The transaction was automatic to cover tax liabilities from vesting restricted stock units, not a discretionary sale.
Reddit Inc.’s chief accounting officer, Michelle Marie Reynolds, sold 1,265 shares of Class A Common Stock on August 20, according to an SEC filing. The transaction, valued at a weighted average price of $151.71, was executed to satisfy tax obligations tied to the vesting of restricted stock units.
Following the sale, Reynolds retains direct ownership of 13,795 shares, reducing her holdings by 8%. The remaining stake represents approximately 0.01% of the company’s outstanding shares, aligning with standard equity compensation practices.
The shares were withheld automatically, a common mechanism for managing tax liabilities associated with equity awards. The company’s stock closed at $150.31 on August 20, down slightly from the transaction price.