Form 4: Oscar Health CFO Richard Blackley Sells Shares

Richard Blackley, CFO of Oscar Health, Inc., sold 29,957 shares of Class A Common Stock at an average price of $17.06 on September 6, 2024, following the vesting of 62,500 restricted stock units on September 5, 2024.

Summary

• On September 5, 2024, Richard Scott Blackley, the Chief Financial Officer of Oscar Health, Inc., had 62,500 restricted stock units vest.
• Following the vesting, on September 6, 2024, Blackley sold 29,957 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $17.06 per share, with individual transactions ranging from $16.68 to $17.48.
• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan to cover tax obligations related to the vesting of equity awards.
• After these transactions, Blackley directly owns 853,875 shares of Class A Common Stock.
• The restricted stock units vested according to a schedule that began on December 5, 2021, with 25% vesting initially and the remainder vesting in equal quarterly installments.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sale was pre-planned under a 10b5-1 plan, suggesting it's not necessarily indicative of management's view of the company's prospects.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies and are often related to compensation and tax planning. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on current insider information.

Stakeholder Impact

• The sale of shares by a high-ranking executive could be perceived negatively by some shareholders, although the use of a 10b5-1 plan mitigates this concern.

Key Dates