Form 4: Flywire CEO Michael Massaro Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Flywire Corp CEO Michael Massaro sold 8,698 shares of voting common stock on June 3, 2024, to cover tax withholding obligations.
Summary
- On June 3, 2024, Michael Massaro, the CEO of Flywire Corp, sold 8,698 shares of voting common stock at a price of $16.949 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 1,754,513 shares of Flywire Corp.
- Massaro also has indirect ownership of 307,548 shares held by the Michael P. Massaro 2021 Irrevocable Trust, for which 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 (stock sale for tax obligations) and doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Sales of shares to cover tax obligations are a common practice among executives who receive stock-based compensation. This transaction is a routine financial activity and doesn't necessarily indicate a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 06/03/2024 | Date of the stock sale transaction. |
| 06/05/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.