Form 4: Health In Tech Director Timothy Hayes Granted Over 128,000 Restricted Shares

Health In Tech, Inc. Director Timothy Hayes has been granted 128,474 restricted shares of Class A Common Stock at a price of $0.62 per share, aligning his interests with the company's performance.

Summary

• Timothy Hayes, a Director of Health In Tech, Inc. (HIT), acquired 128,474 shares of Class A Common Stock.
• The transaction occurred on June 23, 2025, and the shares were granted at a price of $0.62 per share.
• These shares are restricted and were granted pursuant to the Health in Tech Equity Incentive Plan.
• The shares will vest either fully upon one year of service commencing December 23, 2024, or partially at the first shareholders' meeting if not fully vested by that date, based on a pro-rata formula.
• Vesting is contingent upon Mr. Hayes' continuous service through the vesting date.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates alignment of a director's interests with the company's performance through an equity grant, which is generally viewed favorably by investors. It's not strongly positive as it's a routine compensation event rather than a major strategic announcement.

Positives

• The grant of restricted stock to Director Timothy Hayes aligns his financial interests directly with the long-term performance and success of Health In Tech, Inc.
• The existence of an Equity Incentive Plan indicates a structured approach to incentivizing key personnel and retaining talent.

Risks

• The vesting of the restricted shares is subject to Timothy Hayes' continuous service, meaning the shares could be forfeited if his service terminates before the vesting conditions are met.

Future Outlook

The restricted shares granted to Director Timothy Hayes are subject to future vesting conditions, with full vesting contingent upon one year of service commencing December 23, 2024, or partial vesting at a future shareholders' meeting based on a pro-rata schedule, provided continuous service is maintained.

Management Comments

• The grant of restricted shares to the reporting person was made pursuant to the Health in Tech Equity Incentive Plan.

Industry Context

This Form 4 filing reflects an individual insider transaction, specifically an equity grant to a director. Such grants are a common practice across industries to align management and director interests with shareholder value, particularly in technology and healthcare sectors where long-term innovation and growth are key.

Comparison to Industry Standards

• The granting of restricted stock to directors is a standard practice in corporate governance across various industries, including healthcare technology, to incentivize long-term commitment and performance.
• The vesting schedule, tied to service, is typical for such equity incentive plans, ensuring retention and alignment of interests over time.
• While specific comparable companies or projects are not mentioned in this filing, similar equity compensation structures are observed in companies like Teladoc Health (TDOC) or Amwell (AMWL) for their executives and directors, aiming to foster long-term value creation.

Corporate Governance

Related Party Transactions

• The acquisition of restricted shares by Timothy Hayes, a Director of Health In Tech, Inc., constitutes a related party transaction as it involves a transaction between the company and a member of its management/board.

Stakeholder Impact

• Shareholders: The grant of restricted stock to a director aligns the director's financial interests with the long-term performance of the company, potentially benefiting shareholders through improved governance and strategic focus.
• Employees: The existence and utilization of an Equity Incentive Plan can signal a commitment to employee and director retention and motivation, potentially fostering a positive work environment.

Next Steps

• The restricted shares granted to Timothy Hayes will vest based on service conditions, with the first potential full vesting occurring one year after December 23, 2024.

Key Dates

Recommendation

Keywords

Health In Tech, HIT, SEC Form 4, Restricted Stock, Equity Incentive Plan, Insider Transaction, Director Compensation, Stock Grant, Beneficial Ownership