SoFi Insider Filing: ESPP Purchase and 98,733-Share Sale by CTO

Rhea-AI Filing Summary

Jeremy Rishel, Chief Technology Officer of SoFi Technologies, Inc. (SOFI), reported a set of insider transactions. On June 9, 2025 he acquired 1,033 shares at $12.104 under the company's 2024 Employee Stock Purchase Plan. On September 18, 2025 he sold 98,733 shares at $27.50; the Form 4 states that the sale was completed pursuant to a Rule 10b5-1 trading plan adopted June 2, 2025. The filing lists beneficial ownership levels after the transactions (e.g., 759,553 and 760,586 shares in different rows) and notes corrections to amounts reported in prior Form 4 filings. The Form 4 was signed by an attorney-in-fact on September 19, 2025.

Positive

• Sale executed under a Rule 10b5-1 plan, which documents pre-set instructions and reduces concerns about opportunistic insider timing
• Participation in the 2024 Employee Stock Purchase Plan with an acquisition of 1,033 shares, indicating routine employee alignment with the company
• Corrections to prior filings were disclosed, improving the accuracy of reported insider holdings

Negative

• Large insider sale of 98,733 shares on 09/18/2025 may materially reduce the reporting person’s direct stake depending on total outstanding shares
• Prior Form 4 reporting errors (incorrect share counts in 2024 filings) suggest past record-keeping or filing inaccuracies

Insights

Securities Analyst

TL;DR: Insider purchased a small ESPP stake and later sold a larger block under a pre-established 10b5-1 plan, indicating scheduled liquidity rather than opportunistic timing.

The June 9 ESPP purchase of 1,033 shares at $12.104 is routine participation in an employee plan and represents a modest increase in direct holdings. The September 18 sale of 98,733 shares at $27.50 was executed under a Rule 10b5-1 plan adopted June 2, 2025, which provides an affirmative defense against insider trading claims by documenting pre-set instructions. For investors, the key metric is the post-transaction beneficial ownership reported in the filing; the numbers provided (e.g., 759,553 and 760,586) quantify remaining exposure but should be reconciled with outstanding share counts for materiality analysis.

Corporate Governance Expert

TL;DR: Use of a 10b5-1 plan and an ESPP purchase reflect standard insider protocols, while corrected prior filings point to record-keeping issues that were addressed.

The filing documents appropriate governance steps: the reporting person used an established 10b5-1 trading plan for the sale and participated in the company ESPP. The explanation section discloses two prior reporting errors (incorrect share counts reported in 2024 Form 4s) and corrects them, which is important for transparency and regulatory compliance. The Form 4 was executed by an attorney-in-fact, consistent with common practice for insiders who delegate filing authority.

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^*

Rishel Jeremy

(Last) (First) (Middle)

C/O SOFI TECHNOLOGIES, INC.

234 1ST STREET

(Street)

SAN FRANCISCO CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SoFi Technologies, Inc. [ SOFI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/09/2025

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
Common Stock	09/18/2025		S		98,733(1)	D	$27.5	759,553	D
Common Stock	06/09/2025		A(2)		1,033	A	$12.104	760,586	D
Common Stock								760,786(3)	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 sale reported on this Form 4 was completed pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person on June 2, 2025.

2. Shares were acquired under the SoFi Technologies, Inc. 2024 Employee Stock Purchase Plan on June 9, 2025, in an exempt transaction pursuant to Rule 16(b)-3(d), paid for by contributions made during the six month period ended June 8, 2025.

3. The Reporting Person's Form 4 filed on June 18, 2024 inadvertently reported 271,571, instead of the correct 271,751, shares acquired and the Reporting Person's Form 4 filed on September 20, 2024 inadvertently reported 68,081, instead of the correct 68,061, shares disposed.

Remarks:

	/s/ Deanna M. Smith, Attorney-in-Fact	09/19/2025
	** 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 transactions did Jeremy Rishel report on Form 4 for SOFI?

The Form 4 reports a June 9, 2025 acquisition of 1,033 shares at $12.104 under the 2024 ESPP and a September 18, 2025 sale of 98,733 shares at $27.50 executed under a 10b5-1 plan.

Was the sale by the SOFI CTO part of a trading plan?

Yes. The filing states the sale completed on 09/18/2025 was pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 2, 2025.

Did the Form 4 include corrections to prior filings for SOFI insider activity?

Yes. The filing explains prior Form 4s from June 18, 2024 and September 20, 2024 misstated share counts and provides the corrected amounts.

Who signed the Form 4 for Jeremy Rishel?

The Form 4 was signed by an attorney-in-fact, Deanna M. Smith, on September 19, 2025.

How many shares did the reporting person beneficially own after the reported transactions?

The filing shows post-transaction beneficial ownership figures including 759,553 and 760,586 shares in different lines; the filing should be consulted for exact context of each reported balance.