The Globe and Mail reports in its Tuesday edition that Shopify chief executive officer Tobias Lütke could earn proceeds worth hundreds of millions of dollars by selling company stock this year, and has already filed to sell tens of millions of dollars' worth this month, filings show. The Globe's Irene Galea writes that on Friday, the e-commerce company said that Mr. Lütke had entered into an automatic securities disposition plan to sell up to 1,987,032 Class A subordinate voting shares, held both directly and indirectly. Shopify shares traded at $176.78 on the Toronto Stock Exchange at the end of the day Friday. If all sold at that price, those shares would generate gross proceeds of roughly $350-million. Also on Friday, Mr. Lütke informed the U.S. Securities and Exchange Commission that he intends to sell several blocks of shares over the next three months, starting on the estimated date of March 18, the first eligible day under the new plan. Some of these shares come from recently vested share units, and others were gifts. These blocks, representing about 720,000 total shares which Mr. Lütke obtained at various price points, were worth about $117.4-million. Shopify shares are up 32 per cent in the past 12 months.