'Robinhood' Director Acquires Hundreds of Billions in Company Shares While Executing Large Option Hedges

According to Form 4, Robinhood Markets, Inc. (HOOD) director Meyer Malka purchased approximately 430,000 shares of Class A common stock in the open market through Rivet Capital–affiliated funds on May 28 and June 3, for a total consideration of about USD 35 million (roughly KRW 49 billion). The same filing also disclosed the vesting and conversion of certain existing RSUs on June 1 and the grant of new annual director RSUs on June 2. Separately, it revealed that on May 22 Malka executed a structured hedge transaction through Bullfrog Capital, using three FLEX put options expiring December 31, 2027, to adjust his downside and upside exposure to the stock simultaneously.

Recently, Robinhood reported its April operating metrics and continued external investor-relations activities, with management presentations at key events such as the Bernstein Strategic Decisions Conference in late May and the Piper Sandler Global Technology Conference on June 4. At the company’s 2026 annual shareholders’ meeting on June 2, proposals on board composition, executive compensation and auditor appointments were approved as presented. Following the news of insider purchases on June 4, Robinhood’s shares were volatile, rising more than 6% intraday.

Robinhood is a U.S. fintech brokerage that grew by offering commission-free trading in stocks, options and cryptocurrencies via a mobile-first platform. It has expanded into a broader financial platform by diversifying revenue streams—including interest income, transaction fees, subscriptions and event-driven contracts. Meyer Malka is the founder and managing partner of Rivet Capital, which has made early- and growth-stage investments in global fintech firms such as Robinhood, Coinbase and Nubank. In this filing, Malka noted that he recognizes beneficial ownership only to the extent of his economic interest in shares held by the funds and special-purpose vehicles.