Form 4: Remitly CEO Matthew Oppenheimer Sells Shares Under 10b5-1 Trading Plan

Remitly's CEO, Matthew Oppenheimer, sold a total of 29,166 shares of common stock over two days under a pre-arranged 10b5-1 trading plan.

Summary

• Matthew Oppenheimer, CEO of Remitly Global, Inc., executed sales of company stock on January 22 and 23, 2025.
• These transactions were conducted under a pre-established Rule 10b5-1 trading plan.
• On January 22, 14,583 shares were sold at a weighted average price of $23.14 per share.
• On January 23, another 14,583 shares were sold at a weighted average price of $23.19 per share.
• The total number of shares sold was 29,166.
• Following these transactions, Oppenheimer's direct holdings decreased to 4,373,262 shares.

Sentiment

Score: 5

Explanation: The document reflects a routine stock sale by the CEO under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine filing related to insider trading activity and is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on any material non-public information.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, such as those in the fintech sector like PayPal or Block, to avoid accusations of insider trading.
• The volume of shares sold is relatively small compared to the total outstanding shares of Remitly, which is typical for routine sales under these plans.
• The price range of the sales is within the normal trading range for the stock, indicating no unusual market activity.

Stakeholder Impact

• The stock sales may have a minor impact on the stock price, but the use of a 10b5-1 plan suggests that the sales were pre-planned and not based on any material non-public information.

Key Dates

Keywords

Remitly, Matthew Oppenheimer, stock sale, 10b5-1 trading plan, insider trading, RELY