Sharma Pankaj 4
4 · Remitly Global, Inc. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Remitly (RELY) CBO Pankaj Sharma Receives RSUs; Shares Withheld
What Happened Pankaj Sharma, Chief Business Officer of Remitly Global (RELY), had RSUs vest and convert into common stock on 2026-02-25. A total of 35,714 shares were issued on conversion (31,248 + 1,543 + 2,923). To cover tax withholding obligations, 14,246 of those shares were surrendered (12,461 + 617 + 1,168) at an implied withholding price of $16.19 per share, resulting in $230,643 paid to satisfy the tax liability. The RSU-to-share conversions are reported as derivative exercises (code M) and the share surrenders for taxes as payments of tax liability (code F).
Key Details
- Transaction date: February 25, 2026; Form 4 filed February 27, 2026 (timely).
- Shares issued on settlement (acquired): 35,714 total.
- Shares withheld for taxes (disposed): 14,246 total; withholding proceeds $230,643 (at $16.19/share).
- Derivative entries showing $0.00 disposal reflect RSU settlement into common stock.
- Footnotes indicate multiple RSU awards and vesting schedules; Table I reports holdings including 237,298 shares of common stock and several unvested RSU balances referenced in the footnotes (e.g., 428,580 and 23,384 unvested RSUs as noted).
- Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = payment of tax liability via share withholding.
Context This was a routine RSU vesting and tax-withholding transaction, not an open-market sale or purchase. Share withholding to cover taxes is standard practice (similar to a "sell-to-cover") and does not necessarily indicate a change in the insider’s view of the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-25+31,248→ 247,078 total - Tax Payment
Common Stock
2026-02-25$16.19/sh−12,461$201,744→ 234,617 total - Exercise/Conversion
Common Stock
[F1][F2]2026-02-25+1,543→ 236,160 total - Tax Payment
Common Stock
2026-02-25$16.19/sh−617$9,989→ 235,543 total - Exercise/Conversion
Common Stock
[F1][F2]2026-02-25+2,923→ 238,466 total - Tax Payment
Common Stock
[F3]2026-02-25$16.19/sh−1,168$18,910→ 665,878 total - Exercise/Conversion
Restricted Stock Units (RSUs)
[F2][F4]2026-02-25−31,248→ 0 total→ Common Stock (31,248 underlying) - Exercise/Conversion
Restricted Stock Units (RSUs)
[F2][F5]2026-02-25−1,543→ 0 total→ Common Stock (1,543 underlying) - Exercise/Conversion
Restricted Stock Units (RSUs)
[F2][F6][F7]2026-02-25−2,923→ 0 total→ Common Stock (2,923 underlying)
Footnotes (7)
- [F1]Reflects the vesting of RSUs.
- [F2]Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
- [F3]The reporting person has reported prior awards of RSUs in Table II. The total reported in Table I, Column 5, includes 428,580 unvested RSUs previously reported in Table II and 237,298 shares of common stock.
- [F4]The RSUs vested as to 1/4 of the total shares underlying the RSUs on May 25, 2025, and then 1/4 of the total shares vest quarterly thereafter, subject to the reporting person's provision of service to the Issuer on each vesting date.
- [F5]The RSUs vested as to 1/4 of the total shares underlying the RSUs on May 25, 2025, and then 1/4 of the total shares vest quarterly thereafter, subject to the reporting person's provision of service to the Issuer on each vesting date.
- [F6]The RSUs vested as to 1/12 of the total shares underlying the RSUs on May 25, 2025, and then 1/12 of the total shares vest quarterly thereafter, subject to the reporting person's provision of service to the Issuer on each vesting date.
- [F7]The total reported in Table I, Column 5, includes 23,384 unvested RSUs remaining under this RSU award previously reported in Table II.