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

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

Summary

• On September 3, 2024, Michael Massaro, the CEO of Flywire Corp, sold 8,629 shares of Voting Common Stock at a price of $18.043 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 1,739,351 shares of Voting Common Stock and indirectly owns 307,548 shares through the Michael P. Massaro 2021 Irrevocable Trust.
• Massaro also acquired 1,098 shares under the Issuer's Employee Stock Purchase Plan.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares for tax obligations) and doesn't inherently indicate positive or negative sentiment.

Positives

• The CEO's participation in the Employee Stock Purchase Plan indicates confidence in the company's future.

Industry Context

Sales of shares to cover tax obligations are a common practice among executives who receive stock-based compensation.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder sentiment, although it is a common practice.

Key Dates