Form 4: Phreesia Inc. Executive Receives Stock Units in Lieu of Cash Bonus

Yvonne Hui, Principal Accounting Officer of Phreesia Inc., acquired 2,049 shares of common stock in the form of Restricted Stock Units (RSUs) in lieu of a cash bonus.

Summary

• On September 6, 2024, Yvonne Hui, Principal Accounting Officer of Phreesia Inc., acquired 2,049 shares of common stock in the form of Restricted Stock Units (RSUs).
• These RSUs were fully vested as of the grant date and represent awards received in lieu of her cash bonus earned for the first half of the fiscal year ending January 31, 2025.
• Hui elected to convert her cash bonus into RSUs representing 115% of the earned cash bonus amount.
• The number of RSUs granted was based on a per share value of $23.55, the closing price of Phreesia Inc.'s common stock on September 6, 2024.
• Following the transaction, Hui directly owns 30,763 shares of Phreesia Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The executive taking RSUs instead of cash indicates confidence in the company's future, but it's a routine transaction.

Positives

• Executive's decision to take RSUs instead of cash may signal confidence in the company's future performance.

Industry Context

This type of equity compensation is common in the tech industry to align executive incentives with shareholder value.

Comparison to Industry Standards

• Many companies in the tech sector, such as Veeva Systems and athenahealth, use RSUs as part of their executive compensation packages.
• The practice of offering RSUs in lieu of cash bonuses is also observed in companies like Teladoc Health, where executives may choose to receive equity to demonstrate long-term commitment.

Key Dates