Riese Phillip John 4
4 · Flywire Corp · Filed Jun 4, 2026
Research Summary
AI-generated summary of this filing
Flywire (FLYW) Director Riese Sells Shares, Exercises Options
What Happened
Director Phillip John Riese exercised 5,000 options on June 2, 2026 at an exercise price of $0.59 per share (cost $2,950) and sold 5,000 shares in open-market transactions the same day — 4,800 shares at a weighted avg. $15.39 ($73,894) and 200 shares at a weighted avg. $16.18 ($3,237), for total proceeds of ~$77,131. The filing also reports receipt of a restricted stock unit award for 11,558 shares (no cash value) that vests by June 2, 2027 (or at the next annual meeting) and will accelerate on a change in control or upon death/disability. The optioned shares are noted as fully vested.
Key Details
- Transaction date: June 2, 2026; Form 4 filed June 4, 2026 (appears timely).
- Option exercise: 5,000 shares at $0.59 each; total cost $2,950.
- Open-market sales: 4,800 shares @ weighted $15.39 = $73,894; 200 shares @ weighted $16.18 = $3,237; combined proceeds ~$77,131. Sales executed under a previously adopted Rule 10b5-1 trading plan (F1).
- RSU grant: 11,558 restricted stock units, $0 purchase price; vesting on earlier of June 2, 2027 or next annual meeting, accelerates on change in control or death/disability (F4).
- Option status: shares subject to the option are fully vested (F5).
- Weighted-price ranges: sales prices reported as ranges ($15.09–$15.88 and $16.155–$16.21) — reporting person can provide per-price breakouts on request (F2, F3).
- Shares owned after the transactions: not specified in the provided filing excerpt.
Context
This is director-level activity (not a 10% owner). The pattern — exercising options at a low strike and selling shares the same day under a 10b5-1 plan — is commonly used to cover exercise costs and tax liabilities. The RSU award vests in the future and may not reflect immediate sell/buy intent. All details and footnotes are in the SEC Form 4 filing (accession 0001193125-26-257748) for investors who want the complete record.
Insider Transaction Report
- Exercise/Conversion
Voting Common Stock
2026-06-02$0.59/sh+5,000$2,950→ 239,493 total - Sale
Voting Common Stock
[F1][F2]2026-06-02$15.39/sh−4,800$73,894→ 234,693 total - Sale
Voting Common Stock
[F1][F3]2026-06-02$16.18/sh−200$3,237→ 234,493 total - Award
Voting Common Stock
[F4]2026-06-02+11,558→ 246,051 total - Exercise/Conversion
Stock Option (right to buy)
[F5]2026-06-02−5,000→ 48,000 totalExercise: $0.59Exp: 2026-12-14→ Voting Common Stock (5,000 underlying)
Footnotes (5)
- [F1]Shares were sold pursuant to a previously adopted Rule 10b5-1 trading plan.
- [F2]Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $15.09 to $15.88. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F3]Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $16.155 to $16.21. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F4]Represents a restricted stock unit award that vests on the earlier of (a) June 2, 2027, and (b) the Issuer's next annual meeting of stockholders, provided that the Reporting Person has provided continuous service to the Issuer through such date. In addition, the restricted stock unit award will accelerate and fully vest upon a change in control, or the Reporting Person's earlier death or disability.
- [F5]The shares subject to this option are fully vested.