RELY (NASDAQ: RELY) Form 144 lists 9.2M and 5.28M converted shares

Rhea-AI Filing Summary

RELY submitted a Form 144 reporting proposed sales of Common Stock in connection with previously converted preferred shares. The filing lists securities acquired upon conversion on 09/27/2021: 9,200,385 shares (originally acquired November 2017, excluding 11,900,000 shares sold in May 2025) and 5,275,096 shares (originally acquired December 2017).

The notice names BofA Securities, Inc. and references Nasdaq trading; timing and aggregate sale mechanics are set by the Form 144 process.

Insights

Securities Counsel

Form 144 notifies broker and SEC of proposed resale of converted preferred shares.

The filing documents that the offered shares derive from convertible Series D preferred stock converted on 09/27/2021, listing 9,200,385 and 5,275,096 shares acquired on those conversions. It also notes 11,900,000 shares were sold in May 2025.

Execution depends on Rule 144 resale conditions and broker procedures; subsequent filings will report completed transactions.

Equity Markets Analyst

Large block quantities from prior conversions are being positioned for resale.

The notice shows sizable converted-share lots: 9,200,385 and 5,275,096, which represent potential supply into the market if sold. The excerpt names BofA Securities, Inc. as broker on the filing.

Actual market impact depends on how and when sales occur and whether Rule 144 conditions are met; trading outcomes will be visible in subsequent transaction reports.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	BofA Securities, Inc. One Bryant Park 8th Floor New York NY 10036	12000000	203760000	210654386	03/12/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	09/27/2021	Acquired upon Conversion of Series D Convertible Preferred Stock of the Issuer, which preferred stock was acquired in November 2017 (9,200,385 shares, excluding 11,900,000 shares sold in May 2025).	Issuer			9200385	09/27/2021	Conversion of Preferred Stock
Common Stock	09/27/2021	Acquired upon Conversion of Series D Convertible Preferred Stock of the Issuer, which preferred stock was acquired in December 2017 (5,275,096 shares).	Issuer			5275096	09/27/2021	Conversion of Preferred Stock

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does RELY's Form 144 report?

The Form 144 reports proposed sales of Common Stock derived from converted Series D preferred shares. It lists conversions on 09/27/2021 totaling 9,200,385 and 5,275,096 shares and notes prior sales of 11,900,000 shares in May 2025.

Who is the broker named on the Form 144 for RELY?

The filing names BofA Securities, Inc. as the broker. The broker is the party through which the proposed resale is to be effected under Rule 144 notice procedures.

Are the shares listed in RELY's Form 144 newly issued?

No. The shares were acquired upon conversion of Series D preferred stock on 09/27/2021. The filing shows converted shares from original preferred acquisitions in 2017.

Does the Form 144 state how many shares will be sold immediately?

The excerpt lists converted-share quantities and prior May 2025 sales but does not specify an aggregate number being offered for immediate sale in this filing. Execution details will appear in subsequent transaction reports.

Will RELY receive proceeds from the sales noted in Form 144?

The Form 144 excerpt identifies the filing as a resale notice for converted shares; it does not state the cash‑flow treatment or whether the issuer receives proceeds. Cash‑flow treatment is not specified in the provided excerpt.