Reddit CEO Huffman Discloses 11.4% Stake

TL;DR

**REDDIT CEO HOLDS 11.4% OF CLASS A STOCK POST-IPO**

AI Summary

Steven Huffman, CEO of Reddit, Inc., filed an SC 13D on May 3, 2024, reporting beneficial ownership of 11.4% of the company's Class A Common Stock. This filing indicates a significant stake held by the CEO following Reddit's recent IPO.

Why It Matters

This filing clarifies the CEO's substantial ownership in Reddit post-IPO, providing insight into insider control and potential future strategic decisions.

Risk Assessment

Risk Level: medium — While the CEO's stake is significant, it's a disclosure of existing ownership rather than a new acquisition, but it could signal future strategic moves.

Key Numbers

• 11.4% — Beneficial Ownership (Percentage of Reddit's Class A Common Stock held by Steven Huffman.)
• 0001193125-24-130868 — Accession Number (Unique identifier for this SEC filing.)
• 20240503 — Filing Date (Date the SC 13D filing was submitted to the SEC.)

Key Players & Entities

• Steven Huffman (person) — CEO and reporting person
• Reddit, Inc. (company) — Subject company
• 11.4% (dollar_amount) — Percentage of Class A Common Stock beneficially owned

FAQ

Key Financial Figures

• $0.0001 — Name of Issuer) Class A Common Stock, $0.0001 par value (Title of Class of Securiti
• $32.30 — s of Class A Common Stock at a price of $32.30 per share, which is equal to the public
• $34.00 — s equal to the public offering price of $34.00 per share minus the underwriting discou
• $1.70 — underwriting discount and commission of $1.70 per share. As described further in It

Filing Documents

• d804372dsc13d.htm (SC 13D) — 59KB
• d804372dex1.htm (EX-1) — 99KB
• d804372dex2.htm (EX-2) — 61KB
• d804372dex3.htm (EX-3) — 57KB
• 0001193125-24-130868.txt ( ) — 277KB

From the Filing

SC 13D 1 d804372dsc13d.htm SC 13D SC 13D SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. )* Reddit, Inc. (Name of Issuer) Class A Common Stock, $0.0001 par value (Title of Class of Securities) 75734B 100 (CUSIP Number) Steven Huffman c/o Reddit, Inc. 303 2 nd Street, South Tower, 5 th Floor San Francisco, California 94107 (415) 494-8016 (Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications) April 26, 2024 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 75734B 100 1 Name of Reporting Person Steven Huffman 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3 SEC Use Only 4 Source of Funds (See Instructions) SC, PF 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6 Citizenship or Place of Organization United Number of Shares Beneficially Owned by Each Reporting Person With 7 Sole Voting Power 4,764,799 8 Shared Voting Power 57,655,068* 9 Sole Dispositive Power 4,764,799 10 Shared Dispositive Power 0 11 Aggregate Amount Beneficially Owned by Each Reporting Person 62,419,867 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions): 13 Percent of Class Represented by Amount in Row (11) 61.5%** 14 Type of Reporting Person (See Instructions) IN * Represents shares subject to the Voting Agreements (as defined below). Such Voting Agreements contain provisions relating to the voting of the common stock held by certain of the parties thereto. Accordingly, Mr. Huffman may be deemed to share beneficial ownership of such shares held by such parties until the termination of the respective Voting Agreement. See Item 6. ** Calculated pursuant to Rule 13d-3 of the Exchange Act. See Item 5. 2 Item1. Security and Issuer. This Schedule 13D relates to the Class A Common Stock, par value $0.0001 per share (the Class A Common Stock), of Reddit, Inc. (the Issuer), whose principal executive offices are located at 303 2 nd Street, South Tower, 5 th Floor, San Francisco, California 94107. Item2. Identity and Background. This Schedule 13D is being filed by Steven Huffman (Mr. Huffman), the Chief Executive Officer and President and member of the board of directors (the Board) of the Issuer. Mr. Huffmans business address is c/o Reddit, Inc., 303 2 nd Street, South Tower, 5 th Floor, San Francisco, California 94107. Mr. Huffman is a United States citizen. During the last five years, Mr. Huffman has not been: (i) convicted of a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, is or was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to federal or state securities laws or finding any violation with respect to such laws. Item3. Source and Amount of Funds or Other Consideration. The information set forth in Item 6 of this Schedule 13D is hereby incorporated by reference into this Item 3. Mr. Huffman acquired beneficial ownership over shares of Class A Common Stock reported as beneficially owned herein in connection with the vesting of various equity compensation awards in connection with his service as an executive officer of the Issuer and may be deemed to have acquired beneficial ownership over the additional shares of Common Stock pursuant to the voting proxies under the Voting Agreements (the Voting Proxies) described further in Item 6 below. Item4. Purpose of Transaction. The information set forth in Items 3 and 6 of this Schedule 13D is hereby incorporated by reference into this Item 4. Mr. Huffman acqui

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