Form 144 Filing: Insider Sold 7,807 Shares; 9,760-Share Sale Planned

Rhea-AI Filing Summary

Form 144 notice for proposed sale of securities by an insider. The filing shows a proposed sale of 9,760 common shares through Morgan Stanley Smith Barney on the NYSE, with an aggregate market value of $744,102.40 and approximately 609,584,000 shares outstanding. The securities listed were acquired as restricted stock on July 1, 2025 (1,679 shares) and August 20, 2025 (8,081 shares), with payment recorded on acquisition dates as "Not Applicable." The filer also reported two recent sales in the past three months: 6,465 shares sold on August 21, 2025 for $473,253.09 and 1,342 shares sold on July 2, 2025 for $92,947.32. The notice includes the standard representation that the seller does not possess undisclosed material adverse information.

Positive

• Required disclosure provided: The filer supplied dates, share counts, acquisition types, broker details, and gross proceeds, enabling public transparency.
• Acquisitions are restricted stock: The securities to be sold were acquired as restricted stock on specific dates, which clarifies the nature of holdings.

Negative

• Insider selling shares: The filer proposed sale of 9,760 shares valued at $744,102.40, and recorded recent sales of 7,807 shares in the past three months.
• No 10b5-1 plan date disclosed: The remarks do not specify a trading plan adoption date, so plan-based protection is not documented in this filing.

Insights

Securities/Compliance Analyst

TL;DR: Insider plans to sell recently vested restricted stock totaling 9,760 shares worth $744k; recent sales of 7,807 shares occurred within two months.

The Form 144 documents a proposed brokered sale and discloses acquisition dates and types (restricted stock), which is important for Rule 144 compliance and tracking potential short-swing or Rule 10b5-1 plan usage. The filing lists exact share counts, dates, and gross proceeds for recent disposals, enabling verification against company insider transaction records. No indication of a Rule 10b5-1 plan date or other conditional trading instruction is provided in the remarks section. From a compliance perspective, the filing appears to supply required transaction detail for public record.

Equity Research Associate

TL;DR: The disclosed sales are tangible but not necessarily material relative to outstanding shares; the timing aligns with restricted stock acquisitions.

The notice shows the insider acquired restricted stock on July 1 and August 20, 2025, then sold portions in July and August and plans an additional sale of 9,760 shares. The aggregate planned sale value is $744,102.40. For analysts, these figures allow calculation of realized vs planned disposals and provide transparency about insider liquidity but do not alone indicate a change in company fundamentals.

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

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
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	9760	744102.40	609584000	09/02/2025	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 *
Common	07/01/2025	Restricted Stock	Issuer			1679	07/01/2025	Not Applicable
Common	08/20/2025	Restricted Stock	Issuer			8081	08/20/2025	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Brian Grassadonia 1955 Broadway, Suite 600 Oakland CA 94612	Common	08/21/2025	6465	473253.09
Brian Grassadonia 1955 Broadway, Suite 600 Oakland CA 94612	Common	07/02/2025	1342	92947.32

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 Form 144 for XYZ disclose about insider sales?

The filing discloses a proposed sale of 9,760 common shares via Morgan Stanley Smith Barney valued at $744,102.40 on the NYSE.

When were the securities acquired that are being sold under Form 144?

The securities were acquired as restricted stock on July 1, 2025 (1,679 shares) and August 20, 2025 (8,081 shares).

Has the filer sold any shares in the past three months?

Yes. The filer sold 1,342 shares on July 2, 2025 for $92,947.32 and 6,465 shares on August 21, 2025 for $473,253.09.

Through which broker will the proposed sale be executed?

The proposed sale is to be executed through Morgan Stanley Smith Barney LLC, Executive Financial Services on the NYSE.

How many shares outstanding does the filing report?

The filing reports approximately 609,584,000 shares outstanding.