CEO Tenev sells full HOOD position: 375,000 shares for $26.2M at blended $69.83, now holds 0 shares via derivative conversion
Tenev filed a Form 4 reporting 2 separate sales on 2026-04-06 totaling 375,000 shares (375.0K shares) for $26,187,704.21 ($26.2M) at a blended average price of $69.83. Post-transaction holdings stand at 0 shares, representing a complete exit from his direct equity stake. However, a FLAG indicates this filing contains a conversion of derivative securities; his total position includes Table II derivative holdings not yet populated in this database, so the 0 shares figure reflects only the Form 4 Table I position, not necessarily his total economic exposure. Robinhood stock has declined 9.5% over the past 30 days and 37.8% over 90 days from a 52-week high of $152.46, currently trading at $71.83. His prior 5 sales at this ticker were all well-timed against the 90-day mark, with negative 90-day returns averaging -43.2%, suggesting consistent foresight in exiting before declines. The company's latest quarterly revenue is $1,274,000,000.00 ($1.3B) with net income of $556,000,000.00 ($556.0M) and annual revenue growth of +51.6%, indicating strong fundamentals that may explain why the market decline is purely price-driven rather than earnings-driven. The conversion of derivative securities adds complexity to interpreting this as a simple directional bet and should prompt deeper analysis of the underlying economic structure of his remaining exposure.