Form 4: Phreesia Inc. CFO Balaji Gandhi Sells Shares to Cover Tax Obligations

Balaji Gandhi, CFO of Phreesia Inc., sold 948 shares of common stock on April 15, 2024, to cover tax withholding obligations related to the settlement of restricted stock units.

Summary

• On April 15, 2024, Balaji Gandhi, the Chief Financial Officer of Phreesia Inc., disposed of 948 shares of the company's common stock.
• The shares were sold at a weighted average price of $22.8574 per share, with individual transaction prices ranging from $22.63 to $23.06.
• The sale was conducted to cover tax withholding obligations associated with the settlement of restricted stock units, as per the issuer's mandatory sell-to-cover policy.
• Following the transaction, Gandhi still beneficially owns 97,230 shares of Phreesia Inc. common stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sell-to-cover) by a company executive, which is neither particularly positive nor negative.

Industry Context

Sales of shares by company executives are a normal part of corporate governance. Often these sales are pre-planned and automated to comply with insider trading laws.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates