[Form 4] RB GLOBAL INC. Insider Trading Activity

Rhea-AI Filing Summary

Michael Thomas Steven Lewis, Chief Operations Officer of RB Global, Inc. (RBA), reported acquisitions on 09/18/2025 of dividend equivalent rights tied to restricted share unit (RSU) grants. Nineteen dividend equivalent rights accrued for the 2024 RSU grant and eleven dividend equivalent rights accrued for the 2025 RSU grant; each right represents a contingent entitlement to the economic equivalent of one RBA common share and vests proportionately with the underlying RSUs. Following these reported transactions the filing shows 84 and 23 dividend-equivalent positions, respectively, held in a direct ownership form. The transactions were signed by an attorney-in-fact on 09/22/2025.

Positive

• Equity alignment: Dividend equivalent rights tie executive economic interests to common shares via RSU vesting.
• Routine, compliant disclosure: Form 4 reports the transactions and includes an attorney-in-fact signature, indicating procedural compliance.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine equity-based compensation accruals, modest share-equivalent increases for a company officer.

The Form 4 discloses non-cash accruals of dividend equivalent rights tied to RSUs rather than open-market purchases or sales. These entries increase the reporting officer's economic exposure to the issuer through award accruals of 19 and 11 share equivalents, bringing reported direct holdings to 84 and 23 in the respective award series. For investors, this is a routine compensation disclosure without cash proceeds or disposition events; it signals continued alignment of the officer with shareholder outcomes through RSU-linked entitlements.

Corporate Governance Expert

TL;DR: Compliance filing documents executive compensation-related accruals; standard disclosure under Section 16.

The disclosure is consistent with required Section 16 reporting for officers receiving equity-linked awards. It details dividend equivalent rights that vest with the underlying RSUs and confirms direct beneficial ownership form. The filing includes an attorney-in-fact signature, indicating proper execution. There are no indications of option exercises, sales, or other governance concerns in this filing.

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

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^*

LEWIS MICHAEL THOMAS STEVEN

(Last) (First) (Middle)

C/O RB GLOBAL, INC.

2 WESTBROOK CORPORATE CENTER

(Street)

WESTCHESTER IL 60154

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RB GLOBAL INC. [ RBA ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

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

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
Dividend Equivalent Rights (2024 RSUs)	(1)	09/18/2025		A		19		(1)	(1)	Common Shares	19	$0	84	D
Dividend Equivalent Rights (2025 RSUs)	(2)	09/18/2025		A		11		(2)	(2)	Common Shares	11	$0	23	D

Explanation of Responses:

1. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one RBA common share. The dividend equivalent rights accrued in respect of the 2024 grant of restricted share units (RSU), and become exercisable proportionately with the restricted share units to which they relate.

2. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one RBA common share. The dividend equivalent rights accrued in respect of the 2025 grant of restricted share units (RSU), and become exercisable proportionately with the restricted share units to which they relate.

	/s/ Maria Teresa Punsalan, attorney-in-fact for Michael Thomas Steven Lewis	09/22/2025
	** 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 RB Global (RBA) officer Michael Thomas Steven Lewis report on Form 4?

He reported acquisitions on 09/18/2025 of dividend equivalent rights tied to RSUs: 19 for the 2024 grant and 11 for the 2025 grant.

What are the dividend equivalent rights disclosed in the Form 4?

Each dividend equivalent right represents a contingent entitlement to the economic equivalent of one RBA common share and vests proportionately with the underlying RSUs.

How many dividend-equivalent positions does the filing show after the transactions?

The filing shows 84 and 23 dividend-equivalent positions, respectively, held in direct form following the reported transactions.

Did the Form 4 report any cash purchases, sales, or option exercises?

No. The filing reports only accruals of dividend equivalent rights related to RSU grants; there are no cash purchases, sales, or option exercises disclosed.

Who signed the Form 4 for the reporting person and when?

The Form 4 was signed by Maria Teresa Punsalan, attorney-in-fact, for Michael Thomas Steven Lewis on 09/22/2025.