Robinhood Markets’ (HOOD) Chief Financial Officer (CFO) Jason Warnick has filed the necessary paper work to sell up to $25 million of stock he owns in the online trading platform.
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Specifically, Warnick has filed a Rule 10b5-1 trading plan with the U.S. Securities and Exchange Commission (SEC) seeking to sell up to 525,000 HOOD shares that are worth $25 million based on the current price. Company insiders use trading plans to remove the appearance that they might benefit from the knowledge of nonpublic information. The plans automatically execute trades when preset conditions such as price, volume, and timing are met.
The stock sale comes with Robinhood’s shares up 27% this year, far outpacing the benchmark S&P 500 index that is down 4% year-to-date. News of the stock sale comes along with Robinhood Markets’ first-quarter financial results, which came in higher than had been expected on Wall Street.
The CFO’s new trading plan expires on June 24, 2026, meaning that Warnick has until then to sell up to 525,000 shares of HOOD stock. He last sold Robinhood stock on Feb. 25 of this year, when a previous trading plan he entered into sold 25,000 shares for proceeds of $1.15 million.