Remitly Global Appoints New CFO, Sets Compensation
Ticker: RELY · Form: 8-K · Filed: May 13, 2024 · CIK: 1782170
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: RELY
TL;DR
Remitly just hired a new CFO, Michael Masserman, starting May 13th with a $400k salary.
AI Summary
Remitly Global, Inc. announced on May 9, 2024, changes in its executive compensation. Specifically, the company entered into an employment agreement with Michael Masserman, appointing him as Chief Financial Officer, effective May 13, 2024. Masserman will receive an annual base salary of $400,000 and is eligible for a discretionary annual bonus.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $400,000 — CFO Annual Base Salary (This is the starting salary for the newly appointed Chief Financial Officer, Michael Masserman.)
Key Players & Entities
- Remitly Global, Inc. (company) — Registrant
- Michael Masserman (person) — Appointed Chief Financial Officer
- $400,000 (dollar_amount) — Annual base salary for new CFO
- May 9, 2024 (date) — Date of Report
- May 13, 2024 (date) — Effective date of CFO appointment
FAQ
Who is the new Chief Financial Officer of Remitly Global, Inc.?
Michael Masserman has been appointed as the new Chief Financial Officer.
When does Michael Masserman's appointment as CFO become effective?
The appointment is effective May 13, 2024.
What is Michael Masserman's annual base salary?
Michael Masserman's annual base salary is $400,000.
Is the new CFO eligible for a bonus?
Yes, Michael Masserman is eligible for a discretionary annual bonus.
What other executive changes or compensatory arrangements are detailed in this filing?
This filing specifically details the appointment and compensation of the new CFO, Michael Masserman, and mentions it falls under 'Compensatory Arrangements of Certain Officers'.
Filing Stats: 448 words · 2 min read · ~1 pages · Grade level 11.5 · Accepted 2024-05-13 16:02:05
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share RELY The Nasdaq Stock Marke
Filing Documents
- rely-20240509.htm (8-K) — 24KB
- 0001782170-24-000140.txt ( ) — 151KB
- rely-20240509.xsd (EX-101.SCH) — 2KB
- rely-20240509_lab.xml (EX-101.LAB) — 23KB
- rely-20240509_pre.xml (EX-101.PRE) — 13KB
- rely-20240509_htm.xml (XML) — 3KB
From the Filing
rely-20240509 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 9, 2024 REMITLY GLOBAL, INC. (Exact name of Registrant as specified in its charter) Delaware 001-40822 83-2301143 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 1111 Third Avenue , Suite 2100 Seattle , WA 98101 (Address of principal executive offices, including zip code) (888) 736-4859 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share RELY The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Effective May 13, 2024, Joshua Hug transitioned from his role as the Company's Chief Operating Officer to a new role as Vice Chair, in which he will contribute to our company and product strategy and lead other key projects to accelerate customer delivery. Mr. Hug will remain on our board of directors. The change to Mr. Hug's title was approved by the board of directors on May 9, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Remitly Global, Inc. Date: May 13, 2024 By: /s/ Saema Somalya Saema Somalya EVP, Legal and Risk