Robinhood CEO Vlad Tenev Sells Class A Stock to Zero for Sixth Time in 2026

Sixth sell-out to zero in under a year

Robinhood CEO Vladimir Tenev has again sold all of his directly held Class A shares, bringing that position to zero for the sixth time in 2026. The transaction was dated October 5 and filed with the U.S. Securities and Exchange Commission (SEC) on October 7. He sold 375,000 shares at approximately $113.72 each, generating roughly $42.6 million.

The headline of "zero" Class A shares has drawn attention on social media, with one post framing it as a founder pulling out of a company valued at about $96 billion. Community contributors, however, pointed out that this same zero result had already occurred five times earlier in the year.

Key numbers from the year

• 375,000 shares sold for roughly $42.6 million on October 5
• Sixth time Tenev's directly held Class A stock reached zero in 2026
• Across 2026, approximately 2 million Class B shares were converted and sold for roughly $220 million, about 4% of his Class B stake
• Remaining holdings: 47,419,572 Class B shares and 6,907 Class A shares held in a living trust
• Combined stake valued at approximately $5.2 billion at the October 9 close near $109 per share

How the Class B to Class A conversion works

The SEC filing explains that Tenev actually sold 375,000 Class B shares. Robinhood's share structure causes those Class B shares to automatically convert into Class A shares at the moment they are sold. Each Class B share carries 10 votes, while each Class A share carries one vote.

All of these sales were executed under a Rule 10b5-1 trading plan, a pre-set schedule that insiders use to buy or sell shares. Tenev adopted his plan on September 5, 2025.

Control stays intact despite the sell-offs

While the zero Class A figure looks dramatic, Tenev's actual influence has barely changed. His 47 million-plus Class B shares carry more than 474 million votes. According to Robinhood's annual filing, founders and founder affiliates hold 100% of the outstanding Class B super-voting stock, giving Tenev and co-founder Baiju Bhatt control of more than half of the company's total voting power.

The cumulative sales removed roughly 20 million votes from his directly held holdings, but the founders' majority control remains unchanged.

Source

• Protos

Read also: Robinhood Reports $15 Billion in Stock Token Trading as Its Blockchain Passes 100 Days