Form 4: Flywire Corp Executive David R. King Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Flywire Corp's Chief Technology Officer, David R. King, sold 3,504 shares of common stock on September 5, 2024, at a price of $17.314 per share to cover tax withholding obligations.
Summary
- On September 5, 2024, David R. King, the Chief Technology Officer of Flywire Corp, sold 3,504 shares of the company's common stock.
- The sale was executed at a price of $17.314 per share.
- The transaction was non-discretionary and intended to cover tax withholding obligations related to the settlement of time-based restricted stock units.
- Following the transaction, King directly owns 616,680 shares and indirectly owns 276,204 shares through a revocable trust.
- King disclaims beneficial ownership of the shares held by the D R King Revocable Trust Dated 10/05/07, except to the extent of his pecuniary interests.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the transaction is a routine sale to cover tax obligations and doesn't necessarily reflect a change in the executive's confidence in the company.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives and do not necessarily indicate a negative outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 10/05/07 | Date of the D R King Revocable Trust |
| 09/05/2024 | Date of the stock sale transaction |
| 09/09/2024 | Date of signature on the Form 4 filing |
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