UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 5, 2025, the Company entered into a transition agreement (the “Transition Agreement”) with Joshua Hug, the Vice Chair of Remitly Global, Inc. (the “Company”), pursuant to which Mr. Hug will transition from his position as Vice Chair of the Company into a non-employee director role effective May 15, 2025. Mr. Hug’s transition did not result from any disagreement regarding the Company’s financial reporting or accounting policies, procedures, estimates, or judgments.
The Transition Agreement provides that the Company will pay for Mr. Hug’s monthly healthcare coverage under COBRA for 18 months. The Transition Agreement also contains a release of claims by Mr. Hug against the Company. Mr. Hug remains subject to ongoing covenants relating to non-solicitation, non-competition, mutual non-disparagement, and confidentiality.
The foregoing description of the Transition Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text thereof, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2025.
SIGNATURES
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 thereunto duly authorized.
| Remitly Global, Inc. | ||
| Date: March 6, 2025 | By: | /s/ Saema Somalya |
| Saema Somalya | ||
| Chief Legal and Corporate Affairs Officer | ||