SoFi CEO Noto enters prepaid variable forward on 2M shares, receives $22.5M

SoFi Technologies, Inc.

CEO Anthony Noto entered a prepaid variable forward contract on 2,000,000 shares, receiving $22,463,200 upfront.
Contract matures February 7, 2028; settlement in shares or cash based on stock price relative to floor $13.06 and cap $30.74.
Noto retains voting and dividend rights on pledged shares; has not sold any SoFi stock since joining in 2018.
The 2M shares represent ~10% of Noto's beneficial ownership and less than 1% of total shares outstanding.

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