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 June 5, 2024, Michael Massaro, CEO of Flywire Corp, sold 7,631 shares of Voting Common Stock at a price of $16.691 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 1,746,882 shares of Voting Common Stock.
• Massaro also has indirect ownership of 307,548 shares held by the Michael P. Massaro 2021 Irrevocable Trust, of which his spouse is a trustee; he disclaims beneficial ownership of these shares except to the extent of any pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing related to a share sale for tax purposes. It doesn't inherently indicate positive or negative sentiment, but such sales can sometimes be perceived negatively if they are large or frequent.

Industry Context

Sales of shares by company executives are a common occurrence, often related to compensation and tax obligations. Investors typically monitor these transactions for insights into management's perspective on the company's value and future prospects.

Stakeholder Impact

• The share sale has a minimal impact on shareholders as it is a small percentage of the CEO's holdings and is for tax purposes.

Key Dates