Sezzle (SEZL) 10% Owner Charles Youakim Relinquishes 1.51M Shares

What Happened
Charles Youakim, listed as a 10% owner of Sezzle Inc. (SEZL), reported a disposition of 1,508,454 shares effective September 2, 2026. The Form 4 shows a transaction coded as "J" (other acquisition/disposition) with no price reported (N/A). According to the filing, a Minnesota family court divorce decree caused Mr. Youakim to cease having voting or dispositive power over these shares; no shares were transferred by him and the change is exempt under Rule 16a-12.

Key Details

• Transaction date: 2026-09-02; Filing date (Form 4): 2026-09-14 (filed late; transactionTimeliness = 'L'; 12 days after the event).
• Transaction type/code: Other disposition (Code J); price: N/A.
• Shares affected: 1,508,454 shares that he no longer beneficially owns per the court decree.
• Footnote: Change resulted from a stipulated judgment and decree in the Family Court Division, Fourth Judicial District, State of Minnesota; reported voluntarily by Mr. Youakim.
• Rule/exemption: Change reported as exempt under Rule 16a-12.

Context

• This is not an open-market sale or purchase — it's a legal change in beneficial ownership stemming from a divorce proceeding. Such transfers/exemptions typically do not signal insider trading intent and shouldn't be read as a vote of confidence or negative view on the company.
• As a 10% owner rather than a corporate officer trading on company information, the filing documents a legal ownership change rather than routine executive trading activity.