Was Brian Halligan’s HubSpot (HUBS) share sale made under a 10b5-1 plan?

Yes. The Form 4 states the reported HubSpot share sale was executed under a Rule 10b5-1 trading plan adopted on March 3, 2025. Such pre-arranged plans schedule trades in advance, reducing the significance of day-to-day market timing decisions.

HubSpot (NYSE: HUBS) director Halligan sells 8,500 shares under 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

HubSpot Inc. director Brian Halligan reported an open-market sale of 8,500 shares of Common Stock at $262.75 per share on March 17, 2026. After this sale, he directly holds 370,558 shares. An additional 102,000 shares are held indirectly through Wolf Investors, LLC, tied to a New Hampshire trust, with Halligan disclaiming beneficial ownership except for any pecuniary interest. The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 3, 2025, indicating it was scheduled in advance rather than timed discretionarily.

Insights

Routine, pre-planned insider sale of a small share position.

Director Brian Halligan completed an open-market sale of 8,500 shares of HubSpot Inc. Common Stock at $262.75 per share on March 17, 2026. Following the sale, he still directly owns 370,558 shares, indicating he retains a substantial equity stake.

The filing notes that this transaction occurred under a Rule 10b5-1 trading plan adopted on March 3, 2025, suggesting the sale was pre-scheduled. The report also lists 102,000 shares held indirectly via Wolf Investors, LLC and a related trust, with Halligan expressly disclaiming beneficial ownership beyond any pecuniary interest.

The pattern and scale are consistent with a routine diversification or liquidity move rather than a major shift in ownership. Future Form 4 filings will show whether similar small, plan-driven sales continue under the same 10b5-1 arrangement.

Insider Trade Summary 10b5-1

Net Seller: 8,500 shares ($2,233,375)

Net Sell 2 txns

Insider Halligan Brian

Role Director

Sold 8,500 shs ($2.23M)

Type	Security	Shares	Price	Value
Sale	Common Stock	8,500	$262.75	$2.23M
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 370,558 shares (Direct); Common Stock — 102,000 shares (Indirect, See Footnote.)

Footnotes (1)

This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 3/3/2025. Shares held by Wolf Investors, LLC (the "LLC"). The manager of the LLC is Paul Karger, and the sole member is the Brian P. Halligan 2026 New Hampshire Trust u/a/d February 19, 2026, of which the reporting person is the settlor. The reporting person disclaims beneficial ownership of these securities except to the extent, if any, of his pecuniary interest therein, and nothing contained in this report shall be an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Form 4 Insider Transactions: What Each Field Means →

03/19/2026 - 04:05 PM

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).

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^*

Halligan Brian

(Last)

(First)

(Middle)

C/O HUBSPOT, INC.

2 CANAL PARK

(Street)

CAMBRIDGE

MASSACHUSETTS

02141

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HUBSPOT INC [ HUBS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/17/2026		S⁽¹⁾		8,500	D	$262.75	370,558	D
Common Stock								102,000	I	See Footnote.⁽²⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 3/3/2025.

2. Shares held by Wolf Investors, LLC (the "LLC"). The manager of the LLC is Paul Karger, and the sole member is the Brian P. Halligan 2026 New Hampshire Trust u/a/d February 19, 2026, of which the reporting person is the settlor. The reporting person disclaims beneficial ownership of these securities except to the extent, if any, of his pecuniary interest therein, and nothing contained in this report shall be an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

	/s/ Joseph Theis, attorney-in-fact	03/19/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did HubSpot (HUBS) director Brian Halligan report?

Brian Halligan reported an open-market sale of 8,500 HubSpot Common Stock shares at $262.75 per share on March 17, 2026. This was disclosed on a Form 4 insider filing covering his direct holdings in the company.

How many HubSpot (HUBS) shares does Brian Halligan hold after this Form 4 sale?

After selling 8,500 shares, Brian Halligan directly holds 370,558 HubSpot shares. The filing also shows 102,000 shares held indirectly through Wolf Investors, LLC and a related trust, for which he disclaims beneficial ownership except for any pecuniary interest.

What role does Wolf Investors, LLC play in Brian Halligan’s HubSpot (HUBS) holdings?

Wolf Investors, LLC holds 102,000 HubSpot shares referenced as indirect holdings in the Form 4. The manager is Paul Karger, and the sole member is a New Hampshire trust for which Halligan is settlor, while he disclaims beneficial ownership beyond any pecuniary interest.

Does this HubSpot (HUBS) Form 4 indicate any derivative or option exercises by Brian Halligan?

No derivative or option exercises are reported in this Form 4. The transaction data show only a single open-market sale of 8,500 shares of HubSpot Common Stock and a separate line reflecting 102,000 shares as an indirect holding, with no derivative positions listed.