[Form 4] Sezzle Inc. Insider Trading Activity

Rhea-AI Filing Summary

Charles G. Youakim, Executive Chairman and CEO of Sezzle Inc. (SEZL), reported a Form 4 filing showing a transaction dated 09/30/2025. The filing discloses that 6,978 shares of Sezzle common stock were forfeited at a price of $84.19 in connection with the vesting of previously awarded restricted stock units to satisfy withholding tax obligations. After the reported forfeiture, the filing lists 12,346,449 shares beneficially owned directly, 947,370 shares held indirectly by Cerro Gordo LLC, and 1,508,454 shares held indirectly by the Charles G. Youakim 2020 Irrevocable GST Trust. The form was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Disclosure of tax-withholding action shows compliance following RSU vesting
• Detailed breakdown of direct and indirect beneficial ownership improves transparency

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine tax-withholding forfeiture on vested RSUs; no indication of active divestiture or change in control.

The Form 4 documents a forfeiture of vested restricted stock units to cover withholding taxes rather than an open-market sale, which is a common administrative action following equity vesting. The filing also reaffirms the reporting person's substantial direct and indirect holdings in Sezzle, including ownership via an LLC and a trust. From a governance perspective, this is a routine disclosure that maintains transparency about insider holdings and compliance with tax obligations.

Securities Analyst

TL;DR: Small number of shares forfeited relative to total holdings; transaction unlikely to be material to SEZL valuation.

The forfeiture of 6,978 shares at $84.19 is immaterial relative to the reporting person's direct beneficial ownership of over 12 million shares. The filing provides clear breakdowns of direct and indirect holdings, which supports basic position sizing analysis. No derivative transactions or other dispositions are reported. This Form 4 does not present new operational or financial information about Sezzle.

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

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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).

1. Name and Address of Reporting Person^*

Youakim Charles

(Last) (First) (Middle)

700 NICOLLET MALL

SUITE 640

(Street)

MINNEAPOLIS MN 55402

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Sezzle Inc. [ SEZL ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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
Common Stock, par value $0.00001 per share	09/30/2025		F(1)		6,978	D	$84.19	12,346,449	D
Common Stock, par value $0.00001 per share								947,370	I	Cerro Gordo LLC
Common Stock, par value $0.00001 per share								1,508,454	I	By Charles G. Youakim 2020 Irrevocable GST Trust(2)

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

Explanation of Responses:

1. In connection with the vesting of previously awarded restricted stock units, the reporting person forfeited these shares of common stock to satisfy withholding tax obligations.

2. The reporting person may be deemed to have voting and dispositive power over these securities.

Remarks:

	/s/ Brady Duane Kafka, as Attorney-in-Fact	09/30/2025
	** 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 transaction did Charles G. Youakim report on the SEZL Form 4?

The filing reports the forfeiture of 6,978 shares of common stock on 09/30/2025 to satisfy withholding tax obligations related to vested RSUs.

How many Sezzle shares does the reporting person beneficially own after the transaction?

The Form 4 lists 12,346,449 shares held directly, 947,370 shares indirectly via Cerro Gordo LLC, and 1,508,454 shares indirectly via the Charles G. Youakim 2020 Irrevocable GST Trust.

Was this a market sale or a tax-withholding forfeiture?

The explanation on the form states the shares were forfeited to satisfy withholding tax obligations from vested restricted stock units.

Did the Form 4 report any derivative transactions for SEZL?

No. Table II for derivative securities is blank and the filing reports only non-derivative common stock activity.

Who signed the Form 4 filing?

The Form 4 was signed by Brady Duane Kafka, as Attorney-in-Fact, on 09/30/2025.