SHOP Form 144: Insider to sell 9,838 RSU shares via Solium Capital

Rhea-AI Filing Summary

Insider notice to sell restricted shares and recent small dispositions. The form reports a proposed sale of 9,838 Class A Subordinate Voting Shares on 09/22/2025 through broker Solium Capital, with an aggregate market value of $1,410,570.79. The filer acquired 20,755 shares by vesting of RSUs on 09/22/2025, and intends to sell a portion of those shares. The filing also lists four prior sales by the same person over the past three months totaling 9,724 shares for gross proceeds of approximately $1,313,000.44. The issuer's outstanding share count is shown as 1,220,418,767, indicating the transactions are small relative to total equity.

Positive

• Full disclosure of acquisition method (RSU vesting) and prior three-month sales history
• Broker name and proposed sale date are specified, aiding transparency
• Sale size is small relative to reported 1,220,418,767 shares outstanding

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider sale from vested RSUs; size is immaterial versus total shares outstanding.

The filing shows an insider selling vested compensation shares rather than shares purchased in a secondary market acquisition. The proposed sale of 9,838 shares for about $1.41m follows four recent small dispositions totaling 9,724 shares and ~$1.313m. Relative to the reported ~1.22 billion shares outstanding, these transactions represent a negligible dilution or change in ownership percentage. For investors, this looks like liquidity of compensation rather than a corporate or operational signal.

Compliance/Risk Analyst

TL;DR: Filing appears to meet Rule 144 disclosure elements and includes prior three-month sales history.

The notice discloses broker details, acquisition method (RSU vesting), dates, and amounts for the securities proposed to be sold and prior sales within three months, aligning with Rule 144 expectations. The filer affirms no undisclosed material adverse information. There is no indication of unusual trading patterns or material noncompliance in this submission based on the content provided.

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	9838	1410570.79	1220418767	09/22/2025	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	09/22/2025	Vesting of RSUs	Issuer			20755	09/22/2025	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
Jeff Hoffmeister 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	06/30/2025	1923	222260.53
Jeff Hoffmeister 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	07/28/2025	1913	244303.87
Jeff Hoffmeister 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	08/28/2025	1963	278809.21
Jeff Hoffmeister 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	09/09/2025	3925	567626.83

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

What is the size and value of the proposed SHOP insider sale?

The proposed sale is 9,838 Class A shares with an aggregate market value of $1,410,570.79 scheduled for 09/22/2025.

How were the securities acquired that are being sold in this Form 144?

The securities were acquired via vesting of RSUs on 09/22/2025, totaling 20,755 shares.

What recent sales by the filer are disclosed in the past three months?

Four prior sales on 06/30/2025, 07/28/2025, 08/28/2025, and 09/09/2025 totaling 9,724 shares for approximately $1,313,000.44 in gross proceeds.

Through which broker will the proposed sale be executed?

The filing lists Solium Capital Inc., Suite 1500 600-3rd Ave., SW Calgary as the broker for the proposed sale.

Does the filing indicate material undisclosed information about the issuer?

By signing the notice the filer represents they do not know of any material adverse information about the issuer that has not been publicly disclosed.