'Reddit' CEO Cashes Out Part of $90 Million Stake… Sells Shares After Exercising Stock Options

Reddit, Inc. (RDDT) disclosed that in mid-April and again in early to mid-May, CEO Steve Huffman and COO Jennifer L. Wong exercised stock options and sold a portion of their holdings under pre-established 10b5-1 trading plans.

On May 5 and 15, Huffman exercised tens of thousands of options through a trust and sold an equal number of shares on the open market, securing roughly $6 million (about KRW 10 billion) in liquidity, while still retaining an indirect stake of approximately 410,000 shares (around KRW 90 billion) via entities such as the XYZ Revocable Trust.

On April 16, Wong exercised her options and sold the same number of shares that day, raising about $6.3 million (around KRW 9 billion). She continues to hold over 1 million shares directly and, including trusts, maintains a stake valued at roughly KRW 250 billion.

In its Q1 2026 results announced on April 30, Reddit reported revenue of approximately $663 million and earnings per share of $1.07, marking significant year-over-year growth. The company attributed its performance to the expansion of AI-driven advertising and data licensing revenues.

Meanwhile, recent U.S. investment research has flagged securities-related investigations and legal reviews into Reddit, suggesting these developments could add further uncertainty to RDDT’s already volatile share price.

Founded in 2005, Reddit is a U.S.-based online community platform that went public on the New York Stock Exchange in March 2024 under the ticker RDDT. Co-founder Steve Huffman serves as CEO and director, while Jennifer L. Wong is COO, with both leading Reddit’s global community and advertising businesses.