Form 4: DocGo CEO Lee Bienstock Receives and Disposes of Shares in Stock Incentive Plan

DocGo's CEO, Lee Bienstock, received 536,993 restricted stock units and disposed of 86,236 shares to cover tax liabilities.

Summary

• Lee Bienstock, CEO of DocGo Inc., was granted 536,993 restricted stock units (RSUs) on December 12, 2024, as part of the company's 2021 Stock Incentive Plan.
• These RSUs will vest in four equal annual installments starting on December 12, 2025.
• Additionally, Bienstock holds other RSUs that vest at various dates in 2025, 2026 and 2027.
• On December 13, 2024, 86,236 shares were disposed of at a price of $4.19 per share to cover tax obligations related to previously granted RSUs.
• Following these transactions, Bienstock beneficially owns 1,606,261 shares of DocGo stock.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices. While the share disposal is a slight negative, the overall sentiment is neutral to slightly positive due to the long-term incentive structure.

Positives

• The grant of 536,993 RSUs to the CEO aligns his interests with the long-term performance of the company.
• The vesting schedule of the RSUs encourages long-term commitment from the CEO.

Negatives

• The disposal of 86,236 shares, while for tax purposes, reduces the CEO's direct shareholding.

Risks

• The vesting of a large number of RSUs over the next few years could potentially dilute the value of existing shares.
• The CEO's share disposal, even for tax purposes, could be perceived negatively by some investors.

Future Outlook

The document does not contain any forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of executive compensation and share transactions, which is common in publicly traded companies. It reflects standard practices for incentivizing and retaining key personnel.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) as part of executive compensation is a common practice among publicly traded companies, including those in the healthcare and technology sectors.
• The vesting schedules described are typical, with vesting occurring over multiple years to encourage long-term performance and retention.
• Companies like Teladoc Health and Amwell also use similar equity-based compensation plans for their executives.
• The tax-related share disposals are also a standard practice when executives receive equity compensation.

Stakeholder Impact

• The grant of RSUs to the CEO aligns his interests with those of shareholders.
• The vesting schedule encourages long-term value creation for shareholders.
• The share disposal, while for tax purposes, may have a minor negative impact on shareholder sentiment.

Key Dates

Keywords

DocGo, Lee Bienstock, restricted stock units, RSUs, stock incentive plan, share disposal, beneficial ownership, executive compensation