SE Form 144: Insider ADS sale of $286.8M scheduled via Goldman Sachs

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

144

Rhea-AI Filing Summary

Form 144 notice to sell ADS registered on NYSE. The filer proposes to sell 1,604,879 ADS through Goldman Sachs & Co. LLC with an aggregate market value of $286,840,023.67. The filing lists total shares outstanding of 546,492,141 and an approximate sale date of 09/30/2025. The securities were acquired on 12/30/2024 by exercise of vested employee stock options from the issuer and were paid as compensation for service. The filing also reports numerous ADS sales during the past three months by Coast Bridge Investments Limited with multiple trade dates and gross proceeds recorded.

Positive

Securities were acquired via exercise of vested employee stock options, indicating the holder obtained the ADS through standard compensation mechanisms
Broker specified as Goldman Sachs & Co. LLC, showing a recognized market intermediary will handle the sale

Negative

Form text does not identify the issuer name or filer CIK in the provided content, limiting context about the seller's insider status or relationship to the company
Multiple recent ADS sales by Coast Bridge Investments Limited are listed, indicating substantial prior dispositions that may affect available float or signal ongoing selling pressure

Insights

TL;DR: Large proposed insider ADS sale recorded; securities were acquired via exercised options and scheduled for sale on 09/30/2025.

The filing documents a proposed sale of 1,604,879 ADS through Goldman Sachs with an aggregate market value of $286.84M. The ADS were acquired on 12/30/2024 upon exercise of vested employee stock options and were received as compensation for services. The filing also discloses an extensive series of ADS dispositions over the prior three months by Coast Bridge Investments Limited, listing many trade dates and corresponding gross proceeds. The notice provides transaction mechanics and broker details but does not identify the filer CIK, the issuer name, or the ultimate beneficial owner on this form, limiting context about control or timing motivations.

TL;DR: From a governance view, this is a routine Form 144 disclosure of option-derived shares being sold; material context is incomplete.

The form shows shares acquired via executive compensation

09/30/2025 - 04:46 PM

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

ADS

Goldman Sachs & Co. LLC
200 West Street
New York NY 10282

1604879

286840023.67

546492141

09/30/2025

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 *

ADS

12/30/2024

Execution of vested employee stock options

Issuer

1604879

12/30/2024

Compensation for service rendered

* 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