Shopify CEO Adopts Automatic Securities Disposition Plan

TL;DR

Shopify CEO just set up a plan to sell stock automatically, good for transparency.

AI Summary

Shopify Inc. announced on September 6, 2024, that its Chief Executive Officer has adopted an Automatic Securities Disposition Plan. This plan outlines the procedures for the disposition of securities held by the CEO.

Why It Matters

This plan provides transparency and structure for potential future sales of Shopify stock by its CEO, which can influence investor perception.

Risk Assessment

Risk Level: low — The filing is a procedural announcement regarding a securities disposition plan, not a material financial event.

Key Players & Entities

• Shopify Inc. (company) — Registrant
• September 6, 2024 (date) — Filing and Plan Adoption Date
• Automatic Securities Disposition Plan (document) — Subject of the filing

FAQ

From the Filing

0001594805-24-000072.txt : 20240906 0001594805-24-000072.hdr.sgml : 20240906 20240906170501 ACCESSION NUMBER: 0001594805-24-000072 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240906 FILED AS OF DATE: 20240906 DATE AS OF CHANGE: 20240906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SHOPIFY INC. CENTRAL INDEX KEY: 0001594805 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37400 FILM NUMBER: 241285158 BUSINESS ADDRESS: STREET 1: 151 O'CONNOR STREET STREET 2: GROUND FLOOR CITY: OTTAWA STATE: A6 ZIP: K2P 2L8 BUSINESS PHONE: 613-241-2828 MAIL ADDRESS: STREET 1: 151 O'CONNOR STREET STREET 2: GROUND FLOOR CITY: OTTAWA STATE: A6 ZIP: K2P 2L8 6-K 1 form6ktobiasdppressrelease.htm 6-K Document SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of September 2024 Commission File Number 001-37400  Shopify Inc. (Translation of registrant’s name into English) 151 O'Connor Street, Ground Floor Ottawa, Ontario, Canada K2P 2L8 (Address of principal executive offices)      Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F x      DOCUMENTS INCLUDED AS PART OF THIS REPORT Exhibit 99.1    Shopify Inc. - Automatic Securities Disposition Plan Adopted by Shopify Chief Executive Officer SIGNATURES      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Shopify Inc. (Registrant) Date: September 6, 2024 By: /s/ Michael L. Johnson Name: Michael L. Johnson Title: Corporate Secretary EX-99.1 2 tobipressrelease-september.htm EX-99.1 Document Exhibit 99.1 Automatic Securities Disposition Plan Adopted by Shopify Chief Executive Officer Internet, Everywhere - September 6, 2024 - Shopify Inc. (NYSE, TSX: SHOP), announced today that Tobias Lütke, Shopify’s Chief Executive Officer, has adopted an automatic securities disposition plan (“ ASDP ”), in accordance with securities laws and Shopify’s internal policies, with sales of Class A Subordinate Voting Shares (“ Class A Shares ”) under the plan eligible to commence on or after September 17, 2024. The Ontario Securities Commission issued a decision exempting Mr. Lütke from the prospectus requirements under Canadian securities legislation with respect to sales of Class A Shares under the ASDP. This announcement is made pursuant to the requirements of that decision. Mr. Lütke entered into automatic securities disposition plans under a similar exemption annually from 2017 to 2021. The ASDP permits trades to be made in accordance with pre-arranged instructions given when Mr. Lütke was not in possession of material non-public information regarding Shopify. The ASDP provides for the sale of an aggregate of up to 2,564,964 Class A Shares and will terminate no later than December 31, 2025. All the Class A Shares that could potentially be sold under the ASDP are pursuant to vested options and restricted share units granted to Mr. Lütke as compensation for his services as Chief Executive Officer. The ASDP does not provide for the conversion of any multiple voting shares of the Company owned by Mr. Lütke. About Shopify Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone