Form 4: Flywire CEO Michael Massaro Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Flywire CEO Michael Massaro sold shares of company stock to cover tax withholding obligations related to the settlement of restricted stock units.
Summary
- On March 4th and 5th, 2024, Michael Massaro, CEO of Flywire Corp, sold shares of Flywire's voting common stock.
- The sales were executed at prices of $27.30 and $27.175 per share, respectively.
- These transactions were non-discretionary and intended to cover tax withholding obligations upon the settlement of time-based restricted stock unit awards.
- Following these transactions, Massaro directly owns 1,735,388 shares of Flywire's voting common stock.
- Massaro also has indirect ownership of 337,440 shares held by the Michael P. Massaro 2021 Irrevocable Trust, for which he disclaims beneficial ownership except to the extent of any pecuniary interests.
Sentiment
Score: 5
Explanation: The document describes routine stock sales to cover tax obligations, which is neutral in sentiment.
Industry Context
Sales of stock to cover tax obligations are a routine part of executive compensation and are not necessarily indicative of the executive's view of the company's future prospects.
Key Dates
| Date | Description |
|---|---|
| 03/04/2024 | Michael Massaro sold 28,822 shares of Flywire stock at $27.30 per share. |
| 03/05/2024 | Michael Massaro sold 7,644 shares of Flywire stock at $27.175 per share. |
| 03/06/2024 | Date of Form 4 filing. |
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