March 25, 2024 · Form 4 insider transaction
Tencent Holdings Ltd bought 3,200,000 shares of Reddit, Inc., a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 2 days after the transaction.
Upon conversion of 3,200,000 of the 7,984,891 shares of the Series D Preferred Stock that automatically converted into shares of Class B Common Stock on a one-for-one basis at the closing of the Issuer's initial public offering and had no expiration date, pursuant to the terms of a certain capital stock conversion election, the resulting 3,200,000 shares of the Class B Common Stock were voluntarily converted into Class A Common Stock on a one-for-one basis and had no expiration date.; Held of record by Tencent Cloud Europe B.V., a wholly-owned subsidiary of Tencent Holdings Limited ("Tencent").