Shah sells large Class A blocks; W (NYSE: W) Form 144 notice

Rhea-AI Filing Summary

W submitted a Form 144 reporting sales of Class A shares by Niraj S. Shah and Shah Charitable Foundation under Rule 144. The filing lists multiple sales dates and amounts, including Niraj S. Shah's sale of 113,863 shares for $8,823,241.15 on 04/23/2026 and 107,818 shares for $8,323,118.54 on 03/23/2026. The notice records earlier sales in February and March 2026 by both the individual and the foundation.

Insights

Securities Attorney

Form 144 notifies the market of intended Rule 144 resales by an insider and affiliated foundation.

Form 144 is a regulatory notice that reports proposed sales of restricted or control securities under Rule 144. It does not itself effect a sale but signals that the sellers intend to rely on the Rule's resale safe harbour.

Confirming trade execution, settlement dates, and whether resale conditions were met requires subsequent market filings; the listed sale dates and amounts provide the primary observable data in this excerpt.

Key Figures

Sale - 04/23/2026: 113,863 shares Sale - 03/23/2026: 107,818 shares Sale - 02/23/2026: 93,000 shares +2 more

5 metrics

Sale - 04/23/2026 113,863 shares proceeds $8,823,241.15 reported on 04/23/2026

Sale - 03/23/2026 107,818 shares proceeds $8,323,118.54 reported on 03/23/2026

Sale - 02/23/2026 93,000 shares proceeds $6,940,293.42 reported on 02/23/2026

Sale - 02/26/2026 27,000 shares proceeds $2,129,768.33 reported on 02/26/2026

Sale examples - Foundation 5,000 shares proceeds $462,750.00 reported on 02/10/2026 by Shah Charitable Foundation

Key Terms

Form 144, Rule 144, Class A, Founders Shares

4 terms

Form 144 regulatory

"Form 144 reporting sales of Class A shares by Niraj S. Shah"

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.

Rule 144 regulatory

"sales reported under Rule 144 resale safe harbour"

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 financial

"Class A shares listed as the securities to be sold"

Class A denotes a specific group of a company’s shares that carry a particular set of rights—most commonly different voting power or dividend priority compared with other share classes. Think of it like different seats on a bus where some seats let you steer and others only ride: knowing whether a share is Class A tells investors how much influence they have over company decisions and how returns might be distributed, which affects control and value.

Founders Shares corporate

"Founders Shares listed under Securities To Be Sold"

Founders shares are a special block of a company’s stock originally given to the people who started the business; they often carry extra voting power or favorable terms compared with regular shares. For investors, these shares matter because they concentrate control and influence how future funding, ownership dilution, and decision-making will play out—think of founders shares as the steering wheel that can steer a company’s direction even as more passengers (investors) climb aboard.

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

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	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	6137	482489.64	108769567	04/24/2026	NYSE

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	01/01/2002	Founders Shares	Issuer			6137	01/01/2002	Compensation

* 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
Shah Charitable Foundation 4 Copley Place Boston MA 02116	Class A	02/10/2026	5000	462750.00
Niraj S. Shah 4 Copley Place Boston MA 02116	Class A	02/23/2026	93000	6940293.42
Niraj S. Shah 4 Copley Place Boston MA 02116	Class A	02/26/2026	27000	2129768.33
Shah Charitable Foundation 4 Copley Place Boston MA 02116	Class A	03/10/2026	5000	375600.00
Niraj S. Shah 4 Copley Place Boston MA 02116	Class A	03/23/2026	107818	8323118.54
Niraj S. Shah 4 Copley Place Boston MA 02116	Class A	03/24/2026	1571	121247.24
Niraj S. Shah 4 Copley Place Boston MA 02116	Class A	03/25/2026	10611	834958.95
Shah Charitable Foundation 4 Copley Place Boston MA 02116	Class A	04/10/2026	4000	295040.00
Shah Charitable Foundation 4 Copley Place Boston MA 02116	Class A	04/14/2026	1000	75000.00
Niraj S. Shah 4 Copley Place Boston MA 02116	Class A	04/23/2026	113863	8823241.15

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 does W's Form 144 report about Niraj S. Shah?

It reports multiple Class A share sales by Niraj S. Shah. The filing lists sales such as 113,863 shares for $8,823,241.15 on 04/23/2026 and prior sales in February–March 2026 by the same reporting person.

Did Shah Charitable Foundation also sell shares in the W filing?

Yes. The filing shows sales by Shah Charitable Foundation. Examples include 5,000 shares on 02/10/2026 for $462,750.00 and other small-lot sales listed in March and April 2026.

Does Form 144 mean the shares have settled or been sold?

No. Form 144 is a notice of intent to sell under Rule 144, not proof of settlement. The filing lists the dates and amounts that the sellers reported for planned or completed transactions.

What securities and exchange are referenced in the filing?

The filing references Class A shares traded on the NYSE. The excerpt shows seller identities, sale dates, share counts, and gross proceeds for each listed transaction.

How can I verify whether the reported sales completed?

Check subsequent trade confirmations or SEC market filings for settlement evidence. The Form 144 excerpt itself lists trade dates and amounts but does not confirm final settlement.