Reddit's Chief Accounting Officer Files Insider Transaction to Cover Tax Liabilities
Michelle Marie Reynolds, chief accounting officer at Reddit (RDDT), sold 1,265 shares on August 20 as part of an automatic tax withholding process tied to the vesting of restricted stock units. The transaction was not a discretionary sale but rather a standard mechanism for handling equity compensation taxes. Following this, she retained ownership of 13,795 shares, representing approximately 0.01% of Reddit's outstanding stock. Reddit reported strong financial performance in its latest quarter with revenue rising to $805 million and an adjusted EBITDA margin reaching 43%. The company also raised guidance for the third quarter but saw a 21% drop in share price following concerns over declining U.S. daily users, which are crucial to its advertising-driven business model.
Tickers: $RDDT
Topics: insider trading Reddit SEC filing