[144] First Trust RiverFront Dynamic Developed International ETF SEC Filing

Rhea-AI Filing Summary

The filing is a Form 144 notice indicating the proposed sale of restricted securities in First Trust RiverFront Dynamic Developed International ETF (RFDI). One holder plans to sell 8,000 common shares through broker BTIG LLC on or about 01 July 2025 on the NYSE. At the most recent market price, the transaction is valued at $207,261.60. The shares represent roughly 1.0 % of the 800,002 shares outstanding listed in the notice.

The seller originally acquired a larger block of 100,000 shares on 13 May 2022 via a negotiated private transaction paid in cash. No sales have been made by the filer in the past three months, and the filer affirms no undisclosed material adverse information about the ETF.

Because Form 144 filings are preliminary, the sale may or may not occur, and it is relatively small compared with the ETF’s outstanding units, suggesting limited market impact.

Positive

• None.

Negative

• Insider disposition: Filing indicates intention to sell 8,000 shares, which can be interpreted as a mildly negative sentiment signal, albeit small in scale.

Insights

Financial Analyst

TL;DR Minor insider sale—8,000 RFDI shares (~$207k) filed, only 1 % of float; limited price impact expected.

The Form 144 signals a potential disposition of 8,000 shares, modest relative to the 800,002 units outstanding. Dollar value is immaterial for a listed ETF and signals routine liquidity management rather than strategic divestiture. Absence of recent sales and the required representation that no material non-public information exists further point to low governance concern. I classify the filing as neutral for valuation and liquidity.

Corporate Governance Expert

TL;DR Governance risk low; Form 144 sale appears routine, with standard certifications and no pattern of serial selling.

From a governance lens, the seller complies with Rule 144 disclosure standards, specifying acquisition source, consideration (cash), and lack of adverse undisclosed information. No aggregation issues arise because no related-party sales occurred in the last quarter. Given the small position and transparent timing, I see no red flags for other unit-holders.

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
Common	BTIG LLC 65 E 55th Street New York NY 10022	8000	207261.60	800002	07/01/2025	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	05/13/2022	Negotiated, private transaction	First Trust New York Municipal High Income ETF			100000	05/13/2022	Cash

* 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

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

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

How many RFDI shares are being sold under this Form 144?

The filer proposes to sell 8,000 common shares of RFDI.

What is the estimated market value of the shares to be sold?

The aggregate market value stated is $207,261.60.

When is the approximate sale date for the RFDI shares?

The notice lists an approximate sale date of July 1, 2025.

What percentage of outstanding RFDI shares does the sale represent?

The 8,000 shares represent about 1 % of the 800,002 shares outstanding noted in the filing.

Who is the broker handling the proposed sale?

BTIG LLC, located at 65 E 55th Street, New York, NY 10022.

When and how were the shares originally acquired?

They were acquired on May 13, 2022 via a negotiated private transaction paid in cash.