A Form 4 filed with the SEC on August 18, 2026 discloses that Baiju Bhatt, a director of Robinhood Markets, Inc. (NASDAQ:HOOD), sold a total of 50,317 shares of Class A Common Stock on August 14, 2026 through a Rule 10b5-1 trading plan.

Key Highlights

  • Shares sold: The Baiju Bhatt Living Trust disposed of 50,317 shares of Class A Common Stock across three separate sale transactions on August 14, 2026.
  • Conversion first: 50,317 shares of Class B Common Stock held by the Living Trust were converted into Class A Common Stock immediately prior to the sales, at a conversion price of $0.
  • Sale prices: The three tranches were sold at weighted-average prices of $95.8481, $97.1915, and $97.7854 per share, with individual trade prices ranging from $95.49 to $98.33.
  • Post-transaction holdings: Following all sales, the Living Trust holds 0 shares of Class A Common Stock indirectly, and 46,848,939 shares of Class B Common Stock indirectly.
  • 10b5-1 plan: All transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by the Living Trust on November 13, 2025.
  • Direct holdings: The filing separately notes 3,703 shares of Class A Common Stock held directly by the reporting person.

Bhatt Living Trust Converts and Sells 50,317 Robinhood Shares in Three Tranches

According to the filing, the Baiju Bhatt Living Trust executed a series of transactions on August 14, 2026 under a pre-established Rule 10b5-1 trading plan that the Living Trust adopted on November 13, 2025. As described in the filing's explanation of responses, 50,317 shares of Class B Common Stock held by the Living Trust were sold, "resulting in an automatic conversion of the same amount of shares into Class A Common Stock upon execution of the sales." The conversion carried a derivative security price of $0.

The resulting Class A shares were then disposed of in three separate sale transactions, all reported as indirect holdings through the Living Trust. The first tranche of 17,271 shares was sold at a weighted-average price of $95.8481, with individual trades ranging from $95.49 to $96.44. The second tranche of 27,245 shares was sold at a weighted-average price of $97.1915, with individual trades ranging from $96.57 to $97.56. The third and final tranche of 5,801 shares was sold at a weighted-average price of $97.7854, with individual trades ranging from $97.57 to $98.33. After these three disposals, the Living Trust's indirect Class A Common Stock position reached zero.

The filing reports that following all reported transactions, Baiju Bhatt retains an indirect beneficial ownership of 46,848,939 shares of Class B Common Stock through the Living Trust, and a direct holding of 3,703 shares of Class A Common Stock. Bhatt is identified in the filing as a director of Robinhood Markets, Inc. The form was signed by Maureen Montgomery as attorney-in-fact for Baiju Bhatt and dated August 18, 2026.

What Was Disclosed

The filing discloses the conversion of 50,317 Class B shares into Class A shares and their subsequent sale by the Baiju Bhatt Living Trust on August 14, 2026, all pursuant to a Rule 10b5-1 plan, with Bhatt retaining 46,848,939 Class B shares indirectly and 3,703 Class A shares directly.