Form 4: Flywire CEO Michael Massaro Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Flywire CEO Michael Massaro disposed of 54,145 shares to cover income tax withholding obligations related to the settlement of restricted stock units.
Summary
- On March 3, 2025, Flywire CEO Michael Massaro disposed of 54,145 shares of Voting Common Stock to satisfy income tax withholding obligations.
- The transaction was not an open market sale, but rather a withholding by the issuer.
- The price per share was $10.76.
- Following the transaction, Massaro directly owns 1,152,864 shares.
- Massaro also has indirect ownership through the Meredith E. Massaro Revocable Trust (657,236 shares) and the Michael P. Massaro 2021 Irrevocable Trust (307,548 shares), for which his spouse is a trustee.
- Massaro disclaims beneficial ownership of the shares held in the trusts, except to the extent of any pecuniary interest.
Sentiment
Score: 5
Explanation: This is a neutral event. The share disposal is related to tax obligations and doesn't necessarily reflect a change in the CEO's confidence in the company.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to dispose of shares to cover taxes associated with the vesting of stock awards.
Key Dates
| Date | Description |
|---|---|
| 2017-11-01 | Date of the Meredith E. Massaro Revocable Trust |
| 2021 | Year of the Michael P. Massaro Irrevocable Trust |
| 2025-03-03 | Date of the share disposal transaction |
| 2025-03-05 | Date of signature on the Form 4 filing |
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