Robinhood Markets, Inc. appointed Dara Bazzano as its principal accounting officer effective June 25, 2026. The Board of Directors confirmed the appointment, which separates the principal accounting officer role from the chief financial officer position. Shiv Verma, the company's Chief Financial Officer, ceased to serve as principal accounting officer but continues in his role as CFO and principal financial officer.

Bazzano, age 58, has served as the company's Chief Accounting Officer since April 2026. Her responsibilities include accounting, tax, financial operations, financial reporting, and internal control functions. Prior to joining Robinhood, she was the California Market leader for Cross Country Consulting from June 2025 through April 2026. She previously held senior accounting roles at T-Mobile US, Inc. from 2020 to 2025 and CBRE Group, Inc. from 2018 to 2020. Earlier in her career, she served as Global Controller and Chief Accounting Officer at The Gap, Inc. from 2013 to 2018 and was an Assurance Partner at PricewaterhouseCoopers and KPMG LLP.

There are no arrangements or understandings between Bazzano and any other persons regarding her selection, and she has no family relationships with any directors or executive officers. Her compensation package remains unchanged following her appointment as principal accounting officer.

Compensation Details

Bazzano's current compensation structure includes an annual base salary of $425,000 and a target annual bonus equal to 40% of her base salary. Her annual equity target is set at $1,540,000. In addition, she received an award of restricted stock units with a grant date target value of approximately $3,300,000, vesting quarterly over two years. She also received a sign-on bonus of $400,000, payable in two equal installments.

Robinhood Markets Inc. has closed a $2.2 billion private offering of 0.00% convertible senior notes due 2029 to enhance strategic flexibility and fund growth initiatives. The offering, which closed on June 25, 2026, included the full exercise of the initial purchasers' option to purchase an additional $200 million aggregate principal amount. The notes were offered to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933.

Robinhood estimates net proceeds of approximately $2.169 billion. The company used approximately $290 million of the net proceeds to repurchase 2.743 million shares of its Class A common stock. Additionally, $123.2 million funded the costs of capped call transactions intended to reduce potential dilution. The remaining proceeds will be allocated for general corporate purposes, including organic growth investments, potential acquisitions, and capital expenditures.

The initial conversion rate is set at 5.7332 shares of Class A common stock per $1,000 principal amount, equivalent to an initial conversion price of approximately $174.42 per share. This price represents a 65.0% premium over the last reported sale price on June 22, 2026. The capped call transactions are expected to reduce dilution up to a cap price of approximately $237.85 per share, representing a 125% premium over the last reported sale price.

Robinhood may not redeem the notes prior to July 1, 2028, except for a cleanup redemption if the outstanding principal is less than $100 million. On or after July 1, 2028, redemption is permitted if the stock price exceeds 120% of the conversion price for specified trading days. The company plans to continue share repurchases under its existing program following the offering.