[144] Lightspeed Commerce Inc. SEC Filing

Rhea-AI Filing Summary

Lightspeed Commerce Inc. (LSPD) filed a Form 144 reporting an insider sale tied to RSU vesting. The filer plans to sell 2,611 Subordinate Voting Shares with an aggregate market value of $30,902.75 on 09/15/2025 on the NYSE. The shares were acquired by RSU vesting on 09/15/2025 and payment/consideration is listed as vesting proceeds. The filing also discloses prior sales by John Shapiro of 2,121 shares on 09/08/2025 for $25,375.86 and 848 shares on 08/25/2025 for $10,232.05. The notice includes the standard attestation that the seller lacks undisclosed material information.

Positive

• Required Rule 144 information is provided, including acquisition date, nature of acquisition (RSU vest), sale date, broker, and market values
• Prior insider sales are disclosed, giving transparency on recent insider liquidity

Negative

• Insider sales occurred recently (2,121 shares on 09/08/2025 and 848 shares on 08/25/2025), which may concern some investors seeking insider accumulation
• Filing lacks context on total insider holdings or percentage ownership, so materiality relative to outstanding shares cannot be assessed from this document alone

Insights

Securities Analyst

TL;DR: Routine Form 144 reporting insider RSU vesting and scheduled sale; amounts disclosed are modest.

The filing documents a planned sale of 2,611 subordinate voting shares arising from RSU vesting on the filing date and lists recent small-volume sales by an insider, John Shapiro. This is a compliance disclosure under Rule 144 rather than an operational or financial update. The reported aggregate market values and gross proceeds are explicit and allow investors to track insider liquidity events, but the filing does not provide context on total insider holdings or proportionate ownership.

Corporate Governance Expert

TL;DR: Governance disclosure appears complete for Rule 144 purposes; the attestation is included.

The form includes required details: acquisition date (09/15/2025), nature of acquisition (RSU vest), sale date (09/15/2025), broker information, and prior sales in the past three months. The standard representation regarding material nonpublic information is present. The filing contains no indication of unusual trading arrangements or 10b5-1 plan adoption dates.

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
Subordinate Voting Shares	Solium Capital 600 3rd Avenue SW Calgary A0 T2P 0G5	2611	30902.75	135244003	09/15/2025	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 *
Subordinate Voting Shares	09/15/2025	RSU Vest	Issuer			2611	09/15/2025	RSU Vest

* 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
John Shapiro 700 Saint-Antoine Street East Suite 300 Montreal A8 H2Y 1A6	Subordinate Voting Shares	09/08/2025	2121	25375.86
John Shapiro 700 Saint-Antoine Street East Suite 300 Montreal A8 H2Y 1A6	Subordinate Voting Shares	08/25/2025	848	10232.05

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 does Lightspeed's (LSPD) Form 144 filed on 09/15/2025 report?

The Form 144 reports a proposed sale of 2,611 Subordinate Voting Shares from RSU vesting with an aggregate market value of $30,902.75, to be sold on 09/15/2025 on the NYSE.

Who previously sold Lightspeed shares in the past three months according to the filing?

The filing lists John Shapiro selling 2,121 shares on 09/08/2025 for $25,375.86 and 848 shares on 08/25/2025 for $10,232.05.

Was the acquisition that triggered the sale an RSU vesting event?

Yes. The securities to be sold were acquired via RSU vest on 09/15/2025, and the nature of payment is listed as the RSU vesting proceeds.

Does the Form 144 include an attestation about material nonpublic information?

Yes. The filer signs the notice to represent they do not know any material adverse information about the issuer that has not been publicly disclosed.

On which exchange are the shares proposed to be sold?

The proposed sale is listed for the NYSE.