Every officer and director reconciles for this period.
External context: we only cite outside events when a documented connection exists. None is shown for this period.
What stands out
Two officers sold more than 25% of vested holdings: Jennifer Wong (42% of holdings, $108M, all under a disclosed plan) and Michelle Reynolds (63% of holdings, $3.7M, all under a disclosed plan).Jennifer Wong: largest sale, Dec 19, 2025 · Michelle Reynolds: largest sale, Dec 9, 2025
Sarah Farrell bought 61K shares for $8.9M, first on Feb 10, 2026.Purchase, Feb 10, 2026
Percentages cover 11 of 13 officers and directors. Left out: Christopher Slowe and Benjamin Lee (most of their shares vested during the period, so a percentage would mislead). Disclosed company stock is not an insider's whole wealth.
Who sold, and how much of their stake
Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.
SoldRest of starting stakeAdded during the period
Jennifer Wong
Chief Operating Officer
42% · $108MDisclosed plan
Steve Huffman
CEO & President, Director
11% · $75.7MDisclosed plan
Christopher Slowe
Chief Technology Officer
Sold 40% of the shares held or received (after tax withholding) during the period†. No bar against the starting stake: most of these shares arrived during the period.
$32.8MDisclosed plan
Benjamin Lee
Chief Legal Officer
Sold 62% of the shares held or received (after tax withholding) during the period†. No bar against the starting stake: most of these shares arrived during the period.
$26.8MDisclosed plan
Michelle Reynolds
Chief Accounting Officer
63% · $3.7MDisclosed plan
Selling by month
Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.
Disclosed planTo cover taxesNo plan disclosed
Common questions
Is the Reddit CEO selling stock?
Yes. Steve Huffman sold 431K shares ($75.7M, 11% of starting holdings) in the past 12 months, all of it under a trading plan disclosed in the filings.
Why are Reddit insiders selling?
Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 99.7% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 0.3% had no disclosed plan. A trading plan schedules sales in advance.
Are any Reddit insiders buying?
Yes. 1 officer or director reported 4 purchases in the past 12 months (Form 4 code P, which includes private purchases).
How much of their stake did Reddit insiders sell?
About 1.3% overall. As a group they still hold 99% of their starting shares. The biggest individual seller, Jennifer Wong, gave up 42% of starting holdings. That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.
The evidence
Who sold7 officers and directors: amount, % of holdings, trading plan
| Who sold | Amount | % of holdings | Trading plan |
|---|---|---|---|
| Jennifer Wong Chief Operating Officer | $108M 592K shares | 42% | Disclosed plan |
| Steve Huffman CEO & President, Director | $75.7M 431K shares | 11% | Disclosed plan |
| Christopher Slowe Chief Technology Officer | $32.8M 173K shares | 40%†i† Most of the shares Christopher Slowe sold arrived during the period, so this is shares sold as a share of the 227K held at the start plus the 226K received, less 25K withheld by the company for taxes. | Disclosed plan |
| Benjamin Lee Chief Legal Officer | $26.8M 117K shares | 62%†i† Most of the shares Benjamin Lee sold arrived during the period, so this is shares sold as a share of the 83K held at the start plus the 129K received, less 24K withheld by the company for taxes. | Disclosed plan |
| Michelle Reynolds Chief Accounting Officer | $3.7M 18K shares | 63% | Disclosed plan |
| Andrew Vollero Chief Financial Officer | $3.3M 13K shares | 4.5% | Disclosed plan |
| Robert Sauerberg Director | $820K 5.1K shares | 15% | No plan disclosed |
The full ownership picture13 of 13 insiders fully reconciled · 13 officers and directors
Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.
| Insider | Held Oct 8, 2025 | Sold | Held Oct 8, 2026 | Still held | ||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Steven NewhouseiIncludes unvested RSUs, amount not disclosed. Director | 76.32M | 0 | 76.32M | no sales | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Steven Newhouse0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Steve Huffman CEO & President, Director | 4.08M | −431K | 3.91M | 96% | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Steve Huffman+431Kshares vested or exercised −8.1Kgifted (net of own trusts) −161Kwithheld by the company for taxes none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($147.25 − strike price), using the most recent insider trade price on Form 4 (Sep 29, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jennifer WongiIncludes unvested RSUs, amount not disclosed. Chief Operating Officer | 1.41M | −592K | 1.05M | 74% | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Jennifer Wong+395Kshares vested or exercised −9.9Kgifted (net of own trusts) −152Kwithheld by the company for taxes none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($147.25 − strike price), using the most recent insider trade price on Form 4 (Sep 29, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Andrew VolleroiIncludes unvested RSUs, amount not disclosed. Chief Financial Officer | 284K | −13K | 234K | 82% | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Andrew Vollero0shares vested or exercised 0gifted (net of own trusts) −54Kwithheld by the company for taxes none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher SloweiIncludes unvested RSUs, amount not disclosed. Chief Technology Officer | 227K | −173K | 193K | not meaningful | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Christopher Slowe+33Kshares vested or exercised 0gifted (net of own trusts) −25Kwithheld by the company for taxes none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($147.25 − strike price), using the most recent insider trade price on Form 4 (Sep 29, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Benjamin LeeiIncludes unvested RSUs, amount not disclosed. Chief Legal Officer | 83K | −117K | 72K | not meaningful | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Benjamin Lee+100Kshares vested or exercised 0gifted (net of own trusts) −24Kwithheld by the company for taxes none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($147.25 − strike price), using the most recent insider trade price on Form 4 (Sep 29, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
David HabigeriIncludes unvested RSUs, amount not disclosed. Director | 35K | 0 | 38K | no sales | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for David Habiger | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Robert SauerbergiIncludes unvested RSUs, amount not disclosed. Director | 35K | −5.1K | 31K | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Robert Sauerberg0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||||||||||||||||||
Patricia FilikrusheliIncludes unvested RSUs, amount not disclosed. Director | 30K | 0 | 32K | no sales | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Patricia Filikrushel | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mary GaleiIncludes unvested RSUs, amount not disclosed. Director | 29K | 0 | 31K | no sales | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Mary Gale0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||||||||||||||||||
Michelle ReynoldsiIncludes unvested RSUs, amount not disclosed. Chief Accounting Officer | 28K | −18K | 14K | 49% | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Michelle Reynolds0shares vested or exercised −800gifted (net of own trusts) −7.5Kwithheld by the company for taxes none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sarah FarrelliIncludes unvested RSUs, amount not disclosed. Director | 7.8K | 0 | 71K | no sales | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Sarah Farrell0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||||||||||||||||||
Michael SeibeliIncludes unvested RSUs, amount not disclosed. Director | 3.4K | 0 | 5.5K | no sales | ||||||||||||||||||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Michael Seibel0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($147.25 − strike price), using the most recent insider trade price on Form 4 (Sep 29, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
13 of 13 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (13 exactly, 0 with a minor or footnoted difference). Percentages cover 11 of 13 officers and directors. Left out: Christopher Slowe and Benjamin Lee (most of their shares vested during the period, so a percentage would mislead). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.
What explains the selling$251M of sales by plan status, purpose, seller and month
Officer and director open-market sales: $251M across 1,348,130 shares. Plan status and stated purpose are separate questions, and a sale can have both.
The lighter segment is sales with no plan disclosed in the filing ($820K), including tax-related sales outside a plan.
No plan disclosed · $820K
Sales with no 10b5-1 plan and no tax reference in the filing. $820K of it is Robert Sauerberg. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Robert Sauerberg, Aug 25, 2026
Taxes
423,999 shares ($68.5M) were withheld by the company for taxes, which isn't a market sale.
Purchases · 1 buyer (4 trades)
1 officer or director bought shares in this period, in 4 trades(Form 4 code P). Across all their filings on record there are 9 purchase trades.
Charitable gifts · 19K shares
Gifts the filings describe as charitable. Gifts are not sales and are not included in the sale totals.
| Seller | Shares sold | Proceeds | Under a disclosed plan | Share of total | Sales dates |
|---|---|---|---|---|---|
| Jennifer Wong Chief Operating Officer | 592K | $108M | 100% | 43% | Oct 23, 2025 to Sep 14, 2026 |
| Steve Huffman CEO & President, Director | 431K | $75.7M | 100% | 30% | Oct 15, 2025 to Sep 29, 2026 |
| Christopher Slowe Chief Technology Officer | 173K | $32.8M | 100% | 13% | Oct 22, 2025 to Apr 8, 2026 |
| Benjamin Lee Chief Legal Officer | 117K | $26.8M | 100% | 11% | Nov 24, 2025 to Feb 23, 2026 |
| Michelle Reynolds Chief Accounting Officer | 18K | $3.7M | 100% | 1% | Nov 24, 2025 to Jul 1, 2026 |
| Andrew Vollero Chief Financial Officer | 13K | $3.3M | 100% | 1% | Jan 6, 2026 to Jan 13, 2026 |
| Robert Sauerberg Director | 5.1K | $820K | 0% | 0.3% | Aug 25, 2026 to Aug 25, 2026 |
Sales by month
| Month | Sale proceeds | Disclosed plan | To cover taxes | No plan disclosed |
|---|---|---|---|---|
| Oct 2025 | $15.1M | $15.1M | $0 | $0 |
| Nov 2025 | $39.5M | $39.5M | $0 | $0 |
| Dec 2025 | $43.1M | $43.1M | $0 | $0 |
| Jan 2026 | $34.3M | $34.3M | $0 | $0 |
| Feb 2026 | $16.3M | $16.3M | $0 | $0 |
| Mar 2026 | $13.0M | $13.0M | $0 | $0 |
| Apr 2026 | $11.5M | $11.5M | $0 | $0 |
| May 2026 | $15.3M | $15.3M | $0 | $0 |
| Jun 2026 | $13.3M | $13.3M | $0 | $0 |
| Jul 2026 | $11.5M | $11.5M | $0 | $0 |
| Aug 2026 | $23.0M | $22.1M | $0 | $820K |
| Sep 2026 | $15.0M | $15.0M | $0 | $0 |
| Oct 2026 | $0 | $0 | $0 | $0 |
Is this normal? Selling year by yearNot enough history to compare
Not enough history to compare: fewer than three earlier years of filings.
| 12 months ending | Shares sold | Insiders who sold | Proceeds |
|---|---|---|---|
| Oct 8, 2026 Latest 12 months | 1.35M | 7 | $251M |
| Oct 8, 2025 1 year earlier | 2.67M | 8 | $392M |
| Oct 8, 2024 2 years earlier · filings don't cover the whole year | 2.13M | 7 | $91.1M |
| Oct 9, 2023 3 years earlier · filings don't cover the whole year | n/a | n/a | n/a |
| Oct 9, 2022 4 years earlier · filings don't cover the whole year | n/a | n/a | n/a |
| Oct 9, 2021 5 years earlier · filings don't cover the whole year | n/a | n/a | n/a |
Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.
Known gaps and uncertaintyEvery officer and director reconciles
Sources and methodology301 filings from SEC EDGAR, and how we read them
All 301 Forms 3, 4 and 5 filed for Reddit (SEC CIK 1713445) from Mar 20, 2024 to Oct 7, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages.
Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.
Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".
Former or inactive filers (3)No filing in 18 months; last reported balances, not in any total
| Name | Last filed | Last reported balance |
|---|---|---|
| Advance Magazine Publishers Inc. | Nov 22, 2024 | 76,309,774 shares, last reported balance as of Mar 25, 2024 |
| Tencent Holdings Ltd | Nov 21, 2024 | 12,411,829 shares, last reported balance as of Nov 19, 2024 |
| Paul Cappuccio | No balance on record |