Shopify officer plans sale of 10,394 shares

Rhea-AI Filing Summary

SHOPIFY INC. (SHOP) received a Form 144 notice from officer Jessica Hertz indicating a proposed sale of up to 10,394 Class A Subordinate Voting Shares through Morgan Stanley Smith Barney LLC. The shares have an aggregate market value of $1,606,337.61, based on a share count of 1,208,570,347 outstanding, with sales expected to occur on or about 08/27/2026 on NASDAQ. The filing also lists multiple tranches of restricted stock scheduled to vest under a registered plan between 12/29/2025 and 07/28/2026, with individual vesting amounts ranging from 37 to 2,595 shares.

Key Figures

Shares proposed to be sold: 10,394 Class A Subordinate Voting Shares Aggregate market value of shares: $1,606,337.61 Shares outstanding: 1,208,570,347 Class A Subordinate Voting Shares +3 more

6 metrics

Shares proposed to be sold 10,394 Class A Subordinate Voting Shares Maximum number of shares to be sold under Rule 144

Aggregate market value of shares $1,606,337.61 Value of 10,394 Class A Subordinate Voting Shares proposed for sale

Shares outstanding 1,208,570,347 Class A Subordinate Voting Shares Referenced share count for Shopify Inc.

Approximate date of sale 08/27/2026 Planned timing for potential Rule 144 sale on NASDAQ

Largest single restricted stock vesting tranche 2,595 shares Class A Subordinate Voting Shares vesting on 07/28/2026 under a registered plan

Notable restricted stock vesting tranche 1,455 shares Class A Subordinate Voting Shares vesting on 12/29/2025 under a registered plan

Key Terms

Rule 144, Form 144, Class A Subordinate Voting Shares, Restricted Stock Vesting Under a Registered Plan

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.

Form 144 regulatory

"144: Filer Information"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Class A Subordinate Voting Shares financial

"Class A Subordinate Voting Shares | Morgan Stanley Smith Barney LLC"

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.

Restricted Stock Vesting Under a Registered Plan financial

"Restricted Stock Vesting Under a Registered Plan | Issuer"

FAQ

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

What does the Form 144 filing by Jessica Hertz mean for SHOP (Shopify Inc.)?

The filing states that Jessica Hertz, an officer of Shopify Inc., plans a potential sale of up to 10,394 Class A Subordinate Voting Shares under Rule 144. It is a notice of a proposed sale, not a confirmation that the sale has occurred.

How many Shopify (SHOP) shares are covered by this Form 144?

The notice covers up to 10,394 Class A Subordinate Voting Shares of Shopify Inc. for potential sale through Morgan Stanley Smith Barney LLC, as disclosed in the Form 144 securities information section.

What is the approximate market value of the Shopify (SHOP) shares in this Form 144?

The filing lists an aggregate market value of $1,606,337.61 for the 10,394 Shopify Class A Subordinate Voting Shares proposed to be sold under Rule 144.

When might the Shopify (SHOP) shares in this Form 144 be sold?

The Form 144 indicates an approximate date of sale of 08/27/2026 for the proposed sale of Shopify Class A Subordinate Voting Shares on NASDAQ.

How many Shopify (SHOP) shares were outstanding as referenced in this Form 144?

The Form 144 references 1,208,570,347 Shopify Class A Subordinate Voting Shares outstanding, used as the share count in the securities information section.

What restricted stock vesting is disclosed in the Shopify (SHOP) Form 144?

The notice lists several tranches of restricted stock vesting under a registered plan between 12/29/2025 and 07/28/2026, including individual vesting events such as 1,455, 1,487, and 2,595 Class A Subordinate Voting Shares.

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

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Available on EDGAR 08/27/2026 - 04:23 PM EDT Accepted by SEC EDGAR 08/27/2026 - 04:19 PM EDT 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	001-37400
Address of Issuer	8488 Rozita Lee Ave Bldg 3 Suite 100 Las Vegas NEVADA 89113
Phone	(613) 241-2828
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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	10394	1606337.61	1208570347	08/27/2026	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	12/29/2025	Restricted Stock Vesting Under a Registered Plan	Issuer			68	12/29/2025	Not Applicable
Class A Subordinate Voting Shares	12/29/2025	Restricted Stock Vesting Under a Registered Plan	Issuer			84	12/29/2025	Not Applicable
Class A Subordinate Voting Shares	12/29/2025	Restricted Stock Vesting Under a Registered Plan	Issuer			305	12/29/2025	Not Applicable
Class A Subordinate Voting Shares	12/29/2025	Restricted Stock Vesting Under a Registered Plan	Issuer			1455	12/29/2025	Not Applicable
Class A Subordinate Voting Shares	01/28/2026	Restricted Stock Vesting Under a Registered Plan	Issuer			373	01/28/2026	Not Applicable
Class A Subordinate Voting Shares	01/28/2026	Restricted Stock Vesting Under a Registered Plan	Issuer			1487	01/28/2026	Not Applicable
Class A Subordinate Voting Shares	07/28/2026	Restricted Stock Vesting Under a Registered Plan	Issuer			37	07/28/2026	Not Applicable
Class A Subordinate Voting Shares	07/28/2026	Restricted Stock Vesting Under a Registered Plan	Issuer			1140	07/28/2026	Not Applicable
Class A Subordinate Voting Shares	07/28/2026	Restricted Stock Vesting Under a Registered Plan	Issuer			2595	07/28/2026	Not Applicable
Class A Subordinate Voting Shares	03/09/2026	Restricted Stock Vesting Under a Registered Plan	Issuer			364	03/09/2026	Not Applicable
Class A Subordinate Voting Shares	03/09/2026	Restricted Stock Vesting Under a Registered Plan	Issuer			2486	03/09/2026	Not Applicable

* 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

Nothing to Report

144: Remarks and Signature

Remarks
Date of Notice	08/27/2026
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	/s/ Jessica Rose Hertz
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)