[Form 4] Shoals Technologies Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

NVIDIA Corp (NVDA) ‒ Form 144 filed for CEO Jensen Huang

The notice covers a planned sale of 75,000 common shares through Charles Schwab on, or after, 21-Jul-2025. At the reference price used in the filing, the block is valued at roughly $12.93 million. The shares were obtained via option exercise on 08-Sep-2023 and will be sold on Nasdaq. NVIDIA reports 24.4 billion shares outstanding, so the proposed sale represents about 0.06 % of the float.

The form also discloses extensive recent insider activity: from 20-Jun-2025 to 18-Jul-2025, Huang executed 20 trades totaling 1.425 million shares (50-75 k per day) for aggregate gross proceeds of roughly $228 million. The filing reiterates that the insider possesses no undisclosed material information and may be acting under a Rule 10b5-1 trading plan.

Although the percentage of total shares is small, the continued cadence of CEO sales can influence sentiment and will be tracked closely by investors watching insider-ownership trends.

Insights

Securities Analyst

TL;DR: Regular-sized sale by CEO; cadence of insider selling may weigh on optics but is immaterial to float.

The additional 75 k-share sale is minor versus NVIDIA’s multi-billion-share base. However, cumulative sales of 1.5 million shares in one month, worth >$240 M, draw attention because they come from the founder-CEO. The disclosure follows Rule 10b5-1 protocols, limiting information risk. From a valuation standpoint, the transactions do not affect fundamentals, yet persistent insider selling can create headline pressure and feed profit-taking narratives after NVDA’s sharp run-up. Overall impact: neutral.

Corporate Governance Expert

TL;DR: Sales appear 10b5-1-driven; governance concerns low but investor optics moderately negative.

Huang’s plan disclosure, statement of no MNPI, and incremental size align with compliance best practices. The volume sold over the last month remains modest relative to his overall stake, preserving alignment. Nonetheless, large dollar proceeds and rapid cadence can raise governance questions about board oversight of trading plans. Investors should watch future filings for pattern persistence.

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
Estimated average burden
hours per response:			0.5

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^*

MOSS BRANDON

(Last) (First) (Middle)

1400 SHOALS WAY

(Street)

PORTLAND TN 37148

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Shoals Technologies Group, Inc. [ SHLS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/17/2025

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
Class A Common Stock	07/17/2025		F		9,172(1)	D	$5.7(2)	1,042,131	D

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. Represents 9,172 shares of common stock that have been withheld by the Issuer to satisfy the income tax obligations of the Reporting Person in connection with the vesting of 20,592 restricted stock units, and does not represent a sale by the Reporting Person.

2. Pursuant to the Shoals Technologies Group, Inc. 2021 Long-Term Incentive Plan, the closing price of the common stock on the Nasdaq Global Market on the date of vesting is used for purposes of computing tax reporting and withholding.

Remarks:

	/s/ Bobbie King, as Attorney-in-Fact for Brandon Moss	07/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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