Ryvyl Executive Stock Activity: CFO Retains Majority of Vested RSU Grant

Rhea-AI Filing Summary

Ryvyl's Chief Financial Officer George Oliva reported a Form 4 filing on June 28, 2025, disclosing a transaction dated June 20, 2025. The transaction involved the withholding of 25,619 shares of common stock at a weighted average price of $0.72 per share (range: $0.70-$0.73) to cover tax liabilities.

The shares were withheld in connection with the vesting of restricted stock units that were previously awarded on April 8, 2025. Following this transaction, Oliva directly owns 254,933 shares of Ryvyl common stock.

• Transaction Code: F (Payment of exercise price or tax liability using portion of securities received)
• Ownership Type: Direct
• Filing Type: Single reporting person

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Oliva George

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock par value $0.001	25,619	$0.72	$18K

Holdings After Transaction: Common Stock par value $0.001 — 254,933 shares (Direct)

Footnotes (1)

1. Represents withholding of shares of common stock for the tax liability associated with the vesting of a portion of the restricted stock units awarded on April 8, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.70 to $0.73, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in (2) to this Form 4.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Oliva George

(Last) (First) (Middle)

3131 CAMINO DEL RIO NORTH, SUITE 1400

(Street)

SAN DIEGO CA 92108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RYVYL Inc. [ RVYL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock par value $0.001(1)	06/20/2025		F		25,619	D	$0.72(2)	254,933	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents withholding of shares of common stock for the tax liability associated with the vesting of a portion of the restricted stock units awarded on April 8, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.70 to $0.73, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in (2) to this Form 4.

	/s/ Jasmine Farrington, Attorney-in-fact	06/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many shares did RVYL CFO George Oliva dispose of on June 20, 2025?

RVYL CFO George Oliva disposed of 25,619 shares of common stock on June 20, 2025, through a tax withholding transaction (Form Code 'F') related to the vesting of restricted stock units.

What was the price of RVYL shares sold in the CFO's June 20, 2025 transaction?

The shares were sold at a weighted average price of $0.72 per share, with transactions ranging from $0.70 to $0.73 per share.

How many RVYL shares does CFO George Oliva own after the June 20, 2025 transaction?

Following the reported transaction, CFO George Oliva directly owns 254,933 shares of RVYL common stock.

Why did RVYL CFO George Oliva sell shares on June 20, 2025?

The share disposal was not a direct sale but rather a withholding of shares to cover tax liability associated with the vesting of restricted stock units that were awarded on April 8, 2025.

What is the source of RVYL CFO's disposed shares in the June 2025 Form 4?

The disposed shares came from restricted stock units (RSUs) that were awarded to George Oliva on April 8, 2025, and the shares were withheld for tax purposes upon vesting of these RSUs.