold at $5.6003 weighted average price
Shares sold May 19, 2026 71,745 shares Class A common stock sold at $5.6704 weighted average price
Total shares sold 201,238 shares Net shares sold across both reported transactions
Holdings after transactions 2,572,793 shares Directly owned Snap Class A common stock after May 19, 2026
Price range May 18, 2026 $5.455–$5.71 per share Weighted average $5.6003 across multiple trades
Price range May 19, 2026 $5.535–$5.765 per share Weighted average $5.6704 across multiple trades
restricted stock units ("RSUs") financial
"settlement and release of restricted stock units ("RSUs") granted by the Issuer"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
tax withholding obligations financial
"sale of shares to cover tax withholding obligations in connection with the settlement"
weighted average price financial
"The reported price in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Rule 10b5-1 trading plan financial
"The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Briers Zachary M
(Last)(First)(Middle)
C/O SNAP INC.
3000 31ST STREET
(Street)
SANTA MONICA CALIFORNIA 90405
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Snap Inc [ SNAP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
General Counsel
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock05/18/2026S129,493(1)D$5.6003(2)2,644,538D
Class A Common Stock05/19/2026S71,745(3)D$5.6704(4)2,572,793D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents the sale of shares to cover tax withholding obligations in connection with the settlement and release of restricted stock units ("RSUs") granted by the Issuer to the reporting person. Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock.
2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.455 to $5.71 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. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 17, 2025.
4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.535 to $5.765 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.
/s/ Marzena Gellert, Attorney-in-fact05/20/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

How many Snap (SNAP) shares did General Counsel Zachary Briers sell in this Form 4?

Zachary Briers reported selling a total of 201,238 shares of Snap Class A common stock. These sales occurred over two days and were linked to covering tax obligations from restricted stock unit settlements under an established Rule 10b5-1 trading plan.

On what dates did Snap (SNAP) General Counsel Zachary Briers dispose of shares?

The reported dispositions took place on May 18, 2026 and May 19, 2026. On each date, Briers sold Snap Class A common stock in open-market transactions, according to the Form 4 filing and accompanying footnotes.

What were the average sale prices for Zachary Briers’ Snap (SNAP) share transactions?

The average sale price was $5.6003 per share on May 18, 2026, and $5.6704 per share on May 19, 2026. Footnotes explain each figure is a weighted average reflecting multiple trades within stated price ranges.

Why did Snap (SNAP) General Counsel Zachary Briers sell these shares?

Footnotes explain the sales represent shares sold to cover tax withholding obligations from restricted stock unit settlements. Such tax-related dispositions are common for equity compensation and differ from discretionary open-market sales motivated by portfolio or valuation views.

How many Snap (SNAP) shares does Zachary Briers hold after these transactions?

Following the reported transactions, Briers directly holds 2,572,793 shares of Snap Class A common stock. This post-transaction balance is disclosed in the Form 4 as the total number of shares owned directly after the May 19, 2026 sale.

Were Zachary Briers’ Snap (SNAP) share sales made under a Rule 10b5-1 plan?

Yes. A footnote states the sales were effected under a Rule 10b5-1 trading plan adopted by Briers on November 17, 2025. Such plans pre-schedule trades, which can make the timing less indicative of short-term views on the stock.