Joshua Hug - Aug 25, 2023 Form 4 Insider Report for Remitly Global, Inc. (RELY)

Role
Chief Operating Officer, Director
Signature
/s/ Saema Somalya as attorney-in-fact
Stock symbol
RELY
Transactions as of
Aug 25, 2023
Transactions value $
-$720,198
Form type
4
Date filed
8/29/2023, 07:33 PM
Previous filing
Jul 26, 2023
Next filing
Nov 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RELY Common Stock Options Exercise +29.1K +0.72% 4.08M Aug 25, 2023 Direct F1
transaction RELY Common Stock Tax liability -$171K -6.86K -0.17% $24.90 4.08M Aug 25, 2023 Direct
transaction RELY Common Stock Sale -$549K -22.3K -0.55% $24.67 4.05M Aug 28, 2023 Direct F2, F3
holding RELY Common Stock 300K Aug 25, 2023 By Trust F4

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 -29.1K -14.72% $0.00 169K Aug 25, 2023 Common Stock 29.1K Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 This transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
F3 Weighted average price. These shares were sold in multiple transactions at prices ranging from $24.59 to $24.73 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
F4 The securities are held by a family trust, of which the reporting person's spouse is the trustee.
F5 On May 23, 2022, the reporting person was granted 262,445 RSUs that vest as follows: 10,109 shares on May 25, 2022, 10,109 shares on August 25, 2022, 10,110 on November 25, 2022, 10,110 shares on February 25, 2023, 24,115 shares on May 25, 2023, 29,130 shares on August 25, 2023, 29,131 shares on November 25, 2023, 29,131 shares on February 25, 2024, 27,625 shares on May 25, 2024, 27,625 shares on August 25, 2024, 27,625 shares on November 25,2024, and 27,625 shares on February 25, 2025 with 100% of the total shares vested on February 25, 2025, subject to the reporting person's provision of service to the issuer on each vesting date.