Wong Jennifer L. 4

What Happened
Jennifer L. Wong, Chief Operating Officer of Reddit, reported a series of open‑market sales on January 20, 2026, disposing of a total of approximately 39,167 shares for aggregate proceeds of about $8,841,315. The transactions were executed in multiple trades at prices that ranged roughly from $218.64 to $228.74, with an overall weighted average near $225.7 per share. These sales were effected pursuant to a Rule 10b5‑1 trading plan adopted May 16, 2025, which is a pre‑arranged plan that allows insiders to sell predetermined amounts regardless of short‑term company news.

Key Details

• Transaction date: January 20, 2026; Form 4 filed January 22, 2026 (timely filing).
• Total shares sold: ~39,167; total proceeds: ~$8.84 million.
• Price range reported across multiple trades: approximately $218.64–$228.74; weighted average ~ $225.7.
• Footnotes: Sales were made under a 10b5‑1 plan (adopted May 16, 2025). The filing includes footnotes stating many trades were executed in multiple lots and the reporting person will provide a detailed breakdown of prices on request.
• Shares owned after the transaction: not specified in the supplied excerpt.
• Transaction type: S = Sale (routine sale under an established trading plan, not an option exercise, gift, or award).

Context
Sales under a 10b5‑1 plan are typically pre‑scheduled and do not necessarily indicate a change in insider sentiment about the company; they often serve liquidity or diversification purposes. For retail investors, purchases by insiders typically carry more immediate informational value than routine sales, though large or repeated sales can be worth noting alongside other developments.