Form 4: Phreesia Inc. Executive Janet Gunzburg Reports Acquisition of Restricted Stock Units in Lieu of Cash Bonus

Janet Gunzburg, Principal Accounting Officer of Phreesia Inc., acquired 4,477 Restricted Stock Units (RSUs) in lieu of a cash bonus, increasing her total holdings to 43,426 shares.

Summary

• On April 5, 2024, Janet Gunzburg, the Principal Accounting Officer of Phreesia Inc., acquired 4,477 shares of common stock in the form of Restricted Stock Units (RSUs).
• These RSUs were received in lieu of her cash bonus earned for the fiscal year ended January 31, 2024, under the company's Senior Executive Cash Incentive Bonus Plan.
• Gunzburg elected to convert her 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 $21.79, which was the closing price of Phreesia's common stock on April 5, 2024.
• Following this transaction, Gunzburg's total beneficial ownership of Phreesia Inc. common stock increased to 43,426 shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of an executive receiving stock-based compensation. There are no overtly positive or negative implications.

Positives

• Executive compensation is being tied to company stock performance, aligning executive interests with shareholder interests.
• The election to receive RSUs instead of cash demonstrates confidence in the company's future prospects from the Principal Accounting Officer.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects a common practice of using stock-based compensation to incentivize executives and align their interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, particularly in the technology and healthcare sectors, to align executive incentives with shareholder value.
• Companies like Veeva Systems and athenahealth also utilize stock options and restricted stock units as part of their executive compensation packages.
• The percentage of compensation delivered in stock versus cash varies based on company size, growth stage, and industry norms.

Stakeholder Impact

• Shareholders may view this positively as it aligns executive compensation with company performance.
• Employees may see this as a standard practice for executive compensation.

Key Dates