Spotify co-CEO Gustav Soderstrom sells 20,910 shares

After the exercise, the reported option balance was 83,640; the transactions were made under a Rule 10b5-1 plan adopted June 12, 2026.

Rhea-AI Filing Summary

Spotify Technology S.A. Co-Chief Executive Officer Gustav Soderstrom exercised stock options for 20,910 ordinary shares at $151.25 per share on October 12, 2026; the reported option balance afterward was 83,640. He also sold 20,910 ordinary shares that day in eight transactions, each with a reported weighted-average price. The exercise and sales were made under a Rule 10b5-1 trading plan adopted June 12, 2026.

Insider Trade Summary 10b5-1

Exercise and Sale: 20,910 shares ($7.92M approx. pre-tax spread)

Exercise and Sale 10 txns

Insider Soderstrom Gustav

Role Co-Chief Executive Officer

Sold 20,910 shs ($11.09M)

Approx. gross sale proceeds $11.09M

Approx. exercise cost $3.16M

Approx. pre-tax spread $7.92M

Type	Security	Shares	Price	Value
Exercise	Stock Option F1, F11	20,910	$0.00	$0.00
Exercise	Ordinary Share F1, F2	20,910	$151.25	$3.16M
Sale	Ordinary Share F1, F3, F2	1,086	$527.054	$572K
Sale	Ordinary Share F1, F4, F2	4,081	$527.9525	$2.15M
Sale	Ordinary Share F1, F5, F2	6,282	$529.1061	$3.32M
Sale	Ordinary Share F1, F6, F2	1,818	$530.2125	$964K
Sale	Ordinary Share F1, F7, F2	1,666	$531.0252	$885K
Sale	Ordinary Share F1, F8, F2	1,850	$532.1428	$984K
Sale	Ordinary Share F1, F9, F2	2,610	$533.0258	$1.39M
Sale	Ordinary Share F1, F10, F2	1,517	$533.9738	$810K

Holdings After Transaction: Stock Option — 83,640 contracts (Direct); Ordinary Share — 19,908.44 shares (Direct)

Footnotes (11)

1. F1. Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 12, 2026.
2. F2. The fractional amount shown reflects the computational result of restricted stock units vesting and tax withholding. No fractional ordinary shares are issued.
3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $526.55 to $527.445, 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.
4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $527.55 to $528.54, 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. F5. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $528.61 to $529.51, 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.
6. F6. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $529.61 to $530.5475, 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.
7. F7. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $530.7 to $531.23, 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.
8. F8. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $531.63 to $532.48, 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.
9. F9. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $532.56 to $533.525, 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.
10. F10. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $533.56 to $534.52, 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.
11. F11. The stock option is fully vested and currently exercisable.

Key Figures

Options exercised: 20,910 options Option exercise price: $151.25 per share Ordinary shares sold: 20,910 shares +3 more

6 metrics

Options exercised 20,910 options October 12, 2026

Option exercise price $151.25 per share Exercise on October 12, 2026

Ordinary shares sold 20,910 shares Eight transactions on October 12, 2026

Stock options following exercise 83,640 options Reported after the October 12, 2026 exercise

Reported weighted-average sale prices $527.0540, $527.9525, $529.1061, $530.2125, $531.0252, $532.1428, $533.0258 and $533.9738 per share Eight ordinary-share sale entries on October 12, 2026

Shares acquired through option exercise 20,910 ordinary shares October 12, 2026

Key Terms

Rule 10b5-1 trading plan, weighted average price, restricted stock units

3 terms

Rule 10b5-1 trading plan regulatory

"made pursuant to a Rule 10b5-1 trading plan"

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.

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.

restricted stock units financial

"computational result of restricted stock units vesting"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many options did SPOT Co-Chief Executive Officer Gustav Soderstrom exercise?

He exercised options for 20,910 ordinary shares on October 12, 2026, at $151.25 per share. The options were fully vested and currently exercisable, and the reported option balance afterward was 83,640.

How many SPOT shares did Gustav Soderstrom sell, and at what prices?

He sold 20,910 ordinary shares on October 12, 2026, across eight transactions. The reported weighted-average prices were $527.0540, $527.9525, $529.1061, $530.2125, $531.0252, $532.1428, $533.0258 and $533.9738 per share. The sales were made under a Rule 10b5-1 plan adopted June 12, 2026.

When do Gustav Soderstrom's reported remaining SPOT stock options expire?

The reported option balance following the October 12, 2026 exercise was 83,640 stock options, with an expiration date of March 1, 2027.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/14/2026 - 04:15 PM EDT Accepted by SEC EDGAR 10/14/2026 - 04:15 PM EDT Learn about SEC filing dates

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^*

Soderstrom Gustav

(Last) (First) (Middle)

C/O SPOTIFY AB

REGERINGSGATAN 19

(Street)

STOCKHOLM 11153

(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)
10/12/2026

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)
			Code	V	Amount	(A) or (D)	Price
Ordinary Share	10/12/2026		M		20,910(1)	A	$151.25	40,818.44(2)	D
Ordinary Share	10/12/2026		S		1,086(1)	D	$527.054(3)	39,732.44(2)	D
Ordinary Share	10/12/2026		S		4,081(1)	D	$527.9525(4)	35,651.44(2)	D
Ordinary Share	10/12/2026		S		6,282(1)	D	$529.1061(5)	29,369.44(2)	D
Ordinary Share	10/12/2026		S		1,818(1)	D	$530.2125(6)	27,551.44(2)	D
Ordinary Share	10/12/2026		S		1,666(1)	D	$531.0252(7)	25,885.44(2)	D
Ordinary Share	10/12/2026		S		1,850(1)	D	$532.1428(8)	24,035.44(2)	D
Ordinary Share	10/12/2026		S		2,610(1)	D	$533.0258(9)	21,425.44(2)	D
Ordinary Share	10/12/2026		S		1,517(1)	D	$533.9738(10)	19,908.44(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$151.25	10/12/2026		M			20,910(1)	(11)	03/01/2027	Ordinary Share	20,910	$0	83,640	D

Explanation of Responses:

1. Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 12, 2026.

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

3. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $526.55 to $527.445, 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.

4. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $527.55 to $528.54, 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 price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $528.61 to $529.51, 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.

6. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $529.61 to $530.5475, 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.

7. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $530.7 to $531.23, 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.

8. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $531.63 to $532.48, 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.

9. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $532.56 to $533.525, 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.

10. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $533.56 to $534.52, 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.

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

	/s/ Sung Lee, Attorney-in-Fact	10/14/2026
	** 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)