Form 4: Oscar Health EVP Alessandrea Quane Reports Stock Sales and RSU Vesting
SEC Form 4
Alessandrea Quane, EVP and Chief Insurance Officer at Oscar Health, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- Alessandrea C. Quane, EVP and Chief Insurance Officer of Oscar Health, Inc. (OSCR), reported transactions involving Class A Common Stock.
- On September 1, 2024, Quane vested a total of 274,551 restricted stock units (RSUs) which converted into Class A Common Stock.
- These RSUs vested in accordance with previously granted awards, with vesting schedules beginning on December 1, 2021, June 1, 2023, and June 1, 2024.
- Following the vesting, Quane sold a total of 147,537 shares of Class A Common Stock on September 3 and 4, 2024, at weighted average prices of $17.99, $17.46, and $17.85, respectively.
- These sales were executed under a pre-arranged Rule 10b5-1 trading plan to cover tax withholding obligations related to the vesting of the RSUs.
- After these transactions, Quane directly owns 378,150 shares of Class A Common Stock and indirectly owns 76,857 shares through a 2024 GRAT.
- Quane also continues to hold 86,525 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, as the sales are related to tax obligations.
Industry Context
Insider transactions are routinely monitored by investors to gauge executive sentiment and potential future performance. Sales to cover tax obligations are common after vesting events.
Key Dates
| Date | Description |
|---|---|
| 2021-03-17 | Date of Power of Attorney execution. |
| 2021-12-01 | Start date for vesting of some restricted stock units. |
| 2023-02-27 | Date prior to which the Rule 10b5-1 instruction letter was entered into. |
| 2023-06-01 | Start date for vesting of some restricted stock units. |
| 2024-06-01 | Start date for vesting of some restricted stock units. |
| 2024-09-01 | Vesting date of 274,551 restricted stock units. |
| 2024-09-03 | Sale of 77,181 shares of Class A Common Stock. |
| 2024-09-04 | Sale of 38,740 and 31,616 shares of Class A Common Stock. |
| 2024-09-04 | Date of Form 4 filing. |
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