Form 4: Oscar Health Executive Alessandrea C. Quane Reports Stock Transactions
SEC Form 4
EVP and Chief Insurance Officer of Oscar Health, Alessandrea C. Quane, 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, reported transactions involving Class A Common Stock.
- On September 5, 2024, 31,250 restricted stock units vested and were converted into Class A Common Stock.
- Also on September 5, 2024, 31,250 shares were acquired.
- On September 6, 2024, 16,793 shares of Class A Common Stock were sold at a weighted average price of $17.06 per share, with prices ranging from $16.68 to $17.48.
- Following these transactions, Quane directly owns 392,607 shares of Class A Common Stock and indirectly owns 76,857 shares through a 2024 GRAT.
- The sale was executed under a pre-existing Rule 10b5-1 trading plan to cover tax obligations related to the vesting of equity awards.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the healthcare industry and other publicly traded sectors. It provides transparency into insider trading activities and helps investors understand the actions of key personnel.
Comparison to Industry Standards
- Executive stock transactions are a common occurrence in publicly traded companies, including those in the healthcare sector like UnitedHealth Group (UNH), Anthem (ANTM), and Cigna (CI).
- These companies' executives also routinely file Form 4s to report acquisitions and disposals of company stock.
- The use of Rule 10b5-1 trading plans is a standard practice among executives to avoid accusations of insider trading, ensuring that transactions are pre-planned and executed according to a predetermined schedule.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, as it represents a small percentage of the total outstanding shares.
- The transactions are part of a pre-arranged plan to cover tax obligations, which is a common practice among executives.
Key Dates
| Date | Description |
|---|---|
| 02/27/2023 | Date prior to which the Rule 10b5-1 instruction letter was entered into. |
| 12/05/2021 | Date when 25% of the restricted stock units vested. |
| 09/05/2024 | Date of restricted stock unit vesting and acquisition of Class A Common Stock. |
| 09/06/2024 | Date of sale of Class A Common Stock. |
| 09/09/2024 | Date of signature on the Form 4. |
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