Were Gustav Soderstrom’s Spotify (SPOT) share sales under a Rule 10b5-1 trading plan?

Yes. A footnote states the sale transactions were made pursuant to a Rule 10b-51 trading plan adopted by Soderstrom on December 11, 2025. Such plans are pre-arranged trading programs, indicating the timing of these sales was scheduled in advance rather than decided spontaneously.

Spotify (NYSE: SPOT) co-CEO exercises options and sells shares

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Spotify Technology S.A. Co-CEO Gustav Soderstrom exercised stock options for 20,833 Ordinary Shares at $151.2500 per share and then sold 20,833 Ordinary Shares in open-market transactions at a weighted average price of $496.5214 per share. The sale was made pursuant to a Rule 10b-51 trading plan adopted on December 11, 2025, indicating it was pre-scheduled.

The company also withheld 116.64 Ordinary Shares at $497.6800 per share to cover tax obligations from restricted stock unit vesting. After these transactions, Soderstrom directly holds 20,375.54 Ordinary Shares, and the filing shows no remaining stock options following this exercise.

Insider Trade Summary 10b5-1

Net Seller: 20,833 shares ($10,344,030)

Net Sell 4 txns

Insider Soderstrom Gustav

Role Co-Chief Executive Officer

Sold 20,833 shs ($10.34M)

Type	Security	Shares	Price	Value
Exercise	Stock Option	20,833	$0.00	--
Exercise	Ordinary Share	20,833	$151.25	$3.15M
Sale	Ordinary Share	20,833	$496.5214	$10.34M
Tax Withholding	Ordinary Share	116.64	$497.68	$58K

Holdings After Transaction: Stock Option — 167,129 shares (Direct, null); Ordinary Share — 41,208.54 shares (Direct, null)

Footnotes (1)

Shares withheld to satisfy tax withholding obligation arising out of the vesting of restricted stock units ("RSUs") The fractional amount shown reflects the computational result of RSU vesting and tax withholding. No fractional ordinary shares are issued. Transaction made pursuant to a Rule 10b-51 trading plan adopted by the reporting person on December 11, 2025 The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $491.7000 to $506.0200, 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 ranges set forth in this footnote. The stock option is fully vested and currently exercisable.

Key Figures

Shares sold: 20,833 Ordinary Shares Sale price (weighted average): $496.5214 per share Options exercised: 20,833 Ordinary Shares +5 more

8 metrics

Shares sold 20,833 Ordinary Shares Open-market sale on 2026-06-02

Sale price (weighted average) $496.5214 per share Open-market sale of 20,833 Ordinary Shares

Options exercised 20,833 Ordinary Shares Stock option exercise on 2026-06-02

Exercise price $151.2500 per share Stock option converted into Ordinary Shares

Tax-withheld shares 116.64 Ordinary Shares Withheld to satisfy RSU-related tax obligations on 2026-06-01

Tax-withholding price $497.6800 per share Value used for RSU tax-withholding shares

Shares held after transactions 20,375.54 Ordinary Shares Direct holdings following transactions

Remaining stock options 0 No derivative positions shown in derivativeSummary after exercise

Key Terms

restricted stock units ("RSUs"), tax withholding obligation, Rule 10b-51 trading plan, weighted average price, +1 more

5 terms

restricted stock units ("RSUs") financial

"Shares withheld to satisfy tax withholding obligation arising out of the vesting of restricted stock units ("RSUs")"

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 obligation financial

"Shares withheld to satisfy tax withholding obligation arising out of the vesting of restricted stock units"

Rule 10b-51 trading plan regulatory

"Transaction made pursuant to a Rule 10b-51 trading plan adopted by the reporting person on December 11, 2025"

weighted average price financial

"The price reported 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.

stock option financial

"The stock option is fully vested and currently exercisable."

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

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Form 4 Insider Transactions: What Each Field Means →

06/03/2026 - 05:05 PM

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).

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^*

Soderstrom Gustav

(Last)

(First)

(Middle)

C/O SPOTIFY AB

REGERINGSGATAN 19

(Street)

STOCKHOLM

111 53

(City)

(State)

(Zip)

SWEDEN

(Country)

2. Issuer Name and Ticker or Trading Symbol
Spotify Technology S.A. [ SPOT ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Co-Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Share	06/01/2026		F		116.64⁽¹⁾	D	$497.68	20,375.54⁽²⁾	D
Ordinary Share	06/02/2026		M		20,833⁽³⁾	A	$151.25	41,208.54⁽²⁾	D
Ordinary Share	06/02/2026		S		20,833⁽³⁾	D	$496.5214⁽⁴⁾	20,375.54⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$151.25	06/02/2026		M			20,833⁽³⁾	⁽⁵⁾	03/01/2027	Ordinary Share	20,833	$0	167,129	D

Explanation of Responses:

1. Shares withheld to satisfy tax withholding obligation arising out of the vesting of restricted stock units ("RSUs")

2. The fractional amount shown reflects the computational result of RSU vesting and tax withholding. No fractional ordinary shares are issued.

3. Transaction made pursuant to a Rule 10b-51 trading plan adopted by the reporting person on December 11, 2025

4. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $491.7000 to $506.0200, 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 ranges set forth in this footnote.

5. The stock option is fully vested and currently exercisable.

Remarks:

	/s/ Sung Lee, Attorney-in-fact	06/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Spotify (SPOT) Co-CEO Gustav Soderstrom report?

Gustav Soderstrom reported exercising stock options for 20,833 Ordinary Shares and selling 20,833 Ordinary Shares in open-market trades. He also had 116.64 shares withheld to cover tax obligations linked to restricted stock unit vesting, leaving him with 20,375.54 Ordinary Shares held directly.

At what prices did Gustav Soderstrom exercise and sell Spotify (SPOT) shares?

Soderstrom exercised stock options at an exercise price of $151.2500 per share and sold 20,833 Ordinary Shares at a weighted average price of $496.5214. The tax-withholding disposition of 116.64 shares used a price of $497.6800 per share, according to the reported figures.

How many Spotify (SPOT) shares does Gustav Soderstrom hold after these transactions?

Following the reported option exercise, sale, and tax-withholding disposition, Soderstrom directly holds 20,375.54 Ordinary Shares. This figure reflects his position after exercising 20,833 options, selling 20,833 shares in the market, and having 116.64 shares withheld to satisfy tax obligations.

What does the tax-withholding transaction mean in Gustav Soderstrom’s Spotify (SPOT) Form 4?

The filing notes 116.64 Ordinary Shares were withheld to satisfy tax withholding obligations arising from restricted stock unit vesting. This F-code transaction is a tax-withholding disposition, meaning shares were retained by the issuer for taxes rather than sold in the open market.