Form 4: Progyny CFO Executes Planned Stock Sale

Progyny CFO Mark S. Livingston sold shares and withheld stock for tax obligations under a pre-established 10b5-1 plan.

Summary

• CFO Mark S. Livingston disposed of a total of 3,938 shares of Progyny, Inc. common stock.
• 1,421 shares were withheld by the company to satisfy tax withholding obligations related to the vesting of restricted stock units.
• 2,517 shares were sold in open market transactions at a price of $25.50 per share.
• The sales were conducted pursuant to a Rule 10b5-1 trading plan adopted on August 15, 2025.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the transactions were pre-planned and relate to standard executive compensation and tax obligations.

Positives

• Transactions were executed under a pre-arranged Rule 10b5-1 plan, indicating the sales were not based on non-public information.

Negatives

• Reduction in the direct equity stake held by the Chief Financial Officer.

Risks

• Continued reliance on Rule 10b5-1 plans for executive liquidity can sometimes be perceived by the market as a lack of long-term holding conviction.

Future Outlook

No specific forward-looking guidance regarding company operations was provided in this filing.

Industry Context

StockSavvy.ai notes that executive stock sales under 10b5-1 plans are standard corporate practice for liquidity and tax management and generally do not signal a change in company fundamentals.

Comparison to Industry Standards

• The use of Rule 10b5-1 plans is the industry standard for executives to sell shares while avoiding potential insider trading allegations.

Stakeholder Impact

• Minimal impact on shareholders as the transactions were pre-planned and represent a small portion of the CFO's total holdings.

Next Steps

• No future actions or milestones were disclosed in this filing.

Key Dates

Keywords

Progyny, PGNY, Insider Trading, Form 4, CFO, Equity Compensation