Remitly (RELY) Director Phillip Riese Exercises Options, Sells 69,818 Shares

What Happened

• Phillip John Riese, a director of Remitly Global, exercised 69,818 stock options on August 12, 2026 at an exercise price of $0.64 (cost ~$44,684) and sold the resulting 69,818 shares the same day in two open-market transactions for total proceeds of about $1,643,814 (40,000 shares and 29,818 shares). The back-to-back exercise and sale indicate the shares were converted and immediately sold.

Key Details

• Transaction date: 2026-08-12.
• Exercise/acquisition: 69,818 shares @ $0.64 each — total cash paid ~$44,684.
• Sales: 40,000 shares @ weighted avg ~$23.54 (proceeds $941,600); 29,818 shares @ weighted avg ~$23.55 (proceeds $702,214). Combined proceeds ≈ $1,643,814.
• Footnotes: Sales executed in multiple trades — reported weighted-price ranges were $23.50–$23.63 and $23.50–$23.56; the filer can provide per-trade pricing on request. The option became fully vested and exercisable on Dec 15, 2017.
• Shares owned after the transactions: not reported in this filing.

Context

• This was an option exercise followed by immediate sales (a common cashless exercise/sale pattern to cover exercise cost and taxes). Sales by directors are often routine and do not by themselves indicate a change in company outlook.