FER files Form 144 to sell 3.4M shares via Goldman Sachs

Rhea-AI Filing Summary

Ferrovial SE filed a Form 144 to notify a proposed sale of 3,400,353 ordinary shares through Goldman Sachs & Co. LLC with an aggregate market value of $190,555,782.12. The shares represent part of total outstanding common shares of 733,755,372. The proposed approximate date of sale is 09/08/2025 on NASD.

The filer indicates the shares were acquired on 06/16/2023 as consideration in a merger or acquisition from the issuer and that payment was in securities. The filing states there were no sales in the past three months to report and includes the standard representation that the seller is not aware of undisclosed material adverse information.

Positive

• Transparent compliance with Rule 144 requirements including broker, quantity, value, and acquisition details
• Use of a major broker (Goldman Sachs & Co. LLC) provides orderly execution channel for the proposed sale

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine Rule 144 notice for about 3.4M shares; appears procedural and unlikely to be market-moving by itself.

The Form 144 discloses a planned sale of 3,400,353 ordinary shares valued at $190,555,782.12, executed through Goldman Sachs & Co. LLC with an approximate sale date of 09/08/2025. The shares were acquired 06/16/2023 as merger consideration from the issuer and no sales in the prior three months are reported. Relative to 733,755,372 shares outstanding, the block is a small fraction of the float. The filing is a compliance disclosure under Rule 144 rather than an earnings or operational event.

Corporate Governance Expert

TL;DR: Disclosure reflects compliance with resale rules after a corporate transaction; signature representation included.

The notice documents required details: acquisition date, nature of acquisition (merger consideration), broker name, and a seller representation about material information. The statement about lacking undisclosed material adverse information and the signature warning are standard. There is no disclosure here of any change in corporate control, insider trading plan, or additional governance actions.

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
Ordinary Shares	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	3400353	190555782.12	733755372	09/08/2025	NASD

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 *
Ordinary Shares	06/16/2023	Acquired as consideration of merger or acquisition	The Issuer			3400353	06/16/2023	Securities

* 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

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

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 does Ferrovial SE's Form 144 disclose about the proposed sale?

The filing discloses a proposed sale of 3,400,353 ordinary shares via Goldman Sachs & Co. LLC with aggregate market value $190,555,782.12, approximate sale date 09/08/2025 on NASD.

When were the shares being sold acquired by the filer?

The shares were acquired on 06/16/2023 as consideration in a merger or acquisition from the issuer.

How large is the proposed sale relative to Ferrovial's outstanding shares?

The filing lists 733,755,372 shares outstanding; the proposed sale of 3,400,353 shares represents a small fraction of that total.

Did the filer report any securities sold in the past three months?

The Form 144 states Nothing to Report for securities sold during the past three months.

What representation did the seller make in the filing?

The signer represents they do not know of any material adverse information about the issuer that has not been publicly disclosed.