Bora Chung - 22 Sep 2021 Form 3 Insider Report for Remitly Global, Inc. (RELY)

Role
Director
Signature
/s/ Saema Somalya as attorney-in-fact
Issuer symbol
RELY
Transactions as of
22 Sep 2021
Transactions value $
$0
Form type
3
Filing time
22 Sep 2021, 18:05:13 UTC
Previous filing
20 Sep 2021
Next filing
19 Oct 2021
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding RELY Restricted Stock Units (RSUs) 22 Sep 2021 Common Stock 92,941 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The RSUs were granted with both (a) a liquidity event-based vesting condition and (b) a service-based vesting condition, both of which must be satisfied in order for the RSUs to vest. The liquidity event-based vesting event was satisfied on September 22, 2021, the effective date of the issuer's initial public offering. The service-based vesting event will be satisfied as to 1/4th of the total shares underlying the RSUs on November 25, 2021 and then 1/16th of the total number of shares vest quarterly on each February 25, May 25, August 25 and November 25 thereafter, with 100% of the total shares underlying the RSUs vested on November 25, 2024, subject to the reporting person's provision of service to the issuer on each vesting date.
F2 Each RSU represents a contingent right to receive one (1) share of the issuer's Common Stock upon settlement.

Remarks:

EXHIBIT 24: POWER OF ATTORNEY