Form 4: Phreesia Inc. Executive Evan Roberts Reports Acquisition of Shares Via Restricted Stock Units

Evan Roberts, Chief Operating Officer of Phreesia Inc., reports acquiring 12,865 shares of common stock through Restricted Stock Units (RSUs) in lieu of a cash bonus.

Summary

• On April 4, 2025, Evan Roberts, the Chief Operating Officer of Phreesia Inc., acquired 12,865 shares of common stock.
• This acquisition was made through Restricted Stock Units (RSUs) received in lieu of a cash bonus earned for the fiscal year ending January 31, 2025.
• Roberts elected to convert the cash bonus into RSUs, receiving 115% of the earned cash bonus amount.
• The number of RSUs granted was based on a per share value of $24.31, which was the closing price of Phreesia's common stock on April 4, 2025.
• Following the transaction, Roberts beneficially owns 783,885 shares of Phreesia Inc.
• The shares underlying these RSUs must be held until the earlier of April 4, 2026, or a Sale Event as defined in the Issuer's 2019 Stock Option and Incentive Plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The executive taking equity instead of cash is a good sign, suggesting confidence in the company. The terms of the RSU grant are fairly standard.

Positives

• Executive's decision to take equity instead of cash demonstrates confidence in the company's future.
• The conversion of the cash bonus into RSUs aligns the executive's interests with those of the shareholders.

Future Outlook

The shares underlying these RSUs (excluding shares that are sold in non-discretionary transactions to cover taxes) must be held by the Reporting Person until the earlier of (i) the one-year anniversary of the grant date or (ii) a Sale Event (as defined in the Issuer's 2019 Stock Option and Incentive Plan).

Industry Context

Executive compensation in the form of equity is a common practice in the tech industry to align management's interests with those of shareholders and incentivize long-term growth.

Comparison to Industry Standards

• Companies like Veeva Systems and athenahealth also use equity-based compensation for their executives.
• The vesting period of one year for the RSUs is fairly standard in the industry.
• The conversion of a cash bonus into RSUs at 115% of the value is a slightly more generous incentive than some companies offer.

Stakeholder Impact

• The acquisition of shares by a key executive could be viewed positively by shareholders.
• The alignment of executive compensation with company performance can improve employee morale.

Key Dates

Keywords

Form 4, Phreesia, Evan Roberts, Restricted Stock Units, RSUs, Beneficial Ownership, Chief Operating Officer, Equity Compensation