Chief Technology Officer Slowe Christopher Brian covered exercise/tax liability with 31,370 shares, converted options into 11,000 shares and sold $3,796,163 worth of shares (26,000 units at $146.01), decreasing direct ownership by 12% to 297,925 units (SEC Form 4)
$RDDT
EDP Services
Technology
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
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Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | ||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Reddit, Inc. [ RDDT ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 11/20/2024 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Class A Common Stock | 11/20/2024 | F | 31,370(1) | D | $137.16 | 307,925 | D | |||
| Class A Common Stock | 11/22/2024 | C | 11,000 | A | $0 | 318,925 | D | |||
| Class A Common Stock | 11/22/2024 | S | 1,803(2) | D | $144.01(3) | 317,122 | D | |||
| Class A Common Stock | 11/22/2024 | S | 2,100(2) | D | $145.07(4) | 315,022 | D | |||
| Class A Common Stock | 11/22/2024 | S | 10,875(2) | D | $145.97(5) | 304,147 | D | |||
| Class A Common Stock | 11/22/2024 | S | 5,422(2) | D | $146.78(6) | 298,725 | D | |||
| Class A Common Stock | 11/22/2024 | S | 800(2) | D | $148.26(7) | 297,925 | D | |||
| Class A Common Stock | 11/22/2024 | S | 800(2) | D | $144.41(8) | 29,268 | I | By The Slowe Family Trust dated January 26, 2012 | ||
| Class A Common Stock | 11/22/2024 | S | 2,712(2) | D | $145.92(9) | 26,556 | I | By The Slowe Family Trust dated January 26, 2012 | ||
| Class A Common Stock | 11/22/2024 | S | 1,188(2) | D | $146.75(10) | 25,368 | I | By The Slowe Family Trust dated January 26, 2012 | ||
| Class A Common Stock | 11/22/2024 | S | 300(2) | D | $147.97(11) | 25,068 | I | By The Slowe Family Trust dated January 26, 2012 | ||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (Right to Buy) | $1.93 | 11/22/2024 | M | 11,000 | (12) | 02/25/2026 | Class B Common Stock | 11,000 | $0 | 254,920 | D | ||||
| Class B Common Stock | (13) | 11/22/2024 | M | 11,000 | (13) | (13) | Class A Common Stock | 11,000 | $0 | 31,184 | D | ||||
| Class B Common Stock | (13) | 11/22/2024 | C | 11,000 | (13) | (13) | Class A Common Stock | 11,000 | $0 | 20,184 | D | ||||
| Explanation of Responses: |
| 1. These shares were withheld by the Company to satisfy the reporting person's tax withholding obligations. Not a market sale. |
| 2. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 21, 2024. |
| 3. The sales were executed in multiple trades at prices ranging from $143.45 to $144.41. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price within the ranges set forth in footnotes (3) to (11) to this Form 4. |
| 4. The sales were executed in multiple trades at prices ranging from $144.49 to $145.47. |
| 5. The sales were executed in multiple trades at prices ranging from $145.49 to $146.48. |
| 6. The sales were executed in multiple trades at prices ranging from $146.49 to $147.39. |
| 7. The sales were executed in multiple trades at prices ranging from $147.75 to $148.56. |
| 8. The sales were executed in multiple trades at prices ranging from $144.12 to $144.58. |
| 9. The sales were executed in multiple trades at prices ranging from $145.36 to $146.35. |
| 10. The sales were executed in multiple trades at prices ranging from $146.42 to $147.17. |
| 11. The sales were executed in multiple trades at prices ranging from $147.55 to $148.21. |
| 12. The stock option is fully vested and currently exercisable. |
| 13. The Class B Common Stock is convertible at any time at the option of the holder into the Issuer's Class A Common Stock on a one-to-one basis. |
| Remarks: |
| /s/ Julie Rogers, Attorney-in-Fact | 11/22/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||