Form 4: Phreesia Inc. Director Lainie Goldstein Acquires Shares Through Deferred Compensation Program

Director Lainie Goldstein acquired 546 shares of Phreesia, Inc. common stock through the company's Non-Employee Director Deferred Compensation Program.

Summary

• On October 31, 2024, Lainie Goldstein, a director of Phreesia, Inc., acquired 546 shares of common stock.
• The acquisition was made through the company's Non-Employee Director Deferred Compensation Program.
• The shares were acquired at a price of $18.29 per share.
• Following the transaction, Goldstein directly owns 41,104 shares of Phreesia, Inc.
• The deferred stock units (DSUs) are awarded quarterly in arrears in lieu of an annual cash retainer.
• The underlying common stock will be received 90 days after Goldstein ceases to be a director and incurs a 'separation from service'.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's acquisition of shares through a compensation program is a routine event and indicates alignment with shareholder interests.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The Non-Employee Director Deferred Compensation Program aligns director interests with shareholder value.

Future Outlook

The director will receive underlying common stock 90 days after she ceases to serve as a member of the Board of Directors of the Issuer and incurs a 'separation from service'.

Industry Context

Director compensation programs are common in publicly traded companies to align the interests of directors with those of shareholders. Deferred stock units are a typical component of such programs.

Comparison to Industry Standards

• Deferred compensation plans for directors are a standard practice among publicly traded companies, including competitors like Veeva Systems and Allscripts Healthcare Solutions.
• The structure of Phreesia's plan, awarding DSUs quarterly in arrears, is similar to those used by other companies in the healthcare technology sector.

Related Party Transactions

• The acquisition of shares through the Non-Employee Director Deferred Compensation Program constitutes a related party transaction.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates