Robinhood Chief Legal Officer Sells $1.14M in Shares Under 10b5-1 Plan

Executive Summary

On October 5, 2026, Daniel Martin Gallagher Jr., Chief Legal Officer of Robinhood Markets, Inc. ($HOOD), executed an open-market sale of 10,000 shares of Class A Common Stock for an aggregate amount of approximately $1.14 million. The sale was carried out under a pre-established Rule 10b5-1 trading plan adopted on August 8, 2025.

Transaction Details

The transactions were executed across three tranches on October 5, 2026:

• 4,800 shares at a weighted-average price of $113.2794 (range: $112.70 – $113.68)
• 4,700 shares at a weighted-average price of $114.0063 (range: $113.71 – $114.68)
• 500 shares at a weighted-average price of $115.0580 (range: $114.73 – $115.27)

In total, 10,000 shares were sold at a volume-weighted average price of $113.71, yielding gross proceeds of $1,137,099.73.

Ownership Impact

Following these sales, Gallagher retains direct beneficial ownership of 499,943 shares of Robinhood Class A Common Stock. The disposition represents approximately 1.96% of his direct holdings prior to the transactions.

Significance Assessment

The trading significance is assessed as Low:

1. Routine Execution: The sales were executed under a Rule 10b5-1 trading plan established over a year prior (August 8, 2025), removing discretionary timing based on material non-public information.
2. Modest Position Reduction: Gallagher retains a substantial stake exceeding 499,000 shares, with the transaction reducing his position by under 2%.
3. Market Impact: Given the volume and plan-based nature, this transaction reflects routine portfolio management rather than a shift in sentiment regarding company fundamentals.