Reddit CEO Huffman Amends 13D Filing

TL;DR

Reddit CEO Huffman filed an amendment to his stock ownership filing, no major changes disclosed yet.

AI Summary

Steven Huffman, CEO of Reddit, Inc., filed an amendment to his Schedule 13D on August 22, 2024, related to his beneficial ownership of Reddit's Class A Common Stock. The filing indicates a change in reporting, but does not specify new share acquisitions or sales, nor does it detail any changes in voting power or investment intent as of this amendment date.

Why It Matters

This amendment to a Schedule 13D filing by a company's CEO often signals a change in their holdings or reporting strategy, which can be closely watched by investors for insights into insider confidence.

Risk Assessment

Risk Level: medium — Amendments to 13D filings can sometimes precede significant corporate actions or changes in insider sentiment, warranting investor attention.

Key Players & Entities

• Steven Huffman (person) — CEO and beneficial owner filing the amendment
• Reddit, Inc. (company) — Subject company of the filing
• August 22, 2024 (date) — Date of the filing amendment

FAQ

Key Financial Figures

• $0.0001 — Name of Issuer) Class A Common Stock, $0.0001 par value (Title of Class of Securiti

Filing Documents

• d227153dsc13da.htm (SC 13D/A) — 45KB
• 0001193125-24-205536.txt ( ) — 46KB

of the Schedule 13D is hereby amended and supplemented as follows

Item 4 of the Schedule 13D is hereby amended and supplemented as follows: On May 21, 2024, Mr. Huffman, individually and through a trust for which he is a trustee, adopted a Rule 10b5-1 trading arrangement (the 2024 Rule 10b5-1 Plan) intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) for the sale of up to 1,564,489 shares of the Class A Common Stock. The 2024 Rule 10b5-1 Plan will terminate at the earlier of the execution of all trading orders pursuant to the plan or August 16, 2025. Mr. Huffman primarily intends to use the proceeds from sales under the trading plan to cover taxes due upon the exercise of expiring stock options for Issuer stock. The 2024 Rule 10b5-1 Plan will not require Mr. Huffman or the trust of which he is a trustee to sell any specific number of shares of Class A Common Stock or at all, and may be modified, suspended or terminated at any time without notice. Item5. Interest in Securities of the Issuer.

(a) (c) of the Schedule 13D is hereby amended and restated as follows

Item 5(a) (c) of the Schedule 13D is hereby amended and restated as follows: The aggregate number and percentage of shares of Class A Common Stock beneficially owned by Mr. Huffman and, the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover page of this Schedule 13D and are incorporated herein by reference. Beneficial ownership of shares of Class A Common Stock includes shares of Class A Common Stock which may be acquired upon the conversion of shares of the Issuers Class B Common Stock, par value $0.0001 per share (the Class B Common Stock and, together with the Class A Common Stock, the Common Stock). Holders of Class A Common Stock and Class B Common Stock generally vote together as a single class, unless otherwise required by law, the Issuers amended and restated certificate of incorporation, or the Issuers amended and restated bylaws. Each share of Class A Common Stock is entitled to one vote. Each share of Class B Common Stock is entitled to ten votes per share and is convertible at any time into one share of Class A Common Stock. (a)-(b) Mr. Huffman currently beneficially owns 5,312,863 shares of Class A Common Stock based on, (i) 36,869 shares of Class A Common Stock held directly by Mr. Huffman, (ii) the right to acquire 672,866 shares of Class A Common Stock upon the exercise of vested stock options or options vesting within 60 days held directly by Mr. Huffman, (iii) the right to acquire 809,734 shares of Class A Common Stock upon the conversion of an equal number of shares of Class B Common Stock held directly by Mr. Huffman, (iv) the right to acquire 224,288 shares of Class A Common Stock upon the conversion of an equal number of shares of Class B Common Stock underlying vested stock options to acquire shares of

of the Schedule 13D is hereby amended and supplemented as follows

Item 6 of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 4 of this Schedule 13D is hereby incorporated by reference into this Item 6. 5 SIGNATURE After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this Dated: August 22, 2024 /s/ Julie Rogers Julie Rogers, Attorney-in-Fact Schedule A Sales of shares of Class A Common Stock in Past 60 Days Sale of 14,000 shares on August 20, 2024: Number of Shares Average Weighted Sales Price Low Price High Price 5,000 $ 53.02 $ 52.52 $ 53.51 4,292 $ 54.13 $ 53.54 $ 54.52 4,708 $ 54.87 $ 54.54 $ 55.05 Sale of 110,408 shares on August 20, 2024: Number of Shares Average Weighted Sales Price Low Price High Price 33,026 $ 52.95 $ 52.43 $ 53.42 31,466 $ 53.91 $ 53.43 $ 54.42 45,916 $ 54.80 $ 54.43 $ 55.05 The Reporting Person undertakes to provide to the Issuer, any security of the Issuer or the staff of the of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Class A Common Stock sold at each separate price within the ranges set forth herein.

View Full Filing

View this SC 13D/A filing on SEC EDGAR