Tobias Lutke sells multiple SHOP shares (SHOP) amid RSU vesting and conversion entries

Rhea-AI Filing Summary

Shopify-related insider transactions reported on Form 144. The excerpt lists multiple open-market dispositions by Tobias Lutke across March–June 2026, with individual sale sizes such as 95,817, 72,000, and 23,813 shares on specific dates and reported proceeds for each sale. The filing also lists planned or related issuances including 46,758 Class A Subordinate Voting Shares from vesting of RSUs, a 111,000 share gift entry, and a 555,000 share conversion of Class B Multiple Voting Shares.

Insights

Corporate Governance Expert

Multiple reported dispositions by the CEO across several dates; vesting and conversion items also listed.

The excerpt lists numerous open-market sales by Tobias Lutke with per-trade share counts and reported proceeds for each date between 03/18/2026 and 06/03/2026. It separately records equity events: vesting of RSUs (46,758 shares), a gift (111,000 shares), and a conversion (555,000 shares).

These entries are transactional records; cash-flow treatment and whether sales were pursuant to any plan are not provided in the excerpt. Subsequent filings or footnotes would be required to clarify motivations or trading-plan status.

Key Figures

Sale example: 95,817 shares Sale example: 72,000 shares Sale example: 23,813 shares +3 more

6 metrics

Sale example 95,817 shares sold on 03/18/2026 with proceeds reported $12,189,384.62

Sale example 72,000 shares multiple sales on April/May 2026 with per-trade proceeds listed

Sale example 23,813 shares sold on 06/02/2026 with proceeds reported $2,868,623.5

RSU vesting 46,758 shares listed as Vesting of RSUs dated 06/08/2026

Gift 111,000 shares listed as Gift dated 12/10/2025

Conversion 555,000 shares Conversion of Class B Multiple Voting Shares dated 12/12/2025

Key Terms

Class A Subordinate Voting Shares, RSUs, Conversion of Class B Multiple Voting Shares, Form 144

4 terms

Class A Subordinate Voting Shares financial

"Class A Subordinate Voting Shares | 06/08/2026 | Vesting of RSUs"

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.

RSUs financial

"Vesting of RSUs | Issuer | 46,758 | 06/08/2026"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

Conversion of Class B Multiple Voting Shares regulatory

"Conversion of Class B Multiple Voting Shares | Issuer | 555000 | 12/12/2025"

Form 144 regulatory

"144: Securities Sold During The Past 3 Months | Tobias Lutke ..."

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.

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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 Subordinate Voting Shares	Solium Capital ULC 1500 600-3rd Ave., SW Calgary A0 T2P 0G5	24000	2849040	1219581025	06/08/2026	NASDAQ
Class A Subordinate Voting Shares	PWL Capital Inc. 3400 de Maisonneuve W Suite 1501 Montreal A8 H3Z 3B8	111000	13176810	1219581025	06/08/2026	NASDAQ
Class A Subordinate Voting Shares	PWL Capital Inc. 3400 de Maisonneuve W Suite 1501 Montreal A8 H3Z 3B8	555000	65884050	1219581025	06/08/2026	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	06/08/2026	Vesting of RSUs	Issuer			46758	06/08/2026	Vesting of RSUs
Class A Subordinate Voting Shares	12/10/2025	Gift			05/10/2022	111000		N/A (gift)
Class A Subordinate Voting Shares	12/12/2025	Conversion of Class B Multiple Voting Shares	Issuer			555000	12/12/2025	N/A (conversion)

* 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
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	03/18/2026	95817	12189384.62
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	03/25/2026	18000	2126907
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	04/01/2026	18000	2155761
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	04/08/2026	72000	8991813.6
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	04/15/2026	72000	8806212
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	04/22/2026	72000	9515059.2
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	04/29/2026	72000	8717191.2
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	05/07/2026	18000	1980144
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	05/28/2026	72000	8196148.8
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	06/02/2026	23813	2868623.5
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	06/03/2026	72000	8174102.4

144: Remarks and Signature

Remarks

Date of Notice

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 insider sales for SHOP are reported in this Form 144 excerpt?

The excerpt reports multiple sales by Tobias Lutke, including trades of 95,817, 72,000, and 23,813 shares on specific dates between March and June 2026, with reported proceeds per trade.

Does the filing show any equity awards or conversions for SHOP?

Yes: the excerpt lists 46,758 Class A shares from vesting of RSUs and a 555,000 share entry described as conversion of Class B Multiple Voting Shares with the date 12/12/2025.

Is there any gift transaction disclosed for SHOP in the excerpt?

Yes: the excerpt contains a 111,000 share line labeled Gift with an associated date of 12/10/2025, identified as a transfer type rather than an open-market sale.

Who is the primary reporting person in these sales for SHOP?

The reported seller in the transaction list is Tobias Lutke, with multiple dated sell entries and per-trade proceeds shown between 03/18/2026 and 06/03/2026.

Do the excerpted entries state whether proceeds go to the issuer or selling holders for SHOP?

The excerpt shows per-trade proceeds tied to each sale by Tobias Lutke but does not state whether proceeds are to the issuer or selling holders; cash-flow treatment is not specified in the provided text.