0001783879-21-000092.txt : 20211203
0001783879-21-000092.hdr.sgml : 20211203
20211203204013
ACCESSION NUMBER: 0001783879-21-000092
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20211201
FILED AS OF DATE: 20211203
DATE AS OF CHANGE: 20211203
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Bhatt Baiju
CENTRAL INDEX KEY: 0001870914
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-40691
FILM NUMBER: 211471701
MAIL ADDRESS:
STREET 1: C/O ROBINHOOD MARKETS, INC.
STREET 2: 85 WILLOW ROAD
CITY: MENLO PARK
STATE: CA
ZIP: 94025
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Robinhood Markets, Inc.
CENTRAL INDEX KEY: 0001783879
STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
IRS NUMBER: 464364776
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 85 WILLOW STREET
CITY: MENLO PARK
STATE: CA
ZIP: 94025
BUSINESS PHONE: 844-428-5411
MAIL ADDRESS:
STREET 1: 85 WILLOW STREET
CITY: MENLO PARK
STATE: CA
ZIP: 94025
4
1
wf-form4_163858200116397.xml
FORM 4
X0306
4
2021-12-01
0
0001783879
Robinhood Markets, Inc.
HOOD
0001870914
Bhatt Baiju
C/O ROBINHOOD MARKETS, INC.
85 WILLOW ROAD
MENLO PARK
CA
94025
1
1
0
0
Chief Creative Officer
Class A Common Stock
2021-12-01
4
M
0
239134
A
1131295
D
Class A Common Stock
2021-12-02
4
S
0
119041
23.8641
D
1012254
D
Class A Common Stock
2021-12-03
5
G
0
E
1012254
0
D
0
D
Class A Common Stock
2021-12-03
5
G
0
E
1012254
0
A
1012254
I
By Living Trust
Restricted Stock Units
2021-12-01
4
M
0
181501
0
D
2026-10-08
Class A Common Stock
181501.0
544505
D
Market-Based Performance Stock Units
2021-12-01
4
M
0
57633
0
D
2025-12-31
Class A Common Stock
57633.0
11699422
D
Restricted stock units ("RSUs") and performance stock units ("PSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person in July 2021, which provides for an automatic sale of a sufficient number of shares to cover the tax withholding liability associated with the vesting and settlement of the 239,134 RSUs and PSUs reported above
This transaction was executed in multiple trades during the day at prices ranging from $23.34 to $24.26 The weighted-average price is reported above. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.
This transfer reflects a contribution of shares from the Reporting Person to his living trust, which transfer is exempt under Rule 16a-13 because it effects only a change in the form of beneficial ownership without changing the Reporting Person's pecuniary interest in the shares.
On October 8, 2019, the Reporting Person was granted 2,904,024 RSUs under the Robinhood Markets, Inc. ("Robinhood") Amended and Restated 2013 Stock Plan (the "2013 Plan"). One-fourth (1/4) of these RSUs were scheduled to vest on August 1, 2019, with the remainder scheduled to vest in twelve (12) equal quarterly installments thereafter, in each case subject to the Reporting Person's continued service with Robinhood through the applicable vesting date and subject to accelerated vesting in certain circumstances.
The settlement transaction reported on this line represents RSUs that vested on November 1, 2021, for which Robinhood delayed settlement until the expiration of its initial public offering ("IPO") lock-up period.
On October 8, 2019, the Reporting Person was granted 13,831,829 market-based PSUs under the 2013 Plan, which award was amended and restated on May 26, 2021. Subject to accelerated vesting in certain circumstances, portions of the award become eligible to vest based on satisfaction of share-price goals of $30.45 (20% portion), $50.75 (30% portion), and $101.50 (50% portion). These goals were initially tested based on Robinhood's IPO price, and thereafter are tested based on its trailing 60-trading-day average daily VWAP. When a share-price goal is achieved, half of the PSUs allocated to that level vest immediately, with the other half of the PSUs allocated to that level vesting in accordance with a time-based service schedule in twenty-four (24) equal quarterly installments from a vesting commencement date of August 1, 2018 through August 1, 2024, subject to the Reporting Person's continued service with Robinhood through the applicable vesting date.
The settlement transaction reported on this line represents the portion of PSUs allocated to the $30.45 price level (which was satisfied by the IPO price) that vested upon satisfaction of the time-based service condition on November 1, 2021, for which Robinhood delayed settlement until the expiration of its IPO lock-up period.
/s/ Christina Lai, attorney-in-fact for Baiju Bhatt
2021-12-03