4/A: LifeStance CPO Amends Stock Ownership Filing

LifeStance Health Group's Chief People Officer, Ann Varanakis, filed an amended Form 4 to correct previously reported share withholdings for tax obligations related to vested equity awards.

Summary

• Ann Varanakis, Chief People Officer of LifeStance Health Group, Inc. (LFST), filed an amended Form 4 to correct details regarding her beneficial ownership of common stock.
• The amendment specifically corrects the number of shares withheld by the Issuer to satisfy tax withholding obligations on March 7, 2025, from 3,725 shares to 7,450 shares, related to the net settlement of performance-based restricted stock units (PSUs).
• On March 6, 2025, Varanakis acquired 76,142 restricted stock units (RSUs) at a price of $0.00, increasing her beneficial ownership.
• Also on March 6, 2025, 6,455 shares were disposed of at $7.88 to cover tax withholding for vested RSUs.
• On March 7, 2025, Varanakis acquired 27,740 PSUs (vested from a March 8, 2024 grant) at a price of $0.00.
• On March 7, 2025, 7,450 shares were disposed of at $7.59 to cover tax withholding for vested PSUs (this is the corrected amount).
• Additionally, on March 7, 2025, Varanakis acquired 32,052 PSUs (vested from a February 28, 2024 grant) at a price of $0.00.
• On March 7, 2025, 8,606 shares were disposed of at $7.59 to cover tax withholding for another set of vested PSUs.
• Following these transactions, Ann Varanakis's direct beneficial ownership of LifeStance Health Group, Inc. common stock is 376,430 shares.

Sentiment

Score: 5

Explanation: The filing is a routine amendment to an insider transaction report, correcting a numerical detail. It does not inherently indicate positive or negative sentiment about the company's operational or financial performance.

Positives

• The acquisition of 76,142 RSUs and the vesting of 27,740 and 32,052 PSUs indicate the achievement of performance milestones or continued service, reflecting positive executive compensation events.

Negatives

• Shares were withheld by the Issuer to satisfy tax withholding obligations, which is a reduction in the number of shares directly received by the reporting person, though this is a standard practice for equity compensation.

Future Outlook

This filing is a report of past insider transactions and does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

The transactions reflect routine equity compensation practices for executives in the healthcare services industry, where restricted stock units and performance-based units are common incentives tied to company performance and executive retention.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) and Performance-Based Stock Units (PSUs) as part of executive compensation is a standard practice across various industries, including healthcare, aligning executive incentives with shareholder value.
• The withholding of shares to cover tax obligations upon the vesting of equity awards is a common and standard mechanism for net settlement, widely adopted by public companies to manage tax liabilities for their executives.

Stakeholder Impact

• Shareholders: The amendment provides accurate disclosure of an executive's equity holdings, ensuring transparency in insider ownership, which is a standard regulatory requirement.
• Employees: The filing details executive compensation, which can be a benchmark for broader employee incentive programs, though this specific filing is a routine disclosure.

Key Dates

Keywords

LifeStance Health Group, LFST, Form 4/A, Insider Transaction, Equity Compensation, Restricted Stock Units, Performance Stock Units, Ann Varanakis, Chief People Officer, Stock Ownership