Robinhood CEO Trust Files Form 144 to Sell $33.1M in Common Stock

Executive Summary

On October 15, 2026, the Tenev 2017 Irrevocable Trust, affiliated with Robinhood Co-Founder and CEO Vladimir Tenev, filed a Form 144 notice of proposed sale covering 327,500 shares of Robinhood Markets, Inc. ($HOOD) Common Stock. The aggregate market value of the proposed transaction is approximately $33.10 million, reflecting an implied price of $101.08 per share.

Transaction Details

• Filer: The Tenev 2017 Irrevocable Trust
• Insider Role: Director / Officer (Vladimir Tenev)
• Shares Proposed for Sale: 327,500
• Aggregate Market Value: $33,103,700.00
• Security Origin: Founder's Shares acquired directly from the issuer on April 30, 2019
• Trading Plan: Executed pursuant to a Rule 10b5-1 trading plan established on September 5, 2025
• Broker: Morgan Stanley Smith Barney LLC Executive Financial Services

Recent Trading Activity (Past 3 Months)

Prior to this filing, the insider executed three significant sales under the Rule 10b5-1 plan:

• October 5, 2026: 375,000 shares for $42,643,537.50 (~$113.72/share)
• September 22, 2026: 240,834 shares for $30,184,351.39 (~$125.33/share)
• September 21, 2026: 259,166 shares for $32,545,573.86 (~$125.58/share)

Combined with the current planned transaction, the trust has liquidated or proposed to liquidate 1,202,500 shares worth approximately $138.48 million within a one-month window.

Market Impact & Interpretation

• Trading Significance: High. While sales are executed systematically under a pre-established Rule 10b5-1 plan (adopted over a year prior in September 2025), the total dollar magnitude exceeds $138 million across consecutive tranches.
• Dilution & Float Context: With 790,630,234 shares outstanding, the proposed 327,500 shares represent roughly 0.04% of total outstanding shares, limiting broader market disruption despite the large dollar nominal value.