SPOT insider ownership: who sold, why, and what they still hold

What stands out

Three directors sold $22.9M with no disclosed plan: Sven Lorentzon ($18.6M), Thomas Staggs ($2.9M) and Christopher Marshall ($1.4M). The filings don't state a reason.Sven Lorentzon: largest such sale, May 22, 2026 · Thomas Staggs: largest such sale, May 26, 2026 · Christopher Marshall: largest such sale, May 26, 2026

A share of stake is shown for 0 of the 6 officers and directors who sold. 16 are left out

Left out: Sven Lorentzon, Daniel Ek, BARRY McCARTHY, Christopher Marshall, Shishir Mehrotra, Alex Norstrom, Dustee Jenkins, Thomas Staggs, Theodore Sarandos, Gustav Soderstrom, Heidi O'Neill, Padmasree Warrior, Anna Lundstrom, John Giraldo, Mona Sutphen and Christian Luiga (share of stake is being verified).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Gustav Soderstrom

Co-Chief Executive Officer, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$61.1MDisclosed plan

Sven Lorentzon

Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$18.6MNo plan disclosed

Alex Norstrom

Co-Chief Executive Officer, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$13.0MDisclosed plan

Thomas Staggs

Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$2.9MNo plan disclosed

Dustee Jenkins

Chief Public Affairs Officer

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$2.0MTo cover taxes

All 6 sellers

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 disclosedOne dollar scale for every month; the tallest bar is labeled

Recent activity

Past 30 days, Sep 14, 2026 to Oct 13, 2026

Oct 1, 20266 executives had 1.7K shares ($853K) withheld by the company for taxes (not a market sale). 2K shares came in from vesting or option exercises the same day, so their combined holdings rose by 285 net.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Alex Norstrom Co-Chief Executive Officer, Director	809	$487.38	n/a	n/a	Oct 1, 2026	Oct 5, 2026
Dustee Jenkins Chief Public Affairs Officer	427	$487.38	n/a	n/a	Oct 1, 2026	Oct 5, 2026
Anna Lundstrom Chief Human Resources Officer	250	$487.38	n/a	n/a	Oct 1, 2026	Oct 5, 2026
Gustav Soderstrom Co-Chief Executive Officer, Director	117	$487.38	n/a	n/a	Oct 1, 2026	Oct 5, 2026
Christian Luiga Chief Financial Officer	105	$487.38	n/a	n/a	Oct 1, 2026	Oct 5, 2026
John Giraldo Chief Accounting Officer	42	$487.38	n/a	n/a	Oct 1, 2026	Oct 5, 2026

Sep 14, 2026Gustav Soderstrom sold 21K shares ($11.4M) to cover taxes on vesting stock. 21K shares came in from vesting or option exercises the same day, so the holding rose by 0 net.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Gustav Soderstrom Co-Chief Executive Officer, Director Also under a disclosed plan	20,913	$544.19	n/a	n/a	Sep 14, 2026	Sep 16, 2026

"% of total stake" is the shares in an event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings are not confirmed, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Outside holders, reported separately

Christopher Marshall reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Spotify Technology S.A. CEO selling stock?

Yes. Alex Norstrom sold 27K shares ($13.0M) in the past 12 months, all of it under a trading plan disclosed in the filings.

Why are Spotify Technology S.A. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 75% of sales by value ran under 10b5-1 trading plans disclosed in the filings, 2% were to cover taxes and 23% had no disclosed plan. A trading plan schedules sales in advance.

Are any Spotify Technology S.A. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold6 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Gustav Soderstrom Co-Chief Executive Officer, Director	$61.1M 125K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Sven Lorentzon Director	$18.6M 35K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
Alex Norstrom Co-Chief Executive Officer, Director	$13.0M 27K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Thomas Staggs Director	$2.9M 5.5K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
Dustee Jenkins Chief Public Affairs Officer	$2.0M 3.8K shares	Not confirmed share of stake is being verified. Why	To cover taxes
Christopher Marshall Director	$1.4M 2.6K shares	Not confirmed share of stake is being verified. Why	No plan disclosed

Board members representing outside shareholders, reported separately: Christopher Marshall. Details

The full ownership picture0 of 16 officers and directors confirmed

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 13, 2025

Sold

Held Oct 13, 2026

Still held

Sven Lorentzon

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Sven Lorentzon are complete.

Director

n/a

−35K

n/a

Vesting, gifts, unvested awards and holding lines for Sven Lorentzon

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Sven Lorentzon are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
6,627	$153.92	Jun 1, 2028	$2.6M
6,505	$470.43	Jun 3, 2029	$514K
1,518	$672.00	Jun 2, 2030	$0
1,974	$516.71	May 28, 2031	$65K

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Daniel Ek

Director

n/a

Vesting, gifts, unvested awards and holding lines for Daniel Ek

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Daniel Ek are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

BARRY McCARTHY

Director

n/a

Vesting, gifts, unvested awards and holding lines for BARRY McCARTHY

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for BARRY McCARTHY are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,060	$112.77	May 31, 2027	$5.3M
6,627	$153.92	Jun 1, 2028	$2.6M
3,252	$313.62	Jun 3, 2029	$767K
1,518	$672.00	Jun 2, 2030	$0
1,974	$516.71	May 28, 2031	$65K

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Christopher Marshall

Director

n/a

−2.6K

n/a

Vesting, gifts, unvested awards and holding lines for Christopher Marshall

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Christopher Marshall are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
5,630	$241.57	May 31, 2026	$1.7M
12,060	$112.77	May 31, 2027	$5.3M
4,970	$153.92	Jun 1, 2028	$2.0M

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Shishir Mehrotra

Director

n/a

Vesting, gifts, unvested awards and holding lines for Shishir Mehrotra

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Shishir Mehrotra are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
18,090	$169.16	May 31, 2027	$6.9M
9,940	$230.88	Jun 1, 2028	$3.2M
4,879	$470.43	Jun 3, 2029	$386K
3,036	$1008.00	Jun 2, 2030	$0
3,948	$775.07	May 28, 2031	$0

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Alex Norstrom

Co-Chief Executive Officer, Director

n/a

−27K

n/a

Vesting, gifts, unvested awards and holding lines for Alex Norstrom

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Alex Norstrom are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

−5.6Kwithheld by the company for taxes

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
133,106	$117.20	Mar 1, 2028	$57.5M
71,090	$263.75	Mar 1, 2029	$20.3M
31,133	$602.26	May 1, 2030	$0
129,152	$580.71	Jan 1, 2031	$0

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Dustee Jenkins

Chief Public Affairs Officer

n/a

−3.8K

n/a

Vesting, gifts, unvested awards and holding lines for Dustee Jenkins

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Dustee Jenkins are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

−2.9Kwithheld by the company for taxes

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,377	$151.25	Mar 1, 2027	$548K
8,797	$263.75	Mar 1, 2029	$2.5M
11,208	$602.26	May 1, 2030	$0
16,987	$441.51	May 1, 2031	$1.8M
6,105	$491.40	Oct 1, 2031	$355K

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Thomas Staggs

Director

n/a

−5.5K

n/a

Vesting, gifts, unvested awards and holding lines for Thomas Staggs

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Thomas Staggs are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
6,562	$169.16	May 31, 2027	$2.5M
9,843	$112.77	May 31, 2027	$4.3M
7,212	$153.92	Jun 1, 2028	$2.9M
3,539	$313.62	Jun 3, 2029	$835K
1,652	$672.00	Jun 2, 2030	$0
2,148	$516.71	May 28, 2031	$70K

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Theodore Sarandos

Director

n/a

Vesting, gifts, unvested awards and holding lines for Theodore Sarandos

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Theodore Sarandos are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,060	$112.77	May 31, 2027	$5.3M
6,627	$153.92	Jun 1, 2028	$2.6M
3,252	$313.62	Jun 3, 2029	$767K
1,518	$672.00	Jun 2, 2030	$0
494	$516.71	May 28, 2031	$16K

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Gustav Soderstrom

Co-Chief Executive Officer, Director

n/a

−125K

n/a

Vesting, gifts, unvested awards and holding lines for Gustav Soderstrom

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Gustav Soderstrom are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

−818withheld by the company for taxes

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
104,550	$151.25	Mar 1, 2027	$41.6M
244,212	$117.20	Mar 1, 2028	$106M
109,596	$263.75	Mar 1, 2029	$31.3M
31,133	$602.26	May 1, 2030	$0
129,152	$580.71	Jan 1, 2031	$0

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Heidi O'Neill

Director

n/a

Vesting, gifts, unvested awards and holding lines for Heidi O'Neill

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Heidi O'Neill are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
759	$1008.00	Jun 2, 2030	$0

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Padmasree Warrior

Director

n/a

Vesting, gifts, unvested awards and holding lines for Padmasree Warrior

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Padmasree Warrior are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,657	$153.92	Jun 1, 2028	$655K
1,626	$313.62	Jun 3, 2029	$384K
379	$672.00	Jun 2, 2030	$0

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Anna Lundstrom

Chief Human Resources Officer

n/a

Vesting, gifts, unvested awards and holding lines for Anna Lundstrom

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Anna Lundstrom are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

−1.6Kwithheld by the company for taxes

John Giraldo

Chief Accounting Officer

n/a

Vesting, gifts, unvested awards and holding lines for John Giraldo

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for John Giraldo are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

−42withheld by the company for taxes

Mona Sutphen

Director

n/a

Vesting, gifts, unvested awards and holding lines for Mona Sutphen

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Mona Sutphen are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
5,544	$169.16	May 31, 2027	$2.1M
1,507	$112.77	May 31, 2027	$658K
2,439	$313.62	Jun 3, 2029	$575K
1,138	$672.00	Jun 2, 2030	$0
1,481	$516.71	May 28, 2031	$49K
987	$775.07	May 28, 2031	$0

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Christian Luiga

Chief Financial Officer

n/a

Vesting, gifts, unvested awards and holding lines for Christian Luiga

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Christian Luiga are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

−526withheld by the company for taxes

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
9,989	$375.40	Oct 1, 2029	$1.7M
6,227	$602.26	May 1, 2030	$0

Estimate: options held × ($549.49 − strike price), using the most recent insider trade price on Form 4 (Sep 14, 2026), not a market close.

Holdings and share of stake for Spotify Technology S.A. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$98.9M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $98.9M across 199,575 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $74.1M · 75%

25%

The lighter segment is sales with no plan disclosed in the filing ($24.8M), including tax-related sales outside a plan.

No plan disclosed · $22.9M

Sales with no 10b5-1 plan and no tax reference in the filing. $18.6M of it is Sven Lorentzon. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Sven Lorentzon, May 22, 2026

Taxes

$76.1M of sales (76.9%) cite tax obligations in their footnotes, $74.1M of them also under a plan. Separately, 11,441 shares ($5.6M) were withheld by the company for taxes, which isn't a market sale. Example: Gustav Soderstrom, Sep 14, 2026

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Gustav Soderstrom Co-Chief Executive Officer, Director	125K	$61.1M	100%	62%	Apr 1, 2026 to Sep 14, 2026
Sven Lorentzon Director	35K	$18.6M	0%	19%	May 22, 2026 to May 22, 2026
Alex Norstrom Co-Chief Executive Officer, Director	27K	$13.0M	100%	13%	Apr 1, 2026 to Aug 3, 2026
Thomas Staggs Director	5.5K	$2.9M	0%	3%	May 26, 2026 to May 26, 2026
Dustee Jenkins Chief Public Affairs Officer	3.8K	$2.0M	0%	2%	Aug 14, 2026 to Aug 14, 2026
Christopher Marshall Director	2.6K	$1.4M	0%	1%	May 26, 2026 to May 26, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$0	$0	$0	$0
Nov 2025	$0	$0	$0	$0
Dec 2025	$0	$0	$0	$0
Jan 2026	$0	$0	$0	$0
Feb 2026	$0	$0	$0	$0
Mar 2026	$0	$0	$0	$0
Apr 2026	$12.5M	$12.5M	$0	$0
May 2026	$34.2M	$11.3M	$0	$22.9M
Jun 2026	$13.1M	$13.1M	$0	$0
Jul 2026	$12.6M	$12.6M	$0	$0
Aug 2026	$15.3M	$13.3M	$2.0M	$0
Sep 2026	$11.4M	$11.4M	$0	$0
Oct 2026	$0	$0	$0	$0

Board members representing outside shareholders (1)Listed and sourced; not part of the management totals or the answer line

Directors whose reported holdings sit mostly in an investment fund or a corporate shareholder they represent, not in their own name, with beneficial ownership disclaimed except for their own financial interest. Listed and sourced here; not part of the management totals or the answer line. Shares a fund hands to its own investors are distributions, not sales.

Board member	Held Oct 13, 2025	Sold	Held Oct 13, 2026	Still held
Christopher Marshall ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Christopher Marshall are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Christopher Marshall Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Christopher Marshall are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)

Known gaps and uncertainty16 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Spotify Technology S.A. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology71 filings on record, 71 filed in the 12-month period, and how we read them

All 71 Forms 3, 4 and 5 on record for Spotify Technology S.A. (SEC CIK 1639920), filed from Mar 18, 2026 to Oct 5, 2026; 71 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 13, 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".

Full methodology

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

Spotify Technology S.A. insiders sold $98.9M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Recent activity

Outside holders, reported separately

Common questions

Is the Spotify Technology S.A. CEO selling stock?

Why are Spotify Technology S.A. insiders selling?

Are any Spotify Technology S.A. insiders buying?

The evidence

No plan disclosed · $22.9M

Taxes

Sales by month