SNAP · Snap Inc.

The departure of CFO Derek Andersen, effective May 8, 2026, represents a key leadership transition at Snap Inc., with the company promptly naming internal candidate Doug Hott as successor. Andersen's exit is explicitly stated as unrelated to any disputes over financial reporting, strategy, or operations, reducing concerns over internal conflicts. Hott brings substantial tenure, having served in senior finance roles since 2019, including his current position overseeing finance, strategy, and corporate development since July 2024. This internal promotion signals continuity in financial leadership. Absence of family ties or material related transactions with Hott aligns with governance best practices. Investors should monitor the forthcoming amendment for compensation details, as Item 5.02(c)(3) remains pending, which could provide insight into retention incentives and succession costs.