[Form 4] RB GLOBAL INC. Insider Trading Activity

Rhea-AI Filing Summary

Sarah E. Raiss, a director of RB Global, Inc. (RBA), reported acquisition of dividend equivalent rights linked to deferred share units and restricted share units. On 09/18/2025 the filing shows the reporting person received 52 dividend equivalent rights related to deferred share units and 5 dividend equivalent rights related to a 2025 restricted share unit grant. Each dividend equivalent right represents a contingent entitlement to the economic equivalent of one RBA common share and becomes exercisable and payable with the underlying units. After these accruals the report lists 1,904 common shares beneficially owned associated with the deferred share units and 10 common shares beneficially owned associated with the 2025 RSUs. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 09/19/2025.

Positive

• Timely Section 16 filing signed by attorney-in-fact on 09/19/2025, demonstrating compliance
• Clear disclosure that dividend equivalent rights are tied to deferred share units and 2025 RSU grant

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director accrued dividend equivalent rights tied to existing deferred and restricted share units, modestly increasing contingent share exposure.

The Form 4 discloses non-cash accruals: 52 dividend equivalent rights from deferred share units and 5 from a 2025 RSU grant, each convertible to the economic equivalent of one common share upon vesting/payment. These items do not reflect open-market purchases or dispositions of shares but record the accumulation of contingent rights that will convert alongside the underlying equity awards. The report clarifies ownership form as direct for the related common-share equivalents and is signed by an authorized attorney-in-fact, indicating procedural compliance with Section 16 reporting.

Securities Analyst

TL;DR: Non-derivative accruals reported; impact on outstanding float is indirect and limited to contingent share equivalents.

The filings show accruals of dividend equivalent rights (A codes) rather than cash transactions or exercises. Reported beneficially owned amounts tied to these units are 1,904 and 10 common-share equivalents respectively. From an investor-impact standpoint these rights represent potential future issuance or settlement obligations but, as reported, are contingent and synchronized with the underlying instruments.

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^*

RAISS SARAH E.

(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)

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

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 (DSUs)	(1)	09/18/2025		A		52		(1)	(1)	Common Shares	52	$0	1,904	D
Dividend Equivalent Rights (2025 RSUs)	(2)	09/18/2025		A		5		(2)	(2)	Common Shares	5	$0	10	D

Explanation of Responses:

1. The dividend equivalent rights accrued in respect of the reporting person's deferred share units, and become exercisable and payable concurrently with the deferred share units. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one RBA common share.

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 Sarah E. Raiss	09/19/2025
	** 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 Sarah E. Raiss report on Form 4 for RBA?

The Form 4 reports accruals of 52 dividend equivalent rights related to deferred share units and 5 dividend equivalent rights related to 2025 RSUs, filed 09/19/2025.

Do the reported transactions involve open-market purchases or sales?

No. The entries are accruals of dividend equivalent rights (non-cash, contingent rights) rather than market purchases or dispositions.

How many common-share equivalents are shown as beneficially owned after the reported accruals?

The filing lists 1,904 common-share equivalents tied to deferred share units and 10 common-share equivalents tied to the 2025 RSUs.

What is the economic meaning of a dividend equivalent right in this filing?

Each dividend equivalent right represents a contingent right to receive the economic equivalent of one RBA common share upon exercise/settlement of the underlying unit.

Who signed the Form 4 on behalf of the reporting person?

The Form 4 was signed by Maria Teresa Punsalan, attorney-in-fact for Sarah E. Raiss on 09/19/2025.