[SCHEDULE 13G/A] Lightspeed Commerce Inc. SEC Filing

Rhea-AI Filing Summary

Schedule 13G/A disclosures show that Dax Dasilva and DHIDasilva Holdings Inc. together report beneficial ownership of 14,578,172 Subordinate Voting Shares, representing 10.6% of the subordinate voting share class. The filing states that the aggregate holding includes 13,975,344 shares directly owned and additional shares that may be acquired within 60 days through equity awards.

The filing breaks those near-term acquisition rights into 554,215 shares from exercisable stock options, 23,788 from restricted share units and 24,825 from deferred share units. The statement also records sole voting and sole dispositive power over the reported shares and notes that Dax Dasilva owns all equity interests in DHIDasilva Holdings Inc.

Positive

• Transparent disclosure of an aggregate beneficial position of 14,578,172 Subordinate Voting Shares, representing 10.6% of the class
• Clear statement that the reporting persons hold sole voting and sole dispositive power over the reported shares

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Founder retains a clear, disclosed >10% economic and voting interest with sole control over those shares.

The Schedule 13G/A explicitly reports an aggregate beneficial position of 14,578,172 Subordinate Voting Shares, equal to 10.6% of the class, and states sole voting and dispositive power for the reporting persons. That clarity on ownership, exerciseable options and settlement of units reduces ambiguity about control and potential near-term share issuance from awards. The filing also identifies the ownership link between the individual and the holding company, which is relevant for governance mapping and disclosure of related-party control.

Securities Analyst

TL;DR: This is a material ownership disclosure but contains no operational or financial performance information.

The report quantifies beneficial ownership components: 13,975,344 directly owned shares plus 602,828 aggregate shares potentially issuable within 60 days via options, RSUs and deferred units, totaling the disclosed 14,578,172 position. For investors, the filing signals a meaningful concentrated position (>5%) and confirms voting and dispositive authority, but it does not provide any new revenue, earnings or transaction details.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Lightspeed Commerce Inc.

(Name of Issuer)

SUBORDINATE VOTING SHARES

(Title of Class of Securities)

53229C107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 53229C107

1

Names of Reporting Persons

Dasilva Dax

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

QUEBEC, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 14,578,172.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 14,578,172.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,578,172.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.6 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: With respect to (5), (7) and (9): Consists of 13,975,344 Subordinate Voting Shares beneficially owned by Dax Dasilva, 554,215 Subordinate Voting Shares which Dax Dasilva has the right to acquire within 60 days after June 30, 2025 upon the exercise of stock options, 23,788 Subordinate Voting Shares which Dax Dasilva has the right to acquire within 60 days after June 30, 2025 upon the settlement of restricted share units and 24,825 Subordinate Voting Shares which Dax Dasilva has the right to acquire within 60 days after June 30, 2025 upon the settlement of deferred share units. With respect to (11): Based on 137,751,948 Subordinate Voting Shares outstanding as of June 30, 2025 and the aggregate number of Subordinate Voting Shares that Dax Dasilva may acquire within 60 days of June 30, 2025 through the settlement of restricted share units and deferred share units into Subordinate Voting Shares or the exercise of stock options exercisable into Subordinate Voting Shares.

SCHEDULE 13G

CUSIP No. 53229C107

1

Names of Reporting Persons

DHIDasilva Holdings Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

QUEBEC, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 14,578,172.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 14,578,172.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,578,172.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.6 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Dax Dasilva owns all equity interests in DHIDasilva Holdings Inc. With respect to (11): Based on 137,751,948 Subordinate Voting Shares outstanding as of June 30, 2025 and the aggregate number of Subordinate Voting Shares that Dax Dasilva may acquire within 60 days of June 30, 2025 through the settlement of restricted share units and deferred share units into Subordinate Voting Shares or the exercise of stock options exercisable into Subordinate Voting Shares.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Lightspeed Commerce Inc.
(b)	Address of issuer's principal executive offices: 700 SAINT-ANTOINE STREET EAST, SUITE 300, MONTREAL, , H2Y 1A6.
Item 2.
(a)	Name of person filing: Dax Dasilva DHIDasilva Holdings Inc.
(b)	Address or principal business office or, if none, residence: 700 Saint-Antoine Street East, Suite 300 Montreal, Quebec, Canada H2Y 1A6
(c)	Citizenship: Canada
(d)	Title of class of securities: SUBORDINATE VOTING SHARES
(e)	CUSIP No.: 53229C107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of each cover page.
(b)	Percent of class: See Item 11 of each cover page
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of each cover page.
	(ii) Shared power to vote or to direct the vote: See Item 6 of each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of each cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dasilva Dax

Signature:	/s/ Dax Dasilva
Name/Title:	Dax Dasilva, Individually
Date:	08/11/2025

DHIDasilva Holdings Inc.

Signature:	Dax Dasilva
Name/Title:	President and Secretary
Date:	08/11/2025

Exhibit Information

Exhibit 1 Joint Filing Agreement by and among Dax Dasilva and DHIDasilva Holdings Inc.

FAQ

How many Subordinate Voting Shares does Dax Dasilva beneficially own in LSPD?

14,578,172 Subordinate Voting Shares are reported as beneficially owned by Dax Dasilva and DHIDasilva Holdings Inc.

What percentage of LSPD's subordinate voting shares does that represent?

10.6% of the subordinate voting share class is reported as beneficially owned.

How is the 14,578,172 total composed?

13,975,344 directly owned shares plus 554,215 exercisable options, 23,788 restricted share units and 24,825 deferred share units that may be acquired within 60 days.

Does Dax Dasilva have voting control over these shares?

Yes. The filing reports sole voting power and sole dispositive power for the reported shares.

Did a holding company file alongside Dax Dasilva?

Yes. DHIDasilva Holdings Inc. is listed as a reporting person and the filing states Dax Dasilva owns all equity interests in that holding company.

Does the filing disclose any transactions or financial results?

No. The filing is an ownership disclosure and does not include operational, transaction or earnings data.