Form 4: Phreesia Inc. COO Sells Shares to Cover Tax Obligations and Under 10b5-1 Plan

Phreesia Inc.'s Chief Operating Officer, Evan Roberts, sold shares to cover tax obligations and under a pre-arranged 10b5-1 trading plan.

Summary

• Evan Roberts, the Chief Operating Officer of Phreesia Inc., sold a total of 10,192 shares of common stock.
• The sales occurred on January 6, 2025, and January 7, 2025.
• On January 6, 2025, 2,873 shares were sold at a weighted average price of $26.6055 per share, with individual prices ranging from $26.26 to $26.91.
• On January 7, 2025, 7,319 shares were sold at a price of $27 per share.
• The January 6th sale was to cover tax withholding obligations related to the settlement of restricted stock units.
• The January 7th sale was executed under a Rule 10b5-1 trading plan adopted on July 17, 2024.
• Following these transactions, Roberts beneficially owns 772,674 shares of Phreesia Inc. common stock.

Sentiment

Score: 5

Explanation: The document is a routine filing of stock sales by an executive, which is neither positive nor negative for the company's overall prospects. It is a neutral event.

Industry Context

This is a routine filing related to executive stock transactions and is common for publicly traded companies. The use of a 10b5-1 plan is a standard practice to avoid insider trading accusations.

Comparison to Industry Standards

• Executive stock sales are a common occurrence in publicly traded companies, particularly for compensation and tax purposes.
• The use of a 10b5-1 trading plan is a standard practice to allow executives to sell shares without being accused of insider trading, similar to practices at companies like Veeva Systems and athenahealth.
• The weighted average price of $26.6055 on January 6th and the $27 price on January 7th are within the typical range of daily price fluctuations for a company like Phreesia, and are not unusual compared to similar transactions at other companies in the healthcare technology sector.

Stakeholder Impact

• The stock sales may have a minor impact on the stock price, but are unlikely to significantly affect shareholders.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Phreesia Inc., Evan Roberts, Chief Operating Officer, stock sale, Form 4, 10b5-1 trading plan, restricted stock units, tax withholding