LifeStance (LFST) Files Form 144 for 894,098-Share Sale via Morgan Stanley

Rhea-AI Filing Summary

LifeStance Health Group, Inc. (LFST) filed a Form 144 notifying a proposed sale of 894,098 shares of Common Stock through Morgan Stanley & Co. LLC, with an aggregate market value of $4,837,070.18. The filing lists the approximate date of sale as 08/18/2025 and the securities exchange as NASDAQ.

The shares were acquired pre-IPO on 06/10/2021 from the issuer, with 5,130,460 shares originally acquired on that date. The filer reports no securities sold in the past three months and includes the required certification that no undisclosed material adverse information is known.

Positive

• Brokered sale disclosed: Sale will be executed through Morgan Stanley & Co. LLC, providing a clear execution channel.
• No recent sales: The filer reports "Nothing to Report" for securities sold during the past three months, indicating no near-term prior disposals.
• Acquisition details provided: The filing specifies the pre-IPO acquisition date (06/10/2021) and number of shares acquired (5,130,460), supporting transparency.

Negative

• Insider sale announced: Proposed sale of 894,098 shares with aggregate value of $4,837,070.18, which may be viewed negatively by some investors.
• Reduction of pre-IPO holdings: The filer originally acquired 5,130,460 shares pre-IPO and is selling a portion of that holding.

Insights

Securities Analyst

TL;DR Routine insider notice of a planned sale via a broker; not a mandatory disclosure of adverse events.

The filing documents a proposed Rule 144 sale of 894,098 shares executed through Morgan Stanley & Co. LLC with a stated market value of $4.84 million and a projected sale date of 08/18/2025. The shares originated from a pre-IPO acquisition on 06/10/2021 totaling 5,130,460 shares. The notice states no sales in the past three months, consistent with standard Rule 144 timing and reporting. For investors, this is a disclosure of insider selling activity rather than operational or financial performance information.

Compliance / Corporate Governance Expert

TL;DR Filing appears to follow Rule 144 disclosure requirements; includes broker and acquisition details and the required signer representation.

The form identifies the broker (Morgan Stanley & Co. LLC), the class of security, the number of shares to be sold, aggregate market value, and the date of acquisition (pre-IPO on 06/10/2021). It also confirms there were no sales in the prior three months and contains the seller's certification about material information. These elements align with routine compliance expectations for a Rule 144 notice. The filing does not include any additional operational or material governance disclosures.

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	Morgan Stanley & Co. LLC 1585 Broadway New York NY 10036	894098	4837070.18	388936394	08/18/2025	NASDAQ

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	06/10/2021	Pre-IPO Transactions	Issuer			5130460	06/10/2021	Equity interests in the Issuer were purchased pre-IPO

* 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 LifeStance Health Group (LFST) report in this Form 144?

The filer notifies a proposed Rule 144 sale of 894,098 common shares through Morgan Stanley & Co. LLC, with aggregate market value $4,837,070.18, and an approximate sale date of 08/18/2025.

When were the shares being sold originally acquired?

The filing states the shares were acquired on 06/10/2021 in pre-IPO transactions from the issuer, totaling 5,130,460 shares acquired on that date.

Has the filer sold any LFST securities in the past three months?

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

Through which broker will the LFST shares be sold?

The sale is to be handled by Morgan Stanley & Co. LLC, located at 1585 Broadway, New York, NY, as listed in the filing.

What exchange will the proposed LFST sale occur on?

The filing lists the NASDAQ as the securities exchange for the proposed sale.