Luke Tavis

About Luke Tavis

Luke Tavis, age 49, was appointed Chief Accounting Officer (CAO) of Remitly effective February 28, 2025; he served as Remitly’s Vice President, Controller since December 2023, and previously held accounting leadership roles at Amazon (Devices & Services, 2022–2023) and Trilogy International Partners (Corporate Controller; VP & Director of Accounting & Reporting, 2015–2022) . Company performance in his recent tenure improved: revenues grew from $944.3M in FY 2023 to $1,263.963M in FY 2024*, and EBITDA improved from -$101.4M to -$27.6M*; Remitly’s cumulative TSR since IPO measured $47 vs $100 initial as of FY 2024 .
*Values retrieved from S&P Global.

Past Roles

External Roles

• No public company directorships or external board roles disclosed for Tavis .

Fixed Compensation

• Base salary and target bonus for the CAO were not disclosed in the appointment 8-K or latest proxy; only an equity award eligibility was specified .

Performance Compensation

• Tavis’s CAO equity award eligibility: 36,773 RSUs with time-based vesting (service-condition; no performance metrics disclosed) . A separate Form 3 indicates an RSU grant vesting 100% on Feb 25, 2026 (likely a different award than the CAO package) .

RSU Vesting Schedule Detail

• No performance metrics, weightings, targets, or payouts are associated with these RSUs; awards are service-based with multi-year vesting .

Equity Ownership & Alignment

• Initial beneficial ownership reporting: Form 3 filed March 10, 2025 (indicates RSU award vesting 100% on Feb 25, 2026) .
• Insider trading and alignment policies: hedging is prohibited; pledging requires written pre-approval and is permitted only under strict guidelines. A pledge by a director is noted in the proxy; no pledges disclosed for Tavis .
• Insider selling signals: Form 4 filings on Aug 27, 2025 and Sep 9, 2025; at least one transaction was under a Rule 10b5-1 plan filed for May 29, 2025, indicating systematic selling cadence .

Employment Terms

• Appointment: Board approved Tavis as CAO effective Feb 28, 2025; he reports to the CFO .
• Compensation arrangements: eligible for a 36,773-RSU award per schedule; no separate employment agreement, severance, or change-in-control terms disclosed for Tavis in the 8-K (company notes no existing material arrangements or related-party transactions for him) .
• Company-wide policies applicable to officers:
  • Hedging prohibition and restricted derivative transactions .
  • Pledging allowed only with pre-approval and oversight; company records reflect at least one director pledge; not attributed to Tavis .

Company Performance Context (FY)

• Pay-versus-performance TSR benchmarks (cumulative since IPO): Company TSR $47; peer group TSR $117 for 2024 .

Compensation Structure Analysis

• Shift to service-based RSUs: Tavis’s CAO award is entirely time-based RSUs with multi-year vesting, consistent with Remitly’s emphasis on retention and equity alignment rather than short-term cash incentives .
• Governance safeguards: double-trigger change-in-control arrangements are standard for NEOs; no gross-up provisions; limited perquisites—indicative of shareholder-friendly compensation design at the company level . (No Tavis-specific severance terms disclosed.)

Related Party Transactions

• None involving Tavis; 8-K explicitly states no direct or indirect material interest in any transaction requiring Item 404(a) disclosure .

Risk Indicators & Red Flags

• Hedging prohibited; pledging tightly controlled—no Tavis pledge disclosed .
• Systematic sales via 10b5-1 plan may indicate scheduled liquidity events, but absent share counts here, pressure magnitude not quantified .
• No legal proceedings or SEC investigations disclosed for Tavis .

Expertise & Qualifications

• Accounting and controllership expertise across tech and telecom; senior roles in complex, multi-entity environments (Amazon Devices & Services; Trilogy), and internal promotion to CAO after serving as VP Controller .

Work History & Career Trajectory

Equity Ownership & Alignment — Key Dates

Employment Terms

• Appointment and Reporting: CAO appointment effective Feb 28, 2025; reports to CFO .
• Compensation Elements: Eligible for 36,773 RSUs with specified multi-year vesting; no other employment arrangements disclosed; no related-party transactions .
• Policies: Hedging prohibited; pledging requires pre-approval; double-trigger CI arrangements apply to NEOs (company-wide practice; no Tavis-specific disclosure) .

Investment Implications

• Retention: The CAO RSU schedule includes near-term tranches in 2025–2026 and substantial long-dated tranches through 2029, creating strong retention hooks and alignment with multi-year value creation .
• Selling Pressure: Presence of a Rule 10b5-1 plan and multiple Form 4s in 2025 indicates planned liquidity events; monitor volumes and cadence for near-term technical pressure around vest dates .
• Pay-for-Performance: Awards are service-based; company-wide disclosure notes no use of explicit financial performance measures to link executive compensation to performance—reduces metric-driven payout variability but emphasizes equity alignment .
• Fundamentals Context: Revenue growth and EBITDA improvement in FY 2024 support equity value accretion potential during Tavis’s tenure*, but lack of performance-conditioned awards limits direct incentive tied to operating targets.
  *Values retrieved from S&P Global.