Form 4: Privia Health CFO Mountcastle Sells Shares Under 10b5-1 Plan

Privia Health Group's EVP & CFO, David Mountcastle, sold 23,887 shares of common stock for approximately $25.03 per share after exercising options, as part of a pre-arranged 10b5-1 trading plan.

Summary

• David Mountcastle, EVP & Chief Financial Officer of Privia Health Group, Inc. (PRVA), reported transactions on December 12, 2025.
• He exercised stock options to acquire 23,887 shares of common stock at an exercise price of $2.00 per share.
• Concurrently, he sold 23,887 shares of common stock at a weighted average price of $25.03 per share, with prices ranging from $25.00 to $25.16.
• These transactions were executed pursuant to a pre-arranged Rule 10b5-1 trading plan.
• Following these transactions, Mountcastle directly owns 172,909 shares of common stock and indirectly owns 8,695 shares through his spouse.
• He also retains beneficial ownership of 38,639 stock options.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While an insider sale can sometimes be viewed negatively, the transaction was pre-scheduled under a 10b5-1 plan and represents a routine exercise of vested options and subsequent sale, rather than a discretionary sale based on new information.

Positives

• The executive realized a significant gain by exercising options at $2.00 and selling shares at an average of $25.03.
• The transactions were conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled event rather than a reaction to new, undisclosed information.

Negatives

• An insider sale, even under a 10b5-1 plan, reduces the executive's direct equity stake in the company, which some investors might interpret as a slight reduction in alignment of interests.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance.

Management Comments

• This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.
• The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $25.00 to $25.16 per share.
• The reporting person undertakes to provide to Privia Health Group, Inc., any security holder of Privia Health Group, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
• All of the stock options are fully vested and exercisable.

Industry Context

This Form 4 filing reports an individual executive's stock transactions and does not provide information directly related to broader industry trends or competitive landscape within the healthcare services sector.

Comparison to Industry Standards

• This filing is a standard insider transaction report (Form 4) and does not contain information suitable for comparison to global industry benchmarks, specific comparable companies, projects, or results.

Stakeholder Impact

• Shareholders: The sale by a CFO, even under a 10b5-1 plan, might be viewed with slight caution by some shareholders, though it is a common practice for executives to diversify their holdings. The remaining significant holdings indicate continued alignment.

Next Steps

• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the reported range upon request.

Key Dates

Recommendation

The filing details a routine insider transaction (exercise of options and sale of shares) executed under a pre-arranged 10b5-1 trading plan. This type of transaction is generally not indicative of a change in the company's fundamental outlook or the executive's confidence. Therefore, it does not provide a basis for a 'buy' or 'sell' recommendation, suggesting a 'hold' position based solely on this filing.

Keywords

Privia Health Group, PRVA, David Mountcastle, Insider Trading, Form 4, Stock Option Exercise, Share Sale, 10b5-1 Plan, Executive Compensation, Healthcare Services