Company: FLYW
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0001193125-25-089231
Chunk: 48

Company: Flywire Corp
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 48
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Authority to grant equity awards to our employees rests with our People & Compensation Committee, although our People & Compensation Committee has delegated authority to our Chief Executive Officer and President and Chief Operating Officer to grant equity awards to non-executive employees within prescribed limits set by our People & Compensation Committee. With respect to our executive officers, except for our Chief Executive Officer, recommendations for equity awards are made by our Chief Executive Officer and reviewed and approved by our People & Compensation Committee.

Under the terms of our 2021 Equity Incentive Plan, pursuant to which new equity awards are granted, the exercise price of any option (which we have not granted since 2022) to purchase shares of our common stock awarded under the plan must be equal to at least 100% of the fair market value of our common stock (which is determined based on the closing sales price of our common stock on the Nasdaq Global Market) on the date of grant.

RESTRICTIONS ON TRADING

Our Insider Trading Policy, as amended and restated in the first quarter of 2023 (ITP), prohibits our employees (including officers) and directors, or any of their designees, from purchasing financial instruments (including prepaid variable forward contracts, equity swaps, collars, and exchange funds), or otherwise engaging in transactions, that hedge or offset, or are designed to hedge or offset, any decrease in the market value of our equity securities (i) granted to the employee or director as part of the compensation of the employee or director; or (ii) held, directly or indirectly, by the employee or director. Although our employees (including officers) and directors may pledge our equity securities held by them with the prior clearance of one of our compliance officers, such persons are responsible for ensuring that foreclosure on any such account would not violate our ITP and should be aware that sales of such securities could have securities law implications.

RULE 10B5-1 SALES PLANS

Our ITP permits our directors, officers and employees to enter into trading plans complying with Rule 10b5-1 under the Exchange Act at a time when such individuals are not in possession of material non-public information. Certain of our executive officers and directors have adopted, and may in the future adopt, Rule 10b5-1 trading plans. Generally, under these trading plans, the individual relinquishes control over the transactions once the trading plan is put into place. Accordingly, sales under these plans may occur at any time during the term of the trading plan, including possibly before, simultaneously