Shopify Insider's $1.2M Stock Sale Adds to $2.3M Sold in Past 3 Months

Rhea-AI Filing Summary

Form 144 Notice filed for Shopify regarding proposed sale of securities by insider Jessica Hertz. The filing details a planned sale of 11,340 Class A subordinate voting shares with an aggregate market value of $1,194,505.35 on NASDAQ, scheduled for June 23, 2025.

The shares were acquired through vesting of 22,955 RSUs on June 23, 2025. Previous trading activity over the past 3 months shows multiple sales by the same insider:

• June 9, 2025: 5,868 shares ($641,156)
• May 28, 2025: 1,860 shares ($197,654)
• May 14, 2025: 10,255 shares ($1,144,868)
• April 28, 2025: 1,834 shares ($179,989)
• March 28, 2025: 1,849 shares ($184,509)

The filing indicates Solium Capital as the broker for the transaction. Total shares outstanding: 1,218,135,388.

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
Class A Subordinate Voting Shares	Solium Capital Inc. Suite 1500 600-3rd Ave., SW Calgary A0 T2P 0G5	11340	1194505.35	1218135388	06/23/2025	NASDAQ

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 *
Class A Subordinate Voting Shares	06/23/2025	Vesting of RSUs	Issuer			22955	06/23/2025	Vesting of RSUs

* 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
Jessica Hertz 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	03/28/2025	1849	184509.31
Jessica Hertz 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	04/28/2025	1834	179988.76
Jessica Hertz 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	05/14/2025	10255	1144868.2
Jessica Hertz 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	05/28/2025	1860	197654.39
Jessica Hertz 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	06/09/2025	5868	641156.46

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 SHOP Class A shares is the insider selling on June 23, 2025?

According to the Form 144 filing, the insider plans to sell 11,340 Class A Subordinate Voting Shares of Shopify (SHOP) with an aggregate market value of $1,194,505.35 through broker Solium Capital Inc.

How did the SHOP insider acquire the shares being sold?

The shares were acquired through the vesting of RSUs (Restricted Stock Units) from the issuer on June 23, 2025. The filing shows the insider originally acquired 22,955 shares through this RSU vesting event.

What is Jessica Hertz's recent SHOP stock selling history in 2025?

Over the past 3 months, Jessica Hertz has made multiple sales of SHOP shares: 1,849 shares on March 28 ($184,509), 1,834 shares on April 28 ($179,989), 10,255 shares on May 14 ($1,144,868), 1,860 shares on May 28 ($197,654), and 5,868 shares on June 9 ($641,156).

What is the total number of SHOP shares outstanding as of June 2025?

According to the Form 144 filing, Shopify has 1,218,135,388 Class A Subordinate Voting Shares outstanding at the time of the filing.