Remitly director sells shares after option exercise
Remitly Global, Inc. director Phillip John Riese exercised stock options and sold shares in a planned transaction.
Rhea-AI Filing Summary
Remitly Global, Inc. director Phillip John Riese exercised stock options and sold shares in a planned transaction. On April 17, 2026, he exercised options covering 40,000 shares of common stock at $0.64 per share and then completed an open-market sale of 40,000 common shares at an average price of $20.04 per share.
The stock option had been fully vested and exercisable since December 15, 2017. Following these transactions, Riese directly held 122,496 shares of Remitly common stock. The filing notes that the sale was executed automatically under a Rule 10b5-1 trading plan adopted on March 11, 2025, and also corrects a prior clerical error in reported beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 40,000 shares ($776K approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Riese Phillip John
Role
Director
Sold
40,000 shs ($802K)
Approx. gross sale proceeds
$802K
Approx. exercise cost
$26K
Approx. pre-tax spread
$776K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 40,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 40,000 | $0.64 | $26K |
| Sale | Common Stock | 40,000 | $20.04 | $802K |
Holdings After Transaction:
Stock Option (right to buy) — 440,000 contracts (Direct);
Common Stock — 122,496 shares (Direct)
Footnotes (3)
- F1. This transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person March 11, 2025.
- F2. The reported amount reflects an adjustment to correct a clerical error in the Reporting Person's previous filings as to the amount of securities beneficially owned.
- F3. The option became fully vested and exercisable on December 15, 2017.
Key Figures
Shares sold: 40,000 shares
Sale price: $20.04 per share
Options exercised: 40,000 shares
+4 more
7 metrics
Shares sold
40,000 shares
Open-market sale of common stock on April 17, 2026
Sale price
$20.04 per share
Average price for 40,000 common shares sold
Options exercised
40,000 shares
Common stock acquired via option exercise
Option exercise price
$0.64 per share
Strike price of exercised stock option
Post-transaction holdings
122,496 shares
Common stock directly held after transactions
10b5-1 plan adoption date
March 11, 2025
Date director adopted Rule 10b5-1 trading plan
Option full vesting date
December 15, 2017
Date option became fully vested and exercisable
Key Terms
Rule 10b5-1 trading plan, Stock Option (right to buy, open-market sale, beneficially owned, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"This transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person March 11, 2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Stock Option (right to buy financial
"Stock Option (right to buy), transaction code M, exercise or conversion of derivative security"
open-market sale financial
"transaction_action: open-market sale, transaction code S, sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
beneficially owned financial
"correct a clerical error in the Reporting Person's previous filings as to the amount of securities beneficially owned"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
What insider transactions did Remitly (RELY) director Phillip John Riese report?
Phillip John Riese reported exercising options for 40,000 Remitly common shares at $0.64 and selling 40,000 common shares at an average price of $20.04 on April 17, 2026, as disclosed in an insider ownership filing.
What stock option exercise did the Remitly (RELY) director complete?
He exercised a stock option covering 40,000 shares of Remitly common stock at a $0.64 exercise price. The option had been fully vested and exercisable since December 15, 2017, meaning it was an older grant being converted into common shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
