HOOD insider Baiju Bhatt trust trades 418,338 shares on 11/17/25
Rhea-AI Filing Summary
Robinhood Markets, Inc. director Form 4 insider transaction reports that the Baiju Bhatt Living Trust used a Rule 10b5-1 trading plan to sell an aggregate of 418,338 shares of Class B Common Stock on 11/17/2025, which automatically converted into the same number of Class A shares upon sale. The Living Trust then sold Class A Common Stock in multiple transactions that day at weighted-average prices ranging from about $112.46 to $120.95, in blocks including 38,936, 44,897 and 84,332 shares. Following these reported sales, the Form 4 shows 47,264,176 derivative securities (Class B Common Stock) still indirectly owned by the Living Trust.
Positive
- None.
Negative
- None.
Insights
Large pre-planned insider share sale and class conversion reduces indirect Class A holdings, while substantial Class B derivative interest remains.
The reporting person, a director of Robinhood Markets, Inc., completed a sizable transaction on
Despite the Class A reduction, the trust still beneficially owns 47,264,176 derivative securities tied to Class B Common Stock as shown in Table II. The trades relied on a pre-established Rule 10b5-1 plan, which is designed to separate trading mechanics from day-to-day discretion and can reduce concerns about timing decisions. All sale prices are disclosed as weighted averages with undertakings to provide detailed trade data on request, which supports transparency around execution.
This activity matters because it changes the mix and amount of reported indirect beneficial ownership across share classes and derivatives, which can affect voting power and economic exposure. The automatic conversion of Class B into Class A on sale also reflects the company’s dual-class structure mechanics in practice. A useful focus point over the next several quarters is whether similar 10b5-1-driven sales continue in comparable size, since they would further shift the balance between Class A and Class B holdings.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 418,338 | $0.00 | -- |
| Conversion | Class A Common Stock | 418,338 | $0.00 | -- |
| Sale | Class A Common Stock | 38,936 | $113.079 | $4.40M |
| Sale | Class A Common Stock | 44,897 | $113.8089 | $5.11M |
| Sale | Class A Common Stock | 30,292 | $114.9351 | $3.48M |
| Sale | Class A Common Stock | 78,685 | $115.9462 | $9.12M |
| Sale | Class A Common Stock | 66,645 | $117.0582 | $7.80M |
| Sale | Class A Common Stock | 84,332 | $117.838 | $9.94M |
| Sale | Class A Common Stock | 37,135 | $118.9522 | $4.42M |
| Sale | Class A Common Stock | 31,444 | $119.8343 | $3.77M |
| Sale | Class A Common Stock | 5,972 | $120.6999 | $721K |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- As part of the transactions effected on November 17, 2025 pursuant to the Rule 10b5-1 trading plan adopted by the Baiju Bhatt Living Trust ("Living Trust") on August 12, 2024 ("Bhatt 10b5-1 plan"), the Living Trust sold an aggregate of 418,338 shares of its Class B Common Stock, resulting in an automatic conversion of the same amount of shares into Class A Common Stock upon execution of the sales This transaction was effected pursuant to the Bhatt 10b5-1 plan. This transaction was executed in multiple trades during the day at prices ranging from $112.46 to $113.45. 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 transaction was executed in multiple trades during the day at prices ranging from $113.46 to $114.45. 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 transaction was executed in multiple trades during the day at prices ranging from $114.46 to $115.45. 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 transaction was executed in multiple trades during the day at prices ranging from $115.46 to $116.45. 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 transaction was executed in multiple trades during the day at prices ranging from $116.46 to $117.45. 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 transaction was executed in multiple trades during the day at prices ranging from $117.46 to $118.45. 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 transaction was executed in multiple trades during the day at prices ranging from $118.46 to $119.45. 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 transaction was executed in multiple trades during the day at prices ranging from $119.46 to $120.45. 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 transaction was executed in multiple trades during the day at prices ranging from $120.46 to $120.95. 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.
FAQ
What insider transaction did Robinhood (HOOD) disclose in this Form 4?
The filing shows that the Baiju Bhatt Living Trust, related to a director of Robinhood Markets, Inc., sold 418,338 shares of Class B Common Stock on 11/17/2025, which automatically converted into the same number of Class A shares upon execution of the sales.
Were the Robinhood (HOOD) insider sales made under a Rule 10b5-1 plan?
Yes. The transactions on November 17, 2025 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Baiju Bhatt Living Trust on August 12, 2024, referred to as the Bhatt 10b5-1 plan.
How many Robinhood (HOOD) derivative securities does the reporting person still hold?
After the reported transactions, the Form 4 indicates that the Baiju Bhatt Living Trust indirectly beneficially owns 47,264,176 derivative securities, described as Class B Common Stock underlying derivative securities, with a conversion into Class A Common Stock at an exercise price of $0.
What is the relationship of the reporting person to Robinhood (HOOD)?
The reporting person in this Form 4 is identified as a Director of Robinhood Markets, Inc., with ownership held indirectly through the Baiju Bhatt Living Trust.