Form 4: Oscar Health Director Acquires Deferred Stock Units in Lieu of Cash Retainer

Jeffrey H. Boyd, a director at Oscar Health, Inc., acquired 1,883 deferred stock units in lieu of cash retainer payments for board service on July 11, 2024.

Summary

• On July 11, 2024, Jeffrey H. Boyd, a director of Oscar Health, Inc., acquired 1,883 deferred stock units.
• These units were received in lieu of cash retainer payments for his service on the company's board of directors.
• The price of the deferred stock units was $16.59, based on the closing price of Oscar Health's Class A common stock on that date.
• Following this transaction, Boyd directly owns 49,077 deferred stock units.
• These deferred stock units will be settled for cash or shares of Class A common stock within 45 days of termination of service, a change in control, death, or disability.
• The deferred stock units issued in lieu of cash retainer payment are 100% vested on the grant date.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of an insider transaction. The director receiving stock units could be seen as a positive sign, but it's not a major event.

Positives

• The director's decision to take deferred stock units instead of cash may signal confidence in the company's future performance.

Future Outlook

The deferred stock units will be settled for cash or shares of Class A common stock, in the Issuer's discretion, within 45 days of the first to occur of (i) termination of service; (ii) a change in control; (iii) death; or (iv) disability.

Industry Context

This is a routine disclosure of insider transactions, common for publicly traded companies. Directors often receive stock-based compensation as part of their overall remuneration.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across the healthcare industry.
• Companies like UnitedHealth Group (UNH) and Anthem (ANTM) also utilize stock options and restricted stock units as part of their director compensation packages.
• The vesting schedules and settlement terms are generally aligned with industry norms, ensuring long-term alignment with shareholder interests.

Stakeholder Impact

• The transaction has a minor impact on shareholders, as it reflects a director's compensation structure.
• It could be viewed positively as aligning the director's interests with those of the shareholders.

Key Dates