Form 4: Thrive Capital Entities Increase Stake in Oscar Health Through Open Market Purchases

Thrive Capital related entities have increased their holdings in Oscar Health through open market purchases of Class A Common Stock.

Summary

• Thrive Capital Partners VII Growth, L.P. and Claremount VII Associates, L.P., both entities related to Thrive Capital, have purchased additional shares of Oscar Health's Class A Common Stock.
• On November 14, 2024, they acquired 158,732 shares at a weighted average price of $15.6124 and 185,790 shares at a weighted average price of $15.9651.
• These purchases were made in multiple transactions at prices ranging from $14.87 to $16.00 per share.
• Following these transactions, Thrive VII Growth directly holds 6,081,945 shares and Claremount VII directly holds 73,277 shares.
• Joshua Kushner, as managing member of the general partners of these entities, has voting and investment power over these shares and is also a director of Oscar Health.

Sentiment

Score: 7

Explanation: The document indicates increased investment by a major shareholder, which is generally a positive sign, but it does not provide any specific forward-looking statements or guidance.

Positives

• The increased investment by Thrive Capital entities suggests confidence in Oscar Health's future prospects.
• The open market purchases indicate a willingness to invest at current market prices.

Risks

• The document does not explicitly state any risks, but the increased holdings could be seen as a risk if the company's performance does not meet expectations.
• The purchases were made in multiple transactions at varying prices, which could indicate a lack of conviction at a specific price point.

Management Comments

• Joshua Kushner has been deputized to represent the Reporting Persons on the board of directors of the Issuer.
• Each of the Reporting Persons may be deemed directors by deputization of the Issuer.

Industry Context

This filing reflects ongoing investment activity in the healthcare technology sector, where companies like Oscar Health are navigating a competitive landscape.

Comparison to Industry Standards

• Open market purchases by significant shareholders are a common occurrence in the public markets, often signaling confidence in the company's prospects.
• The size of the purchases is not unusual for a 10% owner, but the multiple transactions at varying prices could be seen as a lack of conviction at a specific price point.
• Other companies in the healthcare technology space, such as Teladoc Health and Livongo, have also seen similar insider transactions.

Stakeholder Impact

• The increased investment could be viewed positively by shareholders, potentially increasing confidence in the company.
• The purchases could also be seen as a positive signal to other investors.

Key Dates

Keywords

Oscar Health, Thrive Capital, Share Purchase, Class A Common Stock, Beneficial Ownership, Joshua Kushner, SEC Form 4, Open Market Purchase