Director Joshua Hug of Remitly Global, Inc. (NASDAQ: RELY) completed the sale of 23,000 shares of the company’s common stock across transactions on April 14 and April 15, 2026, yielding approximately $434,695 in proceeds. The trades were executed at prices between $17.76 and $18.73 per share, according to a Form 4 filing with the Securities and Exchange Commission.
The filing indicates the sales were made automatically under a Rule 10b5-1 trading plan that Hug adopted on December 11, 2025. That plan governed the series of transactions reported on the Form 4.
Details of the trades as disclosed show that on April 14, Hug sold 5,500 shares at a weighted average price of $17.76, with individual trade prices ranging from $17.46 to $17.95, and an additional 6,500 shares at $17.98. On April 15, the director sold 5,500 shares at a weighted average price of $18.73, with per-share prices spanning $18.09 to $19.01, and another block of 6,500 shares at $18.02.
Following the reported transactions, Hug directly holds 3,550,303 shares of Remitly Global. The filing also notes a family trust holding of 300,000 shares in which Hug’s spouse is listed as trustee.
Remitly’s share price has advanced 37% year-to-date and was trading at $18.86 at the time of the report, giving the company a market capitalization of $3.77 billion. An InvestingPro analysis cited with the filing indicates the stock remains undervalued relative to its Fair Value, implying potential upside from current levels despite the recent rally.
The insider sale comes amid an earnings report that exceeded analysts’ expectations. Remitly reported fourth-quarter revenue of $442 million, ahead of the Street estimate of $428 million, and adjusted EBITDA of $89 million versus a consensus estimate of $52 million. Alongside these results, the company issued guidance for the first quarter of fiscal 2026, projecting revenues between $436 million and $438 million and adjusted EBITDA in the range of $82 million to $84 million.
Market analysts have responded to the results and guidance with revised valuations. Cantor Fitzgerald raised its price target to $20 from $17 and maintained an Overweight rating. Citizens increased its price target to $22 from $20, citing improved margins and the revised adjusted EBITDA guidance.
Remitly also announced executive and accounting changes in conjunction with its results. Sebastian J. Gunningham has been named the company’s new chief executive officer, succeeding co-founder Matt Oppenheimer, who will remain as Chairman of the Board. In the accounting organization, Chief Accounting Officer Luke Tavis is scheduled to retire in March 2026 but will continue as Vice President, Accounting through June 2026 to facilitate a transition.
The Form 4 disclosure and accompanying company announcements provide a consolidated view of material insider activity, recent financial performance, guidance and leadership changes at Remitly. The transactions were reported in compliance with SEC requirements and tied to the pre-arranged trading plan noted in the filing.
Key points
- Joshua Hug sold 23,000 shares on April 14-15, 2026, for about $434,695 under a 10b5-1 plan adopted December 11, 2025.
- Remitly reported Q4 revenue of $442 million and adjusted EBITDA of $89 million, both above Street estimates; issued Q1 fiscal 2026 guidance of $436-438 million in revenue and $82-84 million adjusted EBITDA.
- Senior leadership and accounting transitions announced: Sebastian J. Gunningham named CEO; co-founder Matt Oppenheimer to remain Chairman; CAO Luke Tavis to retire March 2026 and remain as VP, Accounting until June 2026.
Risks and uncertainties
- Insider sales were executed under a pre-arranged 10b5-1 plan, which does not indicate management sentiment beyond the terms of the plan - relevant to investors in financial and payments sectors.
- Forward-looking guidance for Q1 fiscal 2026 introduces execution risk if the company fails to meet projected revenue or adjusted EBITDA ranges - relevant to equity and credit markets watching fintech earnings.
- Leadership and accounting transitions may present operational and reporting risks during the stated transition period through June 2026 - pertinent to stakeholders focused on corporate governance and financial controls.