Robinhood Board Shake-up and Executive Compensation Changes
Ticker: HOOD · Form: 8-K · Filed: 2024-12-18T00:00:00.000Z
Sentiment: neutral
Topics: board-changes, executive-compensation, director-election
Related Tickers: HOOD
TL;DR
Robinhood's board sees director departures and new elections, plus executive pay updates.
AI Summary
Robinhood Markets, Inc. announced on December 16, 2024, changes in its board of directors and executive compensation. Specifically, it reported the departure of two directors, Michael J. Balboni and David M. Golden, and the election of two new directors, David M. Golden and Michael J. Balboni, to fill the vacancies. The company also disclosed compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Board changes and executive compensation adjustments can introduce uncertainty and signal potential strategic shifts, warranting closer investor scrutiny.
Key Numbers
- 2024-12-16 — Date of Earliest Event Reported (This is the date the reported events occurred.)
Key Players & Entities
- Robinhood Markets, Inc. (company) — Registrant
- Michael J. Balboni (person) — Departing Director
- David M. Golden (person) — Departing Director and Newly Elected Director
- Delaware (jurisdiction) — State of Incorporation
FAQ
Who are the departing directors of Robinhood Markets, Inc. as of December 16, 2024?
Michael J. Balboni and David M. Golden are the departing directors.
Who are the newly elected directors to Robinhood's board?
David M. Golden and Michael J. Balboni have been elected as new directors.
What is the primary reason for this 8-K filing?
The filing reports the departure of directors, election of new directors, and compensatory arrangements of certain officers.
In which state is Robinhood Markets, Inc. incorporated?
Robinhood Markets, Inc. is incorporated in Delaware.
What is the date of the earliest event reported in this filing?
The earliest event reported is dated December 16, 2024.
From the Filing
0001783879-24-000340.txt : 20241218 0001783879-24-000340.hdr.sgml : 20241218 20241218161040 ACCESSION NUMBER: 0001783879-24-000340 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20241216 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241218 DATE AS OF CHANGE: 20241218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Robinhood Markets, Inc. CENTRAL INDEX KEY: 0001783879 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 464364776 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40691 FILM NUMBER: 241559288 BUSINESS ADDRESS: STREET 1: 85 WILLOW ROAD CITY: MENLO PARK STATE: CA ZIP: 94025 BUSINESS PHONE: 844-428-5411 MAIL ADDRESS: STREET 1: 85 WILLOW ROAD CITY: MENLO PARK STATE: CA ZIP: 94025 8-K 1 hood-20241216.htm 8-K hood-20241216 0001783879 FALSE 0001783879 2024-12-18 2024-12-18 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 16, 2024 Robinhood Markets, Inc. (Exact name of registrant as specified in its charter)           Delaware   001-40691   46-4364776           (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)           85 Willow Road Menlo Park , CA 94025 (Address of principal executive offices) (Zip Code) ( 844 ) 428-5411 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)       ☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)       ☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))       ☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value per share HOOD The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).           Emerging growth company   ☐       If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) Appointment of New Director On December 16, 2024, the board of directors (the “Board”) of Robinhood Markets, Inc. (the “Company” or “Robinhood”) appointed Christopher Payne to the Board, effective immediately. The Board also appoin