Form 4: Agilon Health Executive Benjamin Kornitzer Reports Stock Transactions
SEC Form 4
Benjamin Kornitzer, Chief Medical & Quality Officer of Agilon Health, reports the vesting and settlement of performance-based restricted stock units (PSUs) and shares withheld for tax obligations.
Summary
- On March 14, 2024, Benjamin Kornitzer, Chief Medical & Quality Officer of Agilon Health, had 5,434 performance-based restricted stock units (PSUs) vest, which were then settled for shares of common stock.
- The vesting of these PSUs was based on Agilon Health's achievement of predetermined Revenue and Adjusted EBITDA goals over a three-year period from January 1, 2021, through December 31, 2023, with a total attainment of 100%.
- Additionally, 1,883 shares of common stock were withheld by Agilon Health to satisfy income tax withholding obligations related to the settlement of the PSUs.
- Following these transactions, Kornitzer beneficially owns 62,058 shares of common stock, which includes restricted stock units.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The vesting of PSUs suggests the company met its performance goals. The filing itself is a routine regulatory disclosure.
Positives
- The vesting of PSUs indicates that Agilon Health met its performance targets for Revenue and Adjusted EBITDA over the three-year period from 2021 to 2023.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and their holdings in the company's stock.
Stakeholder Impact
- The vesting of PSUs and subsequent stock transactions can have a minor impact on shareholders by increasing the number of shares outstanding.
Key Dates
| Date | Description |
|---|---|
| 01/01/2021 | Start date for the three-year performance period used to determine PSU vesting. |
| 04/14/2021 | Date the performance-based restricted stock units (PSUs) were granted. |
| 12/31/2023 | End date for the three-year performance period used to determine PSU vesting. |
| 03/14/2024 | Date of PSU vesting and stock transactions. |
| 03/18/2024 | Date of Form 4 filing. |
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