Flywire (FLYW) CFO has 18,890 shares withheld to cover RSU tax obligations
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Flywire Corp's Chief Financial Officer, Cosmin Pitigoi, reported a routine tax-related share disposition. On the transaction date, 18,890 shares of Voting Common Stock were withheld by the company at a price of $16.61 per share to cover income tax obligations tied to vested restricted stock units.
The filing specifies this was a net settlement and not an open market sale. After this withholding, Pitigoi directly holds 878,248 shares of Flywire common stock. This type of transaction reflects standard tax withholding mechanics rather than a discretionary decision to sell shares in the market.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Pitigoi Cosmin
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Voting Common Stock | 18,890 | $16.61 | $314K |
Holdings After Transaction:
Voting Common Stock — 878,248 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Shares withheld for taxes: 18,890 shares
Withholding price per share: $16.61 per share
Shares held after transaction: 878,248 shares
+2 more
5 metrics
Shares withheld for taxes
18,890 shares
Tax withholding on RSU vesting
Withholding price per share
$16.61 per share
Value used for tax-withholding disposition
Shares held after transaction
878,248 shares
Direct holdings after tax withholding
Transaction code
F
Payment of tax liability by delivering securities
Transaction type
Tax-withholding disposition
Non-derivative common stock
Key Terms
restricted stock unit awards, net settlement, income tax withholding, tax-withholding disposition, +1 more
5 terms
restricted stock unit awards financial
"in connection with the net settlement of certain time-based restricted stock unit awards"
Restricted stock unit awards are company promises to deliver a specific number of shares to employees or service providers in the future once conditions—such as staying with the company for a set time or meeting performance targets—are met. They matter to investors because when the promises convert into actual shares they increase the total share count and can reduce earnings per share, while also aligning recipients’ interests with stock performance much like deferred pay that turns into ownership if goals are met.
net settlement financial
"in connection with the net settlement of certain time-based restricted stock unit awards"
income tax withholding financial
"withheld by the Issuer to satisfy its income tax withholding and remittance obligations"
tax-withholding disposition financial
"transaction_action: "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Voting Common Stock financial
"security_title: "Voting Common Stock""
FAQ
What insider transaction did Flywire (FLYW) report for CFO Cosmin Pitigoi?
Flywire reported that CFO Cosmin Pitigoi had 18,890 shares of Voting Common Stock withheld for taxes. These shares covered income tax obligations from vested restricted stock units and were not sold in the open market, according to the filing details and accompanying footnote.
Was the Flywire (FLYW) CFO’s Form 4 transaction an open market sale?
No, the Flywire CFO’s Form 4 transaction was not an open market sale. The filing states the 18,890 shares were withheld by the issuer to satisfy income tax withholding and remittance obligations related to restricted stock unit vesting, rather than sold to public market buyers.
What is the nature of the Flywire (FLYW) CFO’s Form 4 tax-withholding transaction?
The Form 4 describes the transaction as a tax-withholding disposition linked to restricted stock units. Shares were withheld by Flywire to meet income tax obligations from net settlement of time-based restricted stock unit awards, a common non-market mechanism for handling equity compensation taxes.