Nigel W. Morris - Sep 27, 2021 Form 4 Insider Report for Remitly Global, Inc. (RELY)

Role
Director
Signature
/s/ Saema Somalya as attorney-in-fact
Stock symbol
RELY
Transactions as of
Sep 27, 2021
Transactions value $
-$73,745,000
Form type
4
Date filed
9/27/2021, 05:25 PM
Previous filing
Sep 22, 2021
Next filing
Oct 12, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RELY Common Stock Conversion of derivative security +1.35M +390.97% 1.69M Sep 27, 2021 By QED Fund II, L.P. F1, F2
transaction RELY Common Stock Conversion of derivative security +852K +50.29% 2.55M Sep 27, 2021 By QED Fund II, L.P. F1, F2
transaction RELY Common Stock Conversion of derivative security +734K +28.83% 3.28M Sep 27, 2021 By QED Fund II, L.P. F1, F2
transaction RELY Common Stock Sale -$73.7M -1.72M -52.29% $43.00 1.56M Sep 27, 2021 By QED Fund II, L.P. F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RELY Series A Preferred Stock Conversion of derivative security $0 -1.35M -100% $0.00* 0 Sep 27, 2021 Common Stock 1.35M By QED Fund II, L.P. F1, F2
transaction RELY Series B Preferred Stock Conversion of derivative security $0 -852K -100% $0.00* 0 Sep 27, 2021 Common Stock 852K By QED Fund II, L.P. F1, F2
transaction RELY Series C Preferred Stock Conversion of derivative security $0 -734K -100% $0.00* 0 Sep 27, 2021 Common Stock 734K By QED Fund II, L.P. F1, F2
transaction RELY Restricted Stock Units (RSUs) Award $0 +30K $0.00 30K Aug 12, 2021 Common Stock 30K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of the issuer's Series Seed, Series Seed Prime, Series A, Series B, Series C, Series D, Series E and Series F Preferred Stock automatically converted into one (1) share of the issuer's Common Stock on September 27, 2021 in connection with the closing of the issuer's sale of its Common Stock in its firm commitment initial public offering pursuant to a registration statement on Form S-1 (File No. 333-259167) under the Securities Act of 1933, as amended, and had no expiration date.
F2 These securities are held of record by QED Fund II, L.P. ("QED LP"), which is managed by QED Partners II, LLC ("QED LLC"). Nigel Morris, a director of the issuer, is the managing partner of QED LLC and may be deemed to have sole voting and dispositive control over the shares held by QED LP. Mr. Morris disclaims beneficial ownership of the shares held by QED LP, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
F3 Each RSU represents a contingent right to receive one (1) share of the issuer's Common Stock upon settlement.
F4 The RSUs vest as to 1/16th of the total shares underlying the RSUs on November 25, 2021 and then 1/16th of the total shares vest on each February 25, May 25, August 25 and November 25 thereafter, with 100% of the total shares underlying the RSUs vested on August 25, 2025, subject to the reporting person's provision of service to the issuer on each vesting date.