Form 4: Flywire CEO Michael Massaro Sells Shares to Cover Tax Obligations

Flywire Corp CEO Michael Massaro sold shares of common stock to cover tax withholding obligations related to the settlement of restricted stock units.

Summary

• On September 5, 2024, Michael Massaro, the CEO of Flywire Corp, sold 7,646 shares of Voting Common Stock at a price of $17.314 per share.
• The sale was executed to cover tax withholding obligations upon the settlement of time-based restricted stock unit awards.
• Following the transaction, Massaro directly owns 1,731,705 shares of Voting Common Stock.
• Massaro also indirectly owns 307,548 shares through the Michael P. Massaro 2021 Irrevocable Trust, where his spouse is a trustee; he disclaims beneficial ownership of these shares except to the extent of any pecuniary interest.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover tax obligations). It doesn't indicate any significant positive or negative sentiment.

Industry Context

This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when restricted stock units vest.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholders, but it is unlikely to be significant given the relatively small number of shares sold.

Key Dates