Shopify CEO Tobias Lütke announces plan to sell Class A shares

Led by Tobias Lütke, Shopify (NASDAQ: SHOP, TSX: SHOP) announced today a planned automatic securities disposition initiated by CEO Lütke, aimed at selling his holdings of Class A subordinate voting shares. The plan also includes the sale of shares indirectly held through 7910240 Canada Inc. controlled by Lütke and the Thistledown Foundation. This comprehensive plan updates the previous securities disposition plan set to expire on December 31, 2025, and is formulated in accordance with securities laws and Shopify’s internal policies. Under the plan, stock sales could commence as early as March 18, 2026. On December 8, 2025, the Ontario Securities Commission made a decision exempting Lütke from the prospectus requirement under Canadian securities law, which is reflected in this announcement. Lütke has previously received similar exemptions annually from 2017 to 2021 and again in 2024.

Under the plan, sales will be based on pre-specified instructions issued by Lütke when he does not possess material non-public information about Shopify. The total number of Class A shares planned for sale is 1,987,032, with the plan expected to conclude by December 31, 2026. Shares available for sale may include Class A shares directly or indirectly held by Lütke, Class A shares converted from B-class restricted multiple voting shares, and shares issued through options and restricted stock units granted as part of his compensation as CEO.

Shopify provides essential internet infrastructure for businesses, supporting millions of users—from startups to global brands—through its integrated platform to start, operate, and grow their businesses. Currently, companies in over 175 countries conduct online and offline sales via Shopify, with notable brands including Aldo and BarkBox.