Spotify (SPOT) director Marshall awarded 658 RSUs and updates fund-linked holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Marshall Christopher P reported acquisition or exercise transactions in this Form 4 filing.
Spotify Technology S.A. director Christopher P. Marshall reported a new equity award and updated his indirect holdings in the company’s ordinary shares. He received a grant of 658 Restricted Stock Units, each representing one ordinary share at no cost, increasing his directly held shares to 4,697.
According to the footnotes, 1,717 of these directly held shares are in the form of RSUs that vest between February 15, 2027 and February 15, 2029, while the newly granted 658 RSUs will vest in four equal installments on February 15 of 2027, 2028, 2029, and 2030. The filing also lists significant indirect holdings through multiple TCV-sponsored entities and a family trust. Marshall is a member, owner, or trustee of these entities but disclaims beneficial ownership of their shares except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
9 transactions reported
Mixed
9 txns
Insider
Marshall Christopher P
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Ordinary Share | 658 | $0.00 | -- |
| holding | Ordinary Share | -- | -- | -- |
| holding | Ordinary Share | -- | -- | -- |
| holding | Ordinary Share | -- | -- | -- |
| holding | Ordinary Share | -- | -- | -- |
| holding | Ordinary Share | -- | -- | -- |
| holding | Ordinary Share | -- | -- | -- |
| holding | Ordinary Share | -- | -- | -- |
| holding | Ordinary Share | -- | -- | -- |
Holdings After Transaction:
Ordinary Share — 4,697 shares (Direct, null);
Ordinary Share — 70,344 shares (Indirect, Marshall Carroll 2000 Trust)
Footnotes (1)
- These shares are held via Restricted Stock Unit ("RSU"). Each RSU represents a contingent right to receive one (1) Ordinary Share of the Issuer upon settlement for no consideration. 1/4 of these RSUs will vest on each of 2/15/27, 2/15/28, 2/15/29, and 2/15/30. 1,717 of these shares are held via RSU. Each RSU represents a contingent right to receive one (1) Ordinary Share of the Issuer upon settlement for no consideration. 138 RSUs were granted on 6/1/23 and will fully vest on 2/15/27. 542 RSUs were granted on 6/3/24; 50% will vest on 2/15/27 and the remaining 50% will vest on 2/15/28. 379 RSUs were granted on 6/2/25; 1/3 will vest on each of 2/15/27, 2/15/28 and 2/15/29. 658 RSUs were granted on 5/28/26; 1/4 will vest on each of 2/15/27, 2/15/28, 2/15/29, and 2/15/30. Christopher P. Marshall has sole dispositive power over the options and shares he holds directly. However, TCV VIII Management, L.L.C. ("Management VIII LLC") and TCV XI Management, L.L.C. ("Management XI LLC") have a right to 100% of the pecuniary interest in such options. Mr. Marshall is a Member of Management VIII LLC and an owner of Management XI LLC. Mr. Marshall disclaims beneficial ownership of such shares and options, along with the shares to be received upon the exercise of such options, except to the extent of his pecuniary interest therein. These shares are directly held by Marshall Carroll 2000 Trust ("MC Trust"). Christopher P. Marshall is a Trustee of MC Trust. Mr. Marshall disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are directly held by TCV XI Spotify, L.P. ("TCV XI Spotify"). Christopher P. Marshall is a Class A Member and Class A Director of Technology Crossover Management XI, Ltd. ("Management XI"). Management XI is the general partner of Technology Crossover Management XI, L.P. ("TCM XI") which is the general partner of TCV XI, L.P. ("TCV XI"). TCV XI owns 100% of TCV XI Spotify. Mr. Marshall disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are directly held by TCV XI Spotify (A), L.P. ("TCV XI A Spotify"). Christopher P. Marshall is a Class A Member and Class A Director of Management XI. Management XI is the general partner of TCM XI which is the general partner of TCV XI (A), L.P. ("TCV XI (A)"). TCV XI (A) owns 100% of TCV XI A Spotify. Mr. Marshall disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are directly held by TCV XI Spotify (B), L.P. ("TCV XI B Spotify"). Christopher P. Marshall is a Class A Member and Class A Director of Management XI. Management XI is the general partner of TCM XI which is the general partner of TCV XI (B), L.P. ("TCV XI (B)"). TCV XI (B) owns 100% of TCV XI B Spotify. Mr. Marshall disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are directly held by TCV XI (Lux), SCSp ("TCV XI Lux"). Christopher P. Marshall is a Class A Member and Class A Director of Management XI. Management XI is sole shareholder of Technology Crossover Management XI, S.a r.l. which is the general partner of TCV XI Lux. Mr. Marshall disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are directly held by TCV XI Spotify (MF), L.P. ("TCV XI MF Spotify"). Christopher P. Marshall is a Class A Member and Class A Director of Management XI and a limited partner of TCV XI Member Fund, L.P. ("Member Fund XI"). Management XI is the general partner of Member Fund XI which owns 100% of TCV XI MF Spotify. Mr. Marshall disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are directly held by Management VIII LLC. Christopher P. Marshall is a Member of Management VIII LLC and disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are directly held by Management XI LLC. Christopher P. Marshall is an owner of Management XI LLC and disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
Key Figures
New RSU grant: 658 RSUs
Direct shares after grant: 4,697 shares
Direct RSU component: 1,717 RSUs
+4 more
7 metrics
New RSU grant
658 RSUs
Granted on May 28, 2026 at $0.00 per share
Direct shares after grant
4,697 shares
Ordinary shares held directly following RSU grant
Direct RSU component
1,717 RSUs
Portion of direct holdings represented by RSUs
TCV XI Spotify, L.P. holding
652,521 shares
Indirect holding via TCV XI Spotify, L.P.
TCV XI Spotify (A), L.P. holding
207,103 shares
Indirect holding via TCV XI Spotify (A), L.P.
TCV XI Spotify (B), L.P. holding
46,162 shares
Indirect holding via TCV XI Spotify (B), L.P.
Marshall Carroll 2000 Trust holding
70,344 shares
Indirect holding via Marshall Carroll 2000 Trust
Key Terms
Restricted Stock Unit ("RSU"), pecuniary interest, beneficial ownership, dispositive power, +1 more
5 terms
Restricted Stock Unit ("RSU") financial
"These shares are held via Restricted Stock Unit ("RSU"). Each RSU represents a contingent right..."
pecuniary interest financial
"Mr. Marshall disclaims beneficial ownership of such shares and options, except to the extent of his pecuniary interest therein."
beneficial ownership financial
"Mr. Marshall disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
dispositive power financial
"Christopher P. Marshall has sole dispositive power over the options and shares he holds directly."
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
Class A Member financial
"Christopher P. Marshall is a Class A Member and Class A Director of Technology Crossover Management XI, Ltd."
A Class A member is an owner in a company or limited-liability entity who holds a specific category of membership interest or shares that carry distinct rights—often higher voting power, priority on profits, or special decision-making privileges. Think of it like a team captain’s badge that gives certain control or claims compared with regular members. Investors watch this because which class holds control and profit priority affects influence over strategy, dividend payouts, and the value of other owners’ stakes.
FAQ
What did Spotify (SPOT) director Christopher P. Marshall report in this Form 4?
Christopher P. Marshall reported a new equity award and updated holdings in Spotify ordinary shares. The filing shows a grant of 658 RSUs and detailed indirect positions through TCV entities and a family trust, with beneficial ownership disclaimed beyond his pecuniary interest.
How do Christopher P. Marshall’s new RSUs in Spotify (SPOT) vest?
The 658 newly granted RSUs vest in four equal installments. One-quarter vests on each of February 15, 2027, 2028, 2029, and 2030, assuming continued service and satisfaction of the grant conditions described in the award terms.
What portion of Christopher P. Marshall’s Spotify (SPOT) direct holdings are RSUs?
The filing states that 1,717 of Marshall’s directly held ordinary shares are in the form of RSUs. Each RSU represents a contingent right to receive one ordinary share of Spotify upon settlement at no cost, subject to the specified vesting schedule.
What indirect Spotify (SPOT) holdings are associated with Christopher P. Marshall?
Indirect Spotify holdings are listed under entities such as TCV XI Spotify, L.P., TCV XI Spotify (A), (B), (MF), TCV XI (Lux) SCSp, TCV VIII Management, TCV XI Management, and the Marshall Carroll 2000 Trust. Marshall disclaims beneficial ownership except for his pecuniary interest.