Form 4: Oscar Health Executive Ranmali Bopitiya Reports Stock Sales to Cover Tax Obligations
SEC Form 4
Ranmali Bopitiya, EVP & Chief Legal Officer of Oscar Health, Inc., reported the sale of Class A Common Stock to cover tax obligations related to vesting equity awards.
Summary
- On June 4, 2024, Ranmali Bopitiya, EVP & Chief Legal Officer of Oscar Health, Inc., filed a Form 4 detailing recent transactions in the company's Class A Common Stock.
- The transactions included the acquisition of shares through the vesting of restricted stock units and the sale of shares to satisfy tax withholding obligations.
- Bopitiya sold 17,168 shares on June 3, 2024, at an average price of $19.46 and 447 shares on June 4, 2024, at an average price of $19.09.
- These sales were executed pursuant to a Rule 10b5-1 trading plan established prior to February 27, 2023.
- Bopitiya also acquired shares through the vesting of restricted stock units on June 1, 2024, in three separate transactions of 20,425, 16,447, and 4,867 shares respectively.
- Following these transactions, Bopitiya directly owns 137,388 shares of Class A Common Stock and 142,974, 180,922, and 53,537 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Sales to cover tax obligations related to equity compensation are typical and often pre-planned using Rule 10b5-1 trading plans to avoid accusations of insider trading.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| January 14, 2022 | Date of Power of Attorney execution. |
| June 1, 2022 | Start date for vesting of 20,425 restricted stock units over four years in 16 equal quarterly installments. |
| February 27, 2023 | Date prior to which the Rule 10b5-1 instruction letter was entered into. |
| June 1, 2023 | Start date for vesting of 16,447 restricted stock units over four years in 16 equal quarterly installments. |
| June 1, 2024 | Vesting date for restricted stock units and acquisition of shares. |
| June 1, 2024 | Start date for vesting of 4,867 restricted stock units over three years in 12 equal quarterly installments. |
| June 3, 2024 | Sale of 17,168 shares of Class A Common Stock at an average price of $19.46. |
| June 4, 2024 | Sale of 447 shares of Class A Common Stock at an average price of $19.09. |
| June 4, 2024 | Date of Form 4 filing. |
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