Shopify officer plans $1.4M share sale after RSU vest

Shopify officer Jessica Hertz filed a Rule 144 notice to sell Class A shares mainly to cover taxes and fees from restricted stock unit vesting.

Rhea-AI Filing Summary

Shopify Inc. (SHOP) officer Jessica Hertz filed a notice under Rule 144 for potential sales of Class A Subordinate Voting Shares. The securities information section lists 11,171 shares with an aggregate market value of $1,438,737.24, based on a September 11, 2026 closing price of $128.79 per share, and notes 1,208,570,347 shares outstanding as of July 31, 2026. A separate section describes 22,342 shares in connection with a September 19, 2026 vesting of RSUs. In the prior three months, Hertz reported multiple sales of Shopify Class A shares, including 3,834 shares on June 29, 2026, 3,675 shares on July 28, 2026, 10,394 shares on August 27, 2026, and 3,636 shares on August 28, 2026. The remarks state that upcoming sales are intended to cover taxes and fees from RSU vesting and that the indicated sale dates reflect a three‑month period starting on September 19, 2026.

Key Figures

Shares listed in securities information: 11,171 shares Aggregate market value: $1,438,737.24 Closing price used: $128.79 per share +5 more

8 metrics

Shares listed in securities information 11,171 shares Class A Subordinate Voting Shares covered in the Rule 144 securities information section

Aggregate market value $1,438,737.24 Value of 11,171 shares using September 11, 2026 closing price of $128.79 per share

Closing price used $128.79 per share September 11, 2026 closing price used to calculate aggregate market value

Shares outstanding 1,208,570,347 shares Shares outstanding as of July 31, 2026

Shares tied to RSU vesting entry 22,342 shares Class A shares in securities to be sold section dated September 19, 2026, vesting of RSUs

Sale on June 29, 2026 3,834 shares for $445,779.18 Past three‑month sale of Class A Subordinate Voting Shares

Sale on July 28, 2026 3,675 shares for $487,036.73 Past three‑month sale of Class A Subordinate Voting Shares

Sale on August 27, 2026 10,394 shares for $1,606,337.61 Past three‑month sale of Class A Subordinate Voting Shares

Key Terms

Rule 144, Class A Subordinate Voting Shares, vesting of RSUs, Aggregate market value

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Class A Subordinate Voting Shares financial

"Class A Subordinate Voting Shares | Solium Capital Inc."

Class A subordinate voting shares are a type of common stock that carries limited voting power compared with a superior share class; holders own the economic interest in the company but usually have less influence over major decisions than holders of higher-vote shares. For investors this matters because these shares can trade at different prices and offer the same upside and dividend rights but less control—like owning a seat on a bus instead of the driver’s seat.

vesting of RSUs financial

"09/19/2026 | Vesting of RSUs | Issuer"

Aggregate market value financial

"Aggregate market value calculated using September 11, 2026 closing price"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 144 filed for SHOP by Jessica Hertz disclose?

It discloses planned sales of Shopify Class A Subordinate Voting Shares under Rule 144, linked to vesting of RSUs beginning September 19, 2026, with upcoming sales intended to cover taxes and fees resulting from that vesting.

How many Shopify (SHOP) shares are covered in the Rule 144 securities information?

The securities information section lists 11,171 shares of Shopify Class A Subordinate Voting Shares with an aggregate market value of $1,438,737.24, calculated using the September 11, 2026 closing price of $128.79 per share.

What RSU-related Shopify (SHOP) share amount is noted in the securities to be sold section?

The securities to be sold section identifies 22,342 Class A Subordinate Voting Shares in connection with a September 19, 2026 event described as vesting of RSUs, with the issuer listed as Shopify Inc.

What prior three-month Shopify (SHOP) share sales by Jessica Hertz are reported?

Reported past three‑month sales include 3,834 shares on June 29, 2026 for $445,779.18, 3,675 shares on July 28, 2026 for $487,036.73, 10,394 shares on August 27, 2026 for $1,606,337.61, and 3,636 shares on August 28, 2026 for $564,495.18.

How many Shopify (SHOP) shares were outstanding at the date cited in the Form 144?

The filing states that 1,208,570,347 shares of Shopify Class A Subordinate Voting Shares were outstanding as of July 31, 2026, used as the reference for the Rule 144 notice calculations.

What is the stated purpose of the planned Shopify (SHOP) share sales in this notice?

The remarks explain that upcoming sales are expected to be made to cover taxes and fees resulting from the vesting of RSUs, with sale dates reflecting a three month period starting on September 19, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/18/2026 - 04:10 PM Accepted by SEC EDGAR 09/18/2026 - 04:09 PM Learn about SEC filing dates

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	0001962731
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Shopify Inc.
SEC File Number
Address of Issuer	151 O'Connor St. Ground Floor Ottawa ONTARIO, CANADA K2P 2L8
Phone	6132412828
Name of Person for Whose Account the Securities are To Be Sold	Jessica Hertz
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	Officer

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	11171	1438737.24	1208570347	09/19/2026	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	09/19/2026	Vesting of RSUs	Issuer			22342	09/19/2026	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	06/29/2026	3834	445779.18
Jessica Hertz 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	07/28/2026	3675	487036.73
Jessica Hertz 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	08/27/2026	10394	1606337.61
Jessica Hertz 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	08/28/2026	3636	564495.18

144: Remarks and Signature

Remarks	Aggregate market value calculated using September 11, 2026 closing price of $128.79 per share. Number of shares outstanding as of July 31, 2026. Sales to be made to cover taxes and fees resulting from the vesting of RSUs. Dates of sale reflect a three month period starting on September 19, 2026.
Date of Notice	09/18/2026
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	Jessica Hertz
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)