Form 4: Repay Holdings Director Sells Shares

Repay Holdings Director Richard E. Thornburgh sold 4,500 shares of Class A Common Stock for $3.5 per share to satisfy 401(k) plan liquidation requirements.

Summary

• Richard E. Thornburgh, a Director of Repay Holdings Corp. (RPAY), reported a transaction involving the company's Class A Common Stock.
• On November 17, 2025, Mr. Thornburgh sold 4,500 shares of Class A Common Stock.
• The shares were sold at a price of $3.5 per share.
• Following this transaction, Mr. Thornburgh beneficially owns 131,456 shares of Class A Common Stock directly.
• The sale was conducted to satisfy mandatory liquidation requirements of his self-directed 401(k) plan in connection with a rollover.

Sentiment

Score: 5

Explanation: The sale of shares by a director is generally viewed with slight caution, but the explicit reason (mandatory 401(k) liquidation for a rollover) mitigates any negative implications, making the overall sentiment neutral.

Negatives

• A director selling shares, even for a stated reason, can sometimes be viewed with caution by investors.

Risks

• No new risks are introduced by this filing beyond the general perception of insider sales.

Future Outlook

N/A. This Form 4 filing reports a past insider transaction and does not contain forward-looking statements or guidance regarding the company's future performance.

Management Comments

• Shares sold to satisfy mandatory liquidation requirements of the reporting person's self-directed 401(k) plan in connection with a rollover.

Industry Context

This filing is specific to an insider transaction at Repay Holdings Corp. and does not provide broader industry context or trends. Insider transactions are common across all industries and are typically evaluated based on the specific circumstances and volume.

Stakeholder Impact

• Shareholders: The sale of 4,500 shares by a director represents a very small fraction of the company's outstanding shares and is unlikely to have a material impact on the company's valuation or share price, especially given the stated reason. However, some investors may view any insider sale with caution.

Key Dates

Keywords

Repay Holdings, RPAY, Form 4, Insider Transaction, Stock Sale, Director, Richard E. Thornburgh, 401(k) rollover, Equity Securities