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  4. [Form 4] Spotify Technology S.A. Insider Trading Activity

Spotify Co-CEO sells 20,913 shares after option

Spotify’s Co‑CEO exercised options and sold 20,913 SPOT Ordinary Shares under a pre‑set Rule 10b5‑1 trading plan.

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Filing Sentiment
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Form Type
4

Rhea-AI Filing Summary

Spotify Technology S.A. insider Gustav Söderström, Co‑Chief Executive Officer and director, exercised stock options for 20,913 Ordinary Shares at $151.25 per share on September 14, 2026, and sold 20,913 Ordinary Shares the same day in multiple transactions at prices between approximately $537.19 and $550.09 per share. The stock option was fully vested and exercisable, and 104,550 options remained outstanding after the exercise. These trades were made pursuant to a Rule 10b5‑1 trading plan adopted on June 12, 2026.

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Insider Soderstrom Gustav
Role Co-Chief Executive Officer
Sold 20,913 shs ($11.38M)
Approx. gross sale proceeds $11.38M
Approx. exercise cost $3.16M
Approx. pre-tax spread $8.22M
Type Security Shares Price Value
Exercise Stock Option F1, F14 20,913 $0.00 $0.00
Exercise Ordinary Share F1, F2 20,913 $151.25 $3.16M
Sale Ordinary Share F1, F2 39 $537.19 $21K
Sale Ordinary Share F1, F3, F2 154 $539.9187 $83K
Sale Ordinary Share F1, F4, F2 1,259 $540.6905 $681K
Sale Ordinary Share F1, F5, F2 2,230 $541.717 $1.21M
Sale Ordinary Share F1, F6, F2 3,829 $542.7058 $2.08M
Sale Ordinary Share F1, F7, F2 3,069 $543.7851 $1.67M
Sale Ordinary Share F1, F8, F2 4,400 $544.6414 $2.40M
Sale Ordinary Share F1, F9, F2 1,958 $545.6017 $1.07M
Sale Ordinary Share F1, F10, F2 2,194 $546.6834 $1.20M
Sale Ordinary Share F1, F11, F2 755 $547.8089 $414K
Sale Ordinary Share F1, F12, F2 693 $548.7354 $380K
Sale Ordinary Share F1, F13, F2 333 $549.4942 $183K
Holdings After Transaction: Stock Option — 104,550 contracts (Direct); Ordinary Share — 20,025.08 shares (Direct)
Footnotes (14)
  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 $539.865 to $540.01, 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 $540.215 to $541.09, 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 $541.235 to $542.17, 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 $542.29 to $543.13, 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 $543.29 to $544.17, 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 $544.19 to $545.1725, 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 $545.19 to $546.18, 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 $546.245 to $547.16, 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 price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $547.39 to $548.165, 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.
  12. F12. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $548.24 to $548.95, 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.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $549.22 to $550.09, 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.
  14. F14. The stock option is fully vested and currently exercisable.
Options exercised 20,913 options Stock options exercised into Ordinary Shares on September 14, 2026
Exercise price $151.25 per share Exercise price for 20,913 stock options converted into Ordinary Shares
Shares sold 20,913 shares Total Spotify Ordinary Shares sold across 12 transactions on September 14, 2026
Sale price range $537.19–$550.09 per share Price range for reported sales of Ordinary Shares, including weighted average tranches
Remaining stock options 104,550 options Stock options reported as held directly after the 20,913-option exercise
Rule 10b5-1 plan adoption date June 12, 2026 Date the trading plan governing these transactions was adopted
Rule 10b5-1 trading plan regulatory
"Transaction made 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.
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.
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 and tax withholding."
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.

What did SPOT’s Co-CEO Gustav Söderström report on this Form 4?
He exercised stock options for 20,913 Spotify Ordinary Shares at $151.25 per share and sold 20,913 Ordinary Shares on September 14, 2026, in a series of market transactions.

At what prices were Gustav Söderström’s SPOT shares sold?
He sold 20,913 Spotify Ordinary Shares in multiple trades at prices between approximately $537.19 and $550.09 per share, including several tranches reported with weighted average prices across narrow intra-day ranges.

Were Gustav Söderström’s SPOT trades made under a Rule 10b5-1 plan?
Yes. The filing states the transactions were made pursuant to a Rule 10b5‑1 trading plan adopted on June 12, 2026, indicating the trades followed a pre-arranged schedule rather than being initiated spontaneously.

How many Spotify options did Gustav Söderström exercise and what remains?
He exercised 20,913 stock options, converting them into the same number of Ordinary Shares at an exercise price of $151.25 per share. After this exercise, 104,550 stock options of the same grant remained outstanding.

What role does Gustav Söderström hold at Spotify Technology S.A. (SPOT)?
He is reported as both a director and an officer of Spotify Technology S.A., serving in the role of Co‑Chief Executive Officer, according to the Form 4 disclosure.

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

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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*
Soderstrom Gustav
(Last)(First)(Middle)
C/O SPOTIFY AB
REGERINGSGATAN 19
(Street)
STOCKHOLM11153
(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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Co-Chief Executive Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/14/2026		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
Ordinary Share09/14/2026M20,913(1)A$151.2540,938.08(2)D
Ordinary Share09/14/2026S39(1)D$537.1940,899.08(2)D
Ordinary Share09/14/2026S154(1)D$539.9187(3)40,745.08(2)D
Ordinary Share09/14/2026S1,259(1)D$540.6905(4)39,486.08(2)D
Ordinary Share09/14/2026S2,230(1)D$541.717(5)37,256.08(2)D
Ordinary Share09/14/2026S3,829(1)D$542.7058(6)33,427.08(2)D
Ordinary Share09/14/2026S3,069(1)D$543.7851(7)30,358.08(2)D
Ordinary Share09/14/2026S4,400(1)D$544.6414(8)25,958.08(2)D
Ordinary Share09/14/2026S1,958(1)D$545.6017(9)24,000.08(2)D
Ordinary Share09/14/2026S2,194(1)D$546.6834(10)21,806.08(2)D
Ordinary Share09/14/2026S755(1)D$547.8089(11)21,051.08(2)D
Ordinary Share09/14/2026S693(1)D$548.7354(12)20,358.08(2)D
Ordinary Share09/14/2026S333(1)D$549.4942(13)20,025.08(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$151.2509/14/2026M20,913(1) (14)03/01/2027Ordinary Share20,913$0104,550D
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 $539.865 to $540.01, 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 $540.215 to $541.09, 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 $541.235 to $542.17, 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 $542.29 to $543.13, 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 $543.29 to $544.17, 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 $544.19 to $545.1725, 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 $545.19 to $546.18, 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 $546.245 to $547.16, 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 price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $547.39 to $548.165, 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.
12. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $548.24 to $548.95, 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.
13. The price reported in Column 4 is a weighted average price. These shares were sold in transactions at prices ranging from $549.22 to $550.09, 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.
14. The stock option is fully vested and currently exercisable.
/s/ Sung Lee, Attorney-in-Fact09/16/2026
** 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

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