Sharma Pankaj 4

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.