Phillip John Riese - Nov 25, 2022 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
Nov 25, 2022
Transactions value $
$0
Form type
4
Date filed
11/29/2022, 07:43 PM
Previous filing
Oct 31, 2022
Next filing
Dec 27, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RELY Common Stock Options Exercise +5.81K +12.12% 53.7K Nov 25, 2022 Direct F1
transaction RELY Common Stock Options Exercise +1.46K +2.71% 55.2K Nov 25, 2022 Direct F1

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 Restricted Stock Units (RSUs) Options Exercise $0 -5.81K -8.72% $0.00 60.8K Nov 25, 2022 Common Stock 5.81K Direct F1, F2
transaction RELY Restricted Stock Units (RSUs) Options Exercise $0 -1.46K -2.4% $0.00 59.3K Nov 25, 2022 Common Stock 1.46K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each RSU represents a contingent right to receive one (1) share of the issuer's Common Stock upon settlement.
F2 The RSUs were granted with both (a) a liquidity event-based vesting condition and (b) a service-based vesting condition, both of which must be satisfied in order for the RSUs to vest. The liquidity event-based vesting event was satisfied on September 22, 2021 the effective date of the issuer's initial public offering. The service-based vesting event was satisfied as to 1/16th of the total shares underlying the RSUs on November 25, 2020 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, 2024, subject to the reporting person's provision of service to the issuer on each vesting date.
F3 The RSUs vest on the earlier of (1) four equal quarterly installments on August 25, 2022, November 25, 2022, February 25, 2023, and May 25, 2023, and (2) the issuer's next annual meeting of stockholders following the grant date, subject to the reporting person's provision of service to the issuer through each applicable date.