Shopify officer files notice for $198K share sale

An officer of Shopify Inc. filed a Rule 144 notice for potential sales of Class A shares tied to RSU vesting and recent share sale activity.

Rhea-AI Filing Summary

Shopify Inc. (SHOP) has a notice from officer Jean Niehaus under Rule 144 indicating an intention to sell Class A Subordinate Voting Shares in connection with the vesting of restricted stock units (RSUs). The planned sales, beginning around September 19, 2026, are described as being made to cover taxes and fees from RSU vesting.

The notice lists prior sales of Shopify Class A Subordinate Voting Shares by Niehaus over the preceding three months and provides an aggregate market value reference based on a September 11, 2026 closing price.

Key Figures

Shares listed in securities information section: 1,537 shares Aggregate market value: $197,953.21 Reference share price: $128.79 per share +5 more

8 metrics

Shares listed in securities information section 1,537 shares Class A Subordinate Voting Shares referenced for potential sale

Aggregate market value $197,953.21 Value associated with 1,537 shares in securities information section

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

RSUs vesting amount 3,288 shares Class A Subordinate Voting Shares tied to vesting of RSUs on September 19, 2026

Prior sale on June 29, 2026 405 shares for $47,089.35 Class A Subordinate Voting Shares sold by Jean Niehaus

Prior sale on July 28, 2026 432 shares for $57,251.66 Class A Subordinate Voting Shares sold by Jean Niehaus

Prior sale on August 6, 2026 3,438 shares for $504,560.88 Class A Subordinate Voting Shares sold by Jean Niehaus

Prior sale on August 28, 2026 489 shares for $75,918.08 Class A Subordinate Voting Shares sold by Jean Niehaus

Key Terms

Rule 144, Class A Subordinate Voting Shares, vesting of RSUs, aggregate market value, +1 more

5 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

"Class A Subordinate Voting Shares | 09/19/2026 | Vesting of RSUs"

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.

restricted stock units (RSUs) financial

"Sales to be made to cover taxes and fees resulting from the vesting of RSUs."

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

FAQ

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

What does the Form 144 filing for Shopify Inc. (SHOP) disclose?

It discloses that officer Jean Niehaus filed a Rule 144 notice to potentially sell Class A Subordinate Voting Shares of Shopify Inc. in connection with vesting of RSUs, with sales described as being made to cover taxes and fees.

How many Shopify (SHOP) shares are referenced in the Form 144 securities section?

The securities information section lists 1,537 Class A Subordinate Voting Shares with an aggregate market value of $197,953.21, based on a closing price referenced elsewhere in the notice.

What RSU vesting amount is noted in the Shopify (SHOP) Form 144?

The securities-to-be-sold section associates the vesting of RSUs on September 19, 2026 with 3,288 Class A Subordinate Voting Shares, acquired from the issuer and identified as related to RSU vesting.

What prior Shopify (SHOP) share sales by Jean Niehaus are listed?

The notice lists prior sales of Class A Subordinate Voting Shares: 405 shares for $47,089.35 on June 29, 2026; 432 shares for $57,251.66 on July 28, 2026; 3,438 shares for $504,560.88 on August 6, 2026; and 489 shares for $75,918.08 on August 28, 2026.

What price per Shopify (SHOP) share is used to calculate market value in the Form 144?

The remarks state that the aggregate market value was calculated using the September 11, 2026 closing price of $128.79 per share of Shopify Class A Subordinate Voting Shares.

Over what period are the proposed Shopify (SHOP) sales expected under this Form 144?

The remarks explain that the dates of sale reflect a three month period starting on September 19, 2026, indicating an expected sale window of approximately three months beginning on that date.

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

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Available on EDGAR 09/18/2026 - 04:11 PM Accepted by SEC EDGAR 09/18/2026 - 04:11 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	0002093214
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	Jean Niehaus
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	1537	197953.21	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			3288	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
Jean Niehaus 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	06/29/2026	405	47089.35
Jean Niehaus 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	07/28/2026	432	57251.66
Jean Niehaus 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	08/06/2026	3438	504560.88
Jean Niehaus 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	08/28/2026	489	75918.08

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	Jean Niehaus
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)