Form 4: Phreesia SVP Amy Beth VanDuyn Acquires Restricted Stock Units in Lieu of Cash Bonus

Amy Beth VanDuyn, SVP of Human Resources at Phreesia, Inc., acquired 7,122 Restricted Stock Units (RSUs) in lieu of a cash bonus, fully vested on the grant date.

Summary

• On April 5, 2024, Amy Beth VanDuyn, SVP of Human Resources at Phreesia, Inc., acquired 7,122 shares of Common Stock in the form of Restricted Stock Units (RSUs).
• These RSUs were granted in lieu of a cash bonus earned for the fiscal year ended January 31, 2024, under the company's Senior Executive Cash Incentive Bonus Plan.
• VanDuyn 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 $21.79, which was the closing price of Phreesia's common stock on April 5, 2024.
• Following the transaction, VanDuyn directly owns 126,817 shares of Phreesia's common stock.
• A previously executed power of attorney was updated to allow certain individuals to act on behalf of Amy Beth VanDuyn in matters related to SEC filings.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, indicating stability and alignment of interests. The decision to take RSUs over cash is a positive signal.

Positives

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

Industry Context

The granting of RSUs in lieu of cash bonuses is a common practice in the industry to align executive compensation with company performance and shareholder value.

Comparison to Industry Standards

• Many companies in the tech and healthcare sectors use RSUs as part of their compensation packages.
• Companies like Veeva Systems and Cerner (now Oracle Health) also utilize equity-based compensation to incentivize executives.
• The specific terms of RSU grants, such as vesting schedules and conversion rates, can vary widely based on company size, performance, and industry norms.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive compensation with company performance.
• Employees may view the executive's decision to take RSUs as a sign of confidence in the company's future.

Key Dates