PATH founder files Form 144 for $12.9M stock sale

Rhea-AI Filing Summary

UiPath, Inc. (PATH) filed a Form 144 reporting a proposed sale of 1,000,000 common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of $12,900,000. The filing states these are founders' shares acquired on 04/21/2021 and indicates the sale is expected on or about 10/06/2025 on the NYSE. The filer represents no undisclosed material information and notes prior Rule 10b5-1 program sales totaling multiple transactions in the past three months, including repeated daily lots of 122,733 shares and several blocks of 45,000 shares, producing gross proceeds listed per trade. The notice identifies total shares outstanding as 453,568,899, which frames the proposed sale as a small fraction of the outstanding base.

Positive

• Sale size is modest at 1,000,000 shares (~0.22% of outstanding)
• Seller used Rule 10b5-1 program previously, showing pre-arranged trading activity

Negative

• Founder share sale could marginally increase free float and selling pressure around 10/06/2025

Insights

Securities Compliance Analyst

TL;DR: A founder sale under Rule 144 is planned and prior 10b5-1 sales were executed recently.

The filing records a proposed sale of $12,900,000 worth of common stock (1,000,000 shares) sourced from founders' shares acquired on 04/21/2021. The transaction is routed through Morgan Stanley Smith Barney LLC and scheduled for 10/06/2025, with trades expected on the NYSE.

Compliance-wise, the notice includes the required representation that the seller is unaware of undisclosed material information and documents a history of Rule 10b5-1 sales in the prior three months. Watch for filings confirming execution details and any updates to the 10b5-1 plan timing within the next few trading days.

Equity Capital Structure Analyst

TL;DR: Sale size is modest relative to the share base but will increase circulating float slightly.

The proposed 1,000,000-share sale represents roughly 0.22% of the reported 453,568,899 shares outstanding, so the direct dilution or float increase is small in percentage terms. Prior 10b5-1 sales listed show repeated daily lots of 122,733 shares and blocks of 45,000 shares that have already generated multi-million dollar proceeds.

Investors may monitor short-term volume and any further insider dispositions; near-term impact is likely limited given the small percentage of outstanding shares, but execution timing could influence daily trading volumes around 10/06/2025.

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

Relationship to Issuer

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	1000000	12900000.00	453568899	10/06/2025	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 *
Common	04/21/2021	Founders Shares	Issuer			1000000	04/21/2021	N/A

* 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
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	10/03/2025	122733	1596228.58
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	10/02/2025	122733	1576039.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	10/01/2025	122733	1635539.96
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/30/2025	122733	1817442.54
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/29/2025	122733	1513776.55
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/26/2025	122733	1482798.74
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/25/2025	122733	1474845.64
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/24/2025	122733	1527314.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/23/2025	122733	1590926.51
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/22/2025	122733	1496925.31
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/19/2025	122733	1463357.83
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/18/2025	122733	1463934.68
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/17/2025	122733	1437718.91
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	09/10/2025	45000	540463.50
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/31/2025	9988	119856.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/30/2025	45000	542776.50
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/29/2025	45000	548788.50
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/28/2025	45000	547402.50
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/25/2025	45000	551151.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/24/2025	45000	564768.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/23/2025	45000	565402.50
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/22/2025	45000	561231.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/21/2025	45000	572229.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/18/2025	45000	557154.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/17/2025	45000	560142.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/16/2025	45000	559206.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/15/2025	45000	562612.50
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/14/2025	45000	559593.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/11/2025	45000	572094.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/10/2025	45000	587650.50
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/09/2025	45000	592668.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/08/2025	45000	594513.00
10b5-1 Sales for ICE VULCAN HOLDING LIMITED One Vanderbilt Avenue, 60th Floor New York NY 10017	Common	07/07/2025	45000	590116.50

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 UiPath's (PATH) Form 144 report?

It reports a proposed sale of 1,000,000 common shares valued at $12,900,000, expected on 10/06/2025, through Morgan Stanley Smith Barney LLC on the NYSE.

Are the shares being sold insider or founder shares for PATH?

Yes; the filing lists the securities as founders' shares acquired on 04/21/2021.

How large is the proposed sale versus UiPath's outstanding shares?

The proposed 1,000,000 shares equal about 0.22% of the reported 453,568,899 shares outstanding.

Has there been recent insider selling by this account?

Yes; the filing lists multiple recent Rule 10b5-1 sales in the past three months, including repeated daily lots of 122,733 shares.

Who is the broker handling the sale for PATH?

The broker named is Morgan Stanley Smith Barney LLC, address provided in the filing.