Form 4: Phreesia Inc. Executive Receives Stock Awards
SEC Form 4 Filing
Allison C. Hoffman, General Counsel & Secretary of Phreesia Inc., was granted 46,525 restricted stock units (RSUs) on January 2, 2025.
Summary
- Allison C. Hoffman, General Counsel & Secretary of Phreesia Inc., received 46,525 restricted stock units (RSUs) on January 2, 2025.
- These RSUs were granted under the company's 2019 Stock Option and Incentive Plan.
- Each RSU represents the right to receive one share of Phreesia's common stock.
- The RSUs vest over a four-year period, with 10% vesting on January 2, 2026, 20% on January 2, 2027, 30% on January 2, 2028, and 40% on January 2, 2029.
- Vesting is contingent upon Ms. Hoffman's continued employment with Phreesia through each vesting date.
Sentiment
Score: 7
Explanation: The document reflects a standard practice of executive compensation, which is generally viewed positively as it aligns interests. There are no negative implications.
Positives
- The grant of RSUs aligns the executive's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the executive.
Risks
- The value of the RSUs is dependent on the future performance of Phreesia's stock price.
- If Ms. Hoffman leaves the company before the vesting dates, she will forfeit the unvested RSUs.
Future Outlook
The document does not contain any forward-looking statements or guidance.
Industry Context
The granting of stock-based compensation is a common practice in the technology industry to attract and retain key talent.
Comparison to Industry Standards
- Stock-based compensation is a standard practice for publicly traded companies, particularly in the tech sector, to align executive interests with shareholder value.
- The vesting schedule of the RSUs is typical, with a gradual vesting over several years to encourage long-term commitment.
- Companies like Veeva Systems and athenahealth also use similar equity compensation plans for their executives.
Stakeholder Impact
- Shareholders may view the RSU grant positively as it incentivizes the executive to work towards long-term company success.
- Employees may see this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 01/02/2025 | Date of the RSU grant. |
| 01/06/2025 | Date of the filing of the Form 4. |
| 01/02/2026 | First vesting date for 10% of the RSUs. |
| 01/02/2027 | Second vesting date for 20% of the RSUs. |
| 01/02/2028 | Third vesting date for 30% of the RSUs. |
| 01/02/2029 | Final vesting date for 40% of the RSUs. |
Keywords
RSU, Restricted Stock Units, Stock Options, Equity Compensation, Phreesia, Executive Compensation, Vesting
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