Flywire (FLYW) Director Phillip Riese Exercises Options, Sells Shares

What Happened
Phillip John Riese, a director of Flywire Corp (FLYW), exercised stock options and sold common shares on 2026-08-07. He exercised options to acquire 48,000 shares at $0.59 per share (total cost $28,320). He sold 36,000 shares in open-market transactions at a weighted average price of $18.22 per share, generating $656,032 in proceeds. The filing also reports a disposition of 48,000 shares at $0.00 in connection with the derivative transaction (see Key Details).

Key Details

• Transaction date: 2026-08-07; Form 4 filed 2026-08-11 (4 days after the transaction date).
• Option exercise (code M): 48,000 shares acquired at $0.59; total exercise cost $28,320. Footnote F2: the option shares were fully vested.
• Open-market sale (code S): 36,000 shares sold at a weighted average price of $18.22, total proceeds $656,032. Footnote F1: sale prices ranged from $18.200 to $18.285; the reporting person can provide a breakdown on request.
• Derivative conversion/disposition: 48,000 shares reported as disposed at $0.00 (reported as a derivative transaction).
• Shares owned after the transactions: not reported in the provided data.
• No 10b5-1 plan, tax-withholding, or other plan notation was provided in the summary data.

Context
The filing shows an option exercise paired with same-day share sales, which is a common pattern when insiders exercise options and monetize part of the position (often referred to as a cashless exercise). The zero-dollar disposition entry typically reflects conversion/settlement mechanics (e.g., shares surrendered to cover exercise costs or tax withholding), but the Form 4 footnotes are the best source for precise mechanics. This report is factual disclosure of insider activity and does not, by itself, indicate the director's future view of the company.