[144] Factset Research Systems SEC Filing

Rhea-AI Filing Summary

Nasdaq Stock Market LLC has filed a Form 25 with the U.S. Securities and Exchange Commission to remove Redfin Corporation’s (symbol: RDFN) common stock from listing and registration under Section 12(b) of the Securities Exchange Act of 1934. The filing—signed by Nasdaq AVP Tara Petta on 1 July 2025—certifies that the exchange has reasonable grounds for the submission and has complied with the relevant rules (17 CFR 240.12d2-2(b) and, if applicable, 12d2-2(c)). No financial performance data, earnings metrics, or explanatory narrative is included. The document simply initiates the formal delisting and/or deregistration process for Redfin’s common shares.

Positive

• None.

Negative

• Nasdaq has initiated the removal of Redfin’s common stock from listing and registration via Form 25, signalling an impending delisting.
• The filing provides no explanation or alternative listing plan, increasing uncertainty around future liquidity and governance transparency.

Insights

Equity Market Analyst

TL;DR – Nasdaq’s Form 25 indicates Redfin’s common stock is being delisted/deregistered, a materially negative liquidity event for shareholders.

The filing triggers the SEC process that will terminate Redfin’s Section 12(b) registration and remove its listing on Nasdaq. Delisting typically lowers trading liquidity, can restrict institutional ownership, and may shift the shares to over-the-counter markets unless the company relists elsewhere. Because no accompanying explanation or alternative listing venue is disclosed, the event is presently negative from a market-access standpoint. Investors should monitor subsequent filings (e.g., Form 15, 8-K) for clarification on Redfin’s strategic intent and the effective delisting date.

Corporate Governance Specialist

TL;DR – Filing shows compliance with SEC Rule 12d2-2; absence of context leaves stakeholders with open governance questions.

Nasdaq affirms procedural compliance, but the document offers no insight into whether the withdrawal is voluntary or imposed (e.g., listing-standards deficiency). Lack of disclosure on board resolutions, shareholder communications, or transition plans raises governance transparency issues. Until the issuer supplies additional information, the market must treat the action as a potential risk factor concerning corporate reporting obligations and investor protections.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Fidelity Brokerage Services LLC 245 Summer Street Boston MA 02110	3000	1335360.00	37947057	07/01/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	07/01/2025	Stock Options Exercise	FACTSET RESEARCH SYSTEMS INC			3000	07/01/2025	Wire

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Frederick Philip Snow c/o FACTSET RESEARCHSYSTEMS INC 45 Glover Avenue Norwalk CT 06850	Common Stock	04/01/2025	3000	1364580.00
Frederick Philip Snow c/o FACTSET RESEARCHSYSTEMS INC 45 Glover Avenue Norwalk CT 06850	Common Stock	05/01/2025	3000	1293270.00
Frederick Philip Snow /o FACTSET RESEARCHSYSTEMS INC 45 Glover Avenue Norwalk CT 06850	Common Stock	06/02/2025	3000	1363740.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did Nasdaq file for Redfin (RDFN)?

Nasdaq filed Form 25 to remove Redfin’s common stock from listing and registration under Section 12(b).

When was the Form 25 for RDFN signed?

The document was signed on July 1, 2025 by Nasdaq AVP Tara Petta.

Which class of securities is affected by the filing?

The filing pertains to Redfin Corporation’s common stock.

Does the filing explain why Redfin is being delisted?

No. The Form 25 contains no narrative explanation for the delisting or deregistration.

Is this a voluntary withdrawal by Redfin?

The filing references both Exchange and issuer rule compliance but does not explicitly state whether the withdrawal is voluntary or involuntary.

What address is listed for Redfin’s principal executive offices?

Redfin’s address is 1099 Stewart Street, Suite 600, Seattle, WA 98101 (phone: 206-435-7233).