Massaro Michael 4

What Happened
Michael Massaro, CEO of Flywire Corp (FLYW), sold a total of 125,000 shares in two open-market transactions executed under a previously adopted Rule 10b5-1 trading plan. On July 16, 2026 he sold 92,672 shares at a weighted-average price of $18.62 for proceeds of $1,725,729 (shares sold across prices from $18.48 to $18.915). On July 17, 2026 he sold 32,328 shares at a weighted-average price of $18.20 for proceeds of $588,295 (shares sold across prices from $18.06 to $18.585). Total proceeds were approximately $2,314,024. These were sales (not purchases), often routine when done under pre-set plans.

Key Details

• Transaction dates and prices:
  • 2026-07-16: 92,672 shares sold, weighted avg $18.62; per filing prices ranged $18.48–$18.915 (Footnote F2).
  • 2026-07-17: 32,328 shares sold, weighted avg $18.20; per filing prices ranged $18.06–$18.585 (Footnote F3).
• Total shares sold: 125,000; total proceeds ≈ $2,314,024.
• Plan: Sales were made pursuant to a previously adopted Rule 10b5-1 trading plan (Footnote F1).
• Trust holdings: Some shares reported in the filing are held in trusts (M Massaro Trust and Michael P. Massaro 2021 Irrevocable Trust); Massaro disclaims beneficial ownership of those trust-held shares (Footnotes F4 & F5).
• Filing timeliness: Form 4 was filed on 2026-07-20 for transactions dated 2026-07-16 and 07-17 — filed within the required two-business-day window (not late).
• Shares owned after transaction: Not disclosed in the provided excerpt.

Context

• Sales under 10b5-1 plans are pre-arranged and legally permit insiders to sell shares on a set schedule; they are commonly viewed as routine or for diversification/liquidity rather than a direct signal of sentiment.
• No options, awards, gifts, or tax-withholding events are reported in the provided transactions.