Form 4: LifeStance Director Sells Shares Under 10b5-1 Plan

LifeStance Health Group Director Robert Bessler reported the sale of 9,663 shares of common stock across direct and indirect holdings at a weighted average price of $7.00 per share.

Summary

• Robert Bessler, a Director of LifeStance Health Group, Inc. (LFST), reported the sale of common stock.
• On December 18, 2025, a total of 9,663 shares of common stock were sold.
• The shares were sold at a weighted average price of $7.00 per share, with individual transactions ranging from $7.00 to $7.025.
• The sales were executed pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.
• The transactions included 3,221 shares sold directly by Robert Bessler, 3,221 shares sold indirectly through Vitthal LLC, and 3,221 shares sold indirectly through Shama LLC.
• Following these transactions, Robert Bessler beneficially owns 57,619 shares directly.
• Indirect beneficial ownership after the transactions includes 1,378,954 shares through Vitthal LLC, 1,495,754 shares through Shama LLC, and 36,363 shares through Alpine Glow Capital, where Robert Bessler is the manager and sole member.

Sentiment

Score: 4

Explanation: The director's sale of shares, even under a pre-arranged 10b5-1 plan, typically signals a reduction in insider confidence or a need for liquidity, which can be viewed negatively by the market. The pre-arranged nature mitigates some, but not all, of the negative sentiment.

Positives

• The sales were made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan rather than an immediate reaction to new, adverse information.

Negatives

• A director selling a significant number of shares (9,663 shares) can be perceived negatively by investors, potentially signaling a reduction in confidence in the company's near-term prospects.
• The total value of shares sold is approximately $67,641, representing a reduction in insider exposure to the company's equity.

Risks

• Increased investor scrutiny regarding management's confidence in the company's future performance.
• Potential for negative market sentiment and downward pressure on the stock price due to insider selling, despite the existence of a 10b5-1 plan.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may interpret the insider selling as a negative signal, potentially leading to decreased investor confidence and downward pressure on the stock price.

Key Dates

Recommendation

While insider selling is generally a negative signal, the execution under a Rule 10b5-1 plan suggests the decision was pre-scheduled and not based on immediate, undisclosed adverse information. Investors should hold and monitor for further company developments or additional insider activity, as this single transaction may not reflect a fundamental shift in company outlook.

Keywords

LFST, LifeStance Health Group, Insider Trading, Form 4, Stock Sale, Robert Bessler, 10b5-1 Plan