Remitly CEO Sebastian Gunningham Withholds 22,809 Shares for Taxes

What Happened

Sebastian J. Gunningham, CEO of Remitly Global, Inc. (RELY), had 22,809 shares withheld to satisfy tax withholding obligations tied to the vesting of restricted stock units. The shares were valued at $26.59 each, for a total cash-equivalent of approximately $606,491. The Form 4 lists the transaction as a disposition (code F), meaning shares were retained by the company or transferred to cover taxes rather than sold on the open market.

Key Details

• Transaction date: 2026-08-25; Filing date: 2026-08-26 (timely filing).
• Shares affected: 22,809; Price per share: $26.59; Total value: ~$606,491.
• Transaction code: F (tax withholding in connection with RSU vesting).
• Footnote F1: Confirms shares were withheld to satisfy tax withholding obligations on vested RSUs.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• No 10b5-1 plan or late-filing indication in the provided information.

Context

Withholding shares to cover taxes on vested RSUs is a common, routine administrative action and does not necessarily signal the insider's market view. Unlike open-market purchases, these dispositions often reflect tax obligations rather than a decision to realize gains. Purchases or open-market sales typically carry more direct informational value about insider sentiment.