[Form 4] Invesco Variable Rate Preferred ETF Insider Trading Activity

Rhea-AI Filing Summary

Stephanie Butcher, Senior Managing Director at Invesco Ltd. (IVZ), reported multiple insider transactions dated 08/31/2025. The filing shows acquisitions of 25,497 and 19,179 restricted stock units (RSUs) that convert 1-for-1 into common shares and vest in four equal installments; those RSUs increase potential ownership by the same amounts. The report also records disposals of 11,984 and 9,015 common shares at $21.89 per share. After the transactions, disclosed direct beneficial ownership totals include 57,537 and 50,994 shares attributable to outstanding RSUs and an indicated direct common share holding of 133,047 (and other numeric totals listed). The form is signed by an attorney-in-fact on behalf of the reporting person.

Positive

• RSU awards recorded: 25,497 and 19,179 restricted stock units granted, each convertible 1-for-1 into common shares
• Vesting clarity: RSUs vest in four equal installments, providing a clear schedule for future share issuance
• Full compliance: Form includes transaction codes, amounts, prices, and an attorney-in-fact signature, indicating timely regulatory disclosure

Negative

• Share disposals: 11,984 and 9,015 common shares were sold at $21.89, reducing direct holdings
• Not immediately liquid: RSUs are contingent and subject to vesting, so reported increases are potential rather than immediate free-floating shares

Insights

Financial Analyst

TL;DR: Routine executive equity compensation and partial share dispositions; modest net change in direct holdings from RSU vesting and sales.

The filing documents standard compensation-related RSU awards and concurrent sales. Two RSU awards of 25,497 and 19,179 units were recorded as granted/vesting-contingent, each converting to one common share and vesting in four equal installments, which increases potential share exposure over time but does not immediately reflect freely tradable shares. Separate entries show sales/dispositions of 11,984 and 9,015 common shares at $21.89 each, reducing current direct holdings. For investors, these are routine disclosures of insider compensation and liquidity behavior rather than a material corporate event.

Corporate Governance Expert

TL;DR: Disclosure aligns with Section 16 requirements; transactions appear administrative and tied to compensation vesting schedules.

The Form 4 properly identifies the reporting person, relationship to the issuer, and provides transaction codes and quantities. It clarifies that each RSU equals one common share and that vesting occurs in four equal installments, which is a common executive compensation structure. The presence of an attorney-in-fact signature indicates procedural filing by a designated representative. There are no governance red flags or unusual acceleration clauses disclosed in this filing itself.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Butcher Stephanie

(Last) (First) (Middle)

1331 SPRING STREET, NW

SUITE 2500

(Street)

ATLANTA GA 30309

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Invesco Ltd. [ IVZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior Managing Director

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	08/31/2025		A		25,497	A	$0	134,867	D
Common Shares	08/31/2025		F		11,984	D	$21.89	122,883	D
Common Shares	08/31/2025		A		19,179	A	$0	142,062	D
Common Shares	08/31/2025		F		9,015	D	$21.89	133,047	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units(1)	$0	08/31/2025		M			25,497	(2)	(2)	Common Shares	25,497	$0	50,994	D
Restricted Stock Units(1)	$0	08/31/2025		M			19,179	(2)	(2)	Common Shares	19,179	$0	57,537	D

Explanation of Responses:

1. Each Restricted Stock Unit represents a contingent right to receive one Common share of Invesco Ltd.

2. The Restricted Stock Units vest in four equal installments and expire upon the employee's termination of employment.

Remarks:

	/s/ Rebecca Smith, as Attorney-in-Fact	09/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who filed the Form 4 and what is their role at Invesco (IVZ)?

The filing was made by Stephanie Butcher, identified as a Senior Managing Director and reporting person at Invesco Ltd. (IVZ).

What transactions occurred on 08/31/2025 according to the Form 4?

Transactions on 08/31/2025 include acquisitions of 25,497 and 19,179 RSUs and disposals of 11,984 and 9,015 common shares at $21.89 per share.

How do the restricted stock units (RSUs) convert into shares?

Each RSU represents a contingent right to receive one common share of Invesco Ltd.; the RSUs vest in four equal installments and expire upon termination of employment.

What was the price for the disposed shares reported in the Form 4?

The disposed common shares were reported sold at a price of $21.89 per share.

Does this Form 4 indicate any unusual governance issues?

No unusual governance issues are disclosed; the Form 4 documents routine compensation-related RSU grants, sales, and includes an attorney-in-fact signature for filing.