Robinhood Markets management check
HOOD · Financials · Investment Banking & Brokerage · CEO Vladimir Tenev
Filings as of
5 good · 2 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $325, against $117 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.97 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.2% of net income$3.0m of reported pay in fiscal 2025, against $1.9bn of net income.
- Good
Do they own the stock?
Insiders are buyingThe CEO holds 375,000 shares, directly or through trusts (unvested awards not counted): about 14 years of pay. 1 insider bought $55.3m on the open market in the last six months, with their own money, near the lows. Sales: $191.0m.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +1.6% a year over the last three fiscal years. Stock-based pay was 6.8% of revenue in the latest year.
- Good
Is leadership stable?
8 leadership filings in 3 yearsCEO in the pay table: Mr. Tenev. 8 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Watch
Are the books clean?
An annual report was amendedNo restatements, auditor changes or late filings since 2022. 1 amended annual report.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 100 | 49 | |
| Pay for performance | 99 | 83 | |
| CEO cost | 100 | 67 | |
| Skin in the game | 100 | 51 | |
| Dilution | 31 | 69 | |
| Stable leadership | 85 | 80 | |
| Clean books | 70 | 100 |
Closest peers
Others in Investment Banking & Brokerage, by management score. Robinhood Markets is 8th of 72 in its sector.
Pay versus performance
From the proxy statement filed April 22, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Tenev | $3.0m | $1.0bn | $10.8m | $325 | $117 | $1.9bn |
| 2024 | — | $2.1m | $91.9m | $10.5m | $107 | $117 | $1.4bn |
| 2023 | — | $2.4m | −$6.7m | $6.4m | $37 | $87 | −$541.0m |
| 2022 | — | $1.3m | −$40.0m | $10.5m | $23 | $66 | −$1.0bn |
| 2021 | — | $796.1m | $175.2m | $139.1m | $51 | $97 | −$3.7bn |
The board says pay is tied most to Adjusted EBITDA. Its other key measures: •Stock Price, •Adjusted EBITDA, •Total Net Revenues.
Insiders and the CEO's stake
Vladimir Tenev (Chief Executive Officer) held 375,000 shares directly after their latest Form 4 on Oct 5, 2026, roughly $43.1m at that filing's price.
1 insider bought $55.3m on the open market in the last six months, with their own money, near the lows. Sales: $191.0m.
- BoughtMeyer MalkaDirector$55.3mJun 5, 2026
- SoldVladimir TenevChief Executive Officer · 10b5-1 plan$148.9mOct 5, 2026
- SoldBaiju BhattDirector · 10b5-1 plan$24.8mSep 10, 2026
- SoldSteven M. QuirkChief Brokerage Officer · 10b5-1 plan$6.2mSep 3, 2026
Leadership and governance on file
- Jun 26, 2026Leadership change8-K 5.02
- May 8, 2026Leadership change8-K 5.02
- Mar 24, 2026Leadership change8-K/A 5.02
- Feb 20, 2026Annual report amended10-K/A
- Feb 10, 2026Leadership change8-K 5.02
- Nov 5, 2025Leadership change8-K 5.02
- Mar 25, 2025Leadership change8-K 5.02
- Dec 18, 2024Leadership change8-K 5.02
- Mar 21, 2024Leadership change8-K 5.02
- Mar 15, 2023Leadership change8-K 5.02
- Feb 8, 2023Leadership change8-K 5.02
- Aug 2, 2022Leadership change8-K 5.02
Latest shareholder vote results: Jun 3, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $1.5bn returned to owners in buybacks and dividends, and $3.7bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.8bn | $1.4bn | $1.9bn | $3.0bn | $4.5bn |
| Net income | −$3.7bn | −$1.0bn | −$541.0m | $1.4bn | $1.9bn |
| Stock-based pay | $1.6bn | $654.0m | $871.0m | $304.0m | $305.0m |
| Buybacks | $0 | $0 | $608.0m | $257.0m | $653.0m |
| Dividends | — | — | — | — | — |
| Diluted shares | 492m | 879m | 891m | 906m | 919m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.