Form 4: Oscar Health Executive Victoria Baltrus Reports Stock Sales and RSU Vesting
SEC Form 4
Victoria Baltrus, Chief Accounting Officer of Oscar Health, reported the vesting of restricted stock units and subsequent sales of Class A Common Stock to cover tax obligations.
Summary
- On September 1, 2024, Victoria Baltrus, Chief Accounting Officer of Oscar Health, Inc., had restricted stock units (RSUs) vest, converting into Class A Common Stock.
- Following the vesting, Ms. Baltrus sold 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, Ms. Baltrus directly owns 136,796 shares of Oscar Health's Class A Common Stock.
- She also holds 8,877 to 44,998 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by a company executive. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies, often used for personal financial planning or to cover tax obligations related to equity compensation. The use of a Rule 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices, avoiding accusations of insider trading.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with long-term shareholder value.
- Sales under 10b5-1 plans are a common practice among executives to manage tax liabilities and diversify their holdings.
- Comparable companies in the healthcare technology sector also utilize equity compensation and 10b5-1 plans for their executives.
Key Dates
| Date | Description |
|---|---|
| February 8, 2022 | Power of Attorney executed by Victoria Baltrus. |
| June 1, 2022 | Restricted stock units vest in twelve equal quarterly installments beginning on this date. |
| September 1, 2022 | 25% of certain restricted stock units vested on this date, with the remaining shares vesting in 12 equal quarterly installments thereafter. |
| February 27, 2023 | Date prior to which the Rule 10b5-1 instruction letter was entered into. |
| June 1, 2023 | Restricted stock units vest in twelve equal quarterly installments beginning on this date. |
| June 1, 2024 | Restricted stock units vest in twelve equal quarterly installments beginning on this date. |
| September 1, 2024 | Restricted stock units vested, converting into Class A Common Stock. |
| September 3, 2024 | Sale of 4,226 shares of Class A Common Stock at a weighted average price of $17.99. |
| September 4, 2024 | Sale of 2,121 shares of Class A Common Stock at a weighted average price of $17.46 and 1,731 shares at a weighted average price of $17.85. |
| September 4, 2024 | Date of signature by Attorney-in-fact. |
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