Reddit CEO Steve Huffman Exercises & Sells $2.66M in Stock via 10b5-1 Plan

Executive Summary

On August 31, 2026, Reddit CEO & President Steve Huffman exercised options to acquire 18,000 shares of Class A Common Stock at $25.29 per share and concurrently sold all 18,000 shares across multiple tranches at a weighted average price of approximately $148.02, generating total gross proceeds of ~$2.66 million.

Transaction Details

• Option Exercise: 18,000 shares exercised at $25.29/share ($455,220 total cost basis).
• Sales Breakdown:
  • 10,200 shares at weighted average $147.66
  • 7,000 shares at weighted average $148.35
  • 700 shares at weighted average $149.59
  • 100 shares at $151.17
• Net Cash Generated: ~$2.21 million (pre-tax).
• Plan Details: All transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on May 19, 2025.

Ownership Post-Transaction

• The XYZ Revocable Trust: 336,432 Class A Common shares and 1,045,255 stock options remaining.
• Grantor Retained Annuity Trusts (GRATs): 82,760 Class A Common shares held indirectly across three trusts.

Market Significance

Low. This transaction represents a routine, pre-scheduled option exercise and liquidation under a Rule 10b5-1 plan established over a year prior. Huffman retains substantial equity exposure through direct/indirect stock and over 1 million stock options.