[Form 4] Shift4 Payments, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Shift4 Payments insider sale reported on Form 4: Chief Executive Officer and director David Taylor Lauber sold 2,500 shares of Class A common stock on 09/03/2025 at $88.59 per share, leaving him with 285,588 shares beneficially owned. The filing states the sale was made under a Rule 10b5-1 trading plan that the reporting person adopted in November 2024. The Form 4 is signed on behalf of Mr. Lauber by an attorney-in-fact on 09/05/2025. The document shows a single non-derivative disposition and provides no other transactions or additional explanatory detail.

Positive

• Transaction executed under a Rule 10b5-1 plan, which reduces timing and selective-trading concerns
• Filing discloses remaining beneficial ownership (285,588 shares) providing transparency

Negative

• Insider disposed of shares (2,500 shares), which is a reduction in beneficial ownership

Insights

Financial Analyst

TL;DR: Small, planned insider sale under a 10b5-1 plan; limited immediate market impact.

The reported sale of 2,500 shares at $88.59 represents approximately 0.9% of the reporting persons post-transaction holdings (285,588 shares). Because the sale was executed under a Rule 10b5-1 trading plan established in November 2024, it indicates pre-scheduled disposition rather than opportunistic trading. The disclosure is concise and limited to a single non-derivative sale; there are no derivative transactions or additional holdings changes disclosed.

Corporate Governance Expert

TL;DR: Governance process followed: sale disclosed and tied to a pre-existing 10b5-1 plan.

The Form 4 shows compliance with Section 16 reporting and cites a 10b5-1 plan, which helps mitigate insider trading timing concerns. The filing is signed by an attorney-in-fact, consistent with standard practice. The report contains no signals of undisclosed related-party transactions or material changes to compensation or control. The single small disposition is routine from a governance perspective.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lauber David Taylor

(Last) (First) (Middle)

3501 CORPORATE PARKWAY

(Street)

CENTER VALLEY PA 18034

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Shift4 Payments, Inc. [ FOUR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/03/2025		S		2,500(1)	D	$88.59	285,588	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents sales pursuant to a Rule 10b5-1 trading plan adopted in November of 2024 by the Reporting Person.

	/s/ Jordan Frankel, Attorney-in-Fact for David Taylor Lauber	09/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Shift4 Payments CEO David Lauber report on Form 4 (FOUR)?

The Form 4 reports a sale of 2,500 Class A shares on 09/03/2025 at $88.59, leaving 285,588 shares beneficially owned.

Was the sale by the CEO of FOUR part of a 10b5-1 trading plan?

Yes. The filing states the sale was made pursuant to a Rule 10b5-1 trading plan adopted in November 2024.

Does the Form 4 show any derivative transactions by the reporting person?

No. Table II for derivative securities contains no reported transactions or holdings.

Who signed the Form 4 for David Taylor Lauber?

The Form 4 is signed by Jordan Frankel, Attorney-in-Fact for David Taylor Lauber on 09/05/2025.

How can I interpret a sale under a 10b5-1 plan?

A sale under a 10b5-1 plan indicates the transaction was pre-scheduled under a written plan, which generally reduces the likelihood the trade was made on the basis of material nonpublic information.