Form 4: Progyny CEO Receives Significant Equity Grants

Progyny CEO Peter Anevski was granted restricted stock units and stock options, while also disposing of shares for tax obligations.

Summary

• Peter Anevski, Chief Executive Officer and Director of Progyny, Inc. (PGNY), reported transactions involving the company's common stock and derivative securities.
• On March 2, 2026, Anevski was granted 159,091 restricted stock units (RSUs) under the Issuer's 2019 Equity Incentive Plan, representing a contingent right to receive common stock.
• Also on March 2, 2026, Anevski received an annual merit grant of 232,011 stock options, exercisable at $17.6 per share, under the 2019 Equity Incentive Plan.
• On March 3, 2026, Anevski disposed of 17,611 shares of common stock at a price of $17.6 per share to cover withholding taxes upon the vesting of previously granted restricted stock units.
• Following these transactions, Anevski beneficially owns 816,833 shares of common stock directly.
• The reportable securities are also held indirectly by PECO ANEVSKI 2020 SD LLC.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing as moderately positive, reflecting routine executive compensation that aligns management incentives with long-term company performance, despite a minor share disposition for tax purposes.

Positives

• The grant of 159,091 restricted stock units (RSUs) and 232,011 stock options aligns the CEO's long-term incentives with shareholder value creation.
• These grants are part of an annual merit program, indicating ongoing executive compensation and retention strategies.

Negatives

• The disposition of 17,611 shares for tax withholding reduces the CEO's direct beneficial ownership of common stock.

Future Outlook

The vesting schedules for the granted restricted stock units and stock options extend through March 2029, contingent on the Reporting Person's continued service, indicating a long-term incentive structure for the CEO.

Industry Context

StockSavvy.ai notes that the granting of restricted stock units and stock options to executive leadership is a standard practice across industries, particularly in growth-oriented companies like Progyny. These equity awards are designed to incentivize long-term performance and align management's interests with those of shareholders, reflecting a common approach to executive compensation.

Comparison to Industry Standards

• Equity-based compensation, including RSUs and stock options with multi-year vesting schedules, is a prevalent practice for executive remuneration in the healthcare and technology sectors, similar to companies such as Teladoc Health or Livongo (prior to acquisition).
• The vesting schedule of 33% on the first anniversary and quarterly thereafter through the third anniversary is a common structure aimed at retaining executives and ensuring sustained performance over several years, comparable to incentive plans seen at many S&P 500 companies.

Related Party Transactions

• Reportable securities are held indirectly by PECO ANEVSKI 2020 SD LLC, an entity associated with the reporting person.

Stakeholder Impact

• Shareholders: The equity grants align the CEO's financial interests with long-term shareholder value, potentially fostering sustained performance.
• Employees: The grants are part of an 'annual merit grant,' which could signal a structured approach to executive compensation that may influence broader employee incentive programs.

Next Steps

• Continued vesting of the 159,091 restricted stock units, with 33% vesting on the first anniversary of the grant date (March 2, 2027) and the remainder vesting quarterly thereafter through March 2, 2029.
• Continued vesting of the 232,011 stock options, with 33% vesting on the first anniversary of the grant date (March 2, 2027) and the remainder vesting quarterly thereafter through March 2, 2029.

Key Dates

Keywords

Progyny, PGNY, SEC Form 4, Insider Trading, Equity Grant, Restricted Stock Units, Stock Options, CEO Compensation, Peter Anevski