Form 4: Thrive Capital Increases Stake in Oscar Health Through Multiple Share Purchases

Thrive Capital, through its affiliated entities, has increased its holdings in Oscar Health by purchasing additional shares of Class A Common Stock.

Summary

• Thrive Capital, through several affiliated entities, has acquired additional shares of Oscar Health's Class A Common Stock.
• On November 20, 2024, they purchased 88,395 shares at a weighted average price of $16.9659 per share.
• On November 21, 2024, they purchased another 100,000 shares at a weighted average price of $16.8598 per share.
• These purchases were made by Thrive Capital Partners VII Growth, L.P. and Claremount VII Associates, L.P.
• Following these transactions, Thrive Capital's total holdings increased to 6,343,617 shares.
• The purchases were executed in accordance with Rule 10b-18, which includes daily volume and other limitations.

Sentiment

Score: 7

Explanation: The document indicates a positive sentiment due to increased investment by a major shareholder, suggesting confidence in the company's future. However, it is a routine filing and does not contain any major surprises.

Positives

• Thrive Capital's increased investment signals confidence in Oscar Health's future prospects.
• The purchases were made in compliance with Rule 10b-18, indicating a structured and compliant approach.

Risks

• The document does not explicitly state any risks, but the increased stake could be seen as a risk if the company's performance does not meet expectations.

Management Comments

• Joshua Kushner, as managing member, has voting and investment power over the shares held by Thrive Capital entities.
• Joshua Kushner has been deputized to represent the Reporting Persons on the board of directors of the Issuer.

Industry Context

This filing reflects ongoing investment activity in the healthcare technology sector, where companies like Oscar Health are attracting significant attention from venture capital and private equity firms.

Comparison to Industry Standards

• The share purchases are consistent with typical investment strategies of venture capital firms like Thrive Capital, which often increase their stakes in portfolio companies they believe have strong growth potential.
• The transactions are in line with SEC regulations, specifically Rule 10b-18, which governs how companies and their affiliates can buy back their own stock in the open market.
• Comparable companies in the health tech space also see similar investment activity from their major shareholders.

Stakeholder Impact

• The increased investment by Thrive Capital could be viewed positively by shareholders, potentially increasing confidence in the company.
• The purchases do not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Oscar Health, Thrive Capital, Share Purchase, Class A Common Stock, Beneficial Ownership, Joshua Kushner, Rule 10b-18, Investment