Form 4: Progyny CFO Mark Livingston Reports Stock Transactions
SEC Form 4 Filing
Progyny's CFO, Mark Livingston, reports the acquisition and disposal of company stock and stock options.
Summary
- On March 3, 2025, Mark Livingston, CFO of Progyny, Inc., acquired 36,363 shares of common stock underlying restricted stock units (RSUs) at $0, and disposed of 2,069 shares at $22.53 for tax withholding.
- Following these transactions, Livingston directly owns 75,709 shares of common stock.
- On March 4, 2025, Livingston disposed of 1,350 shares at $22 for tax withholding, resulting in direct ownership of 74,359 shares.
- Livingston also acquired 49,783 stock options with an exercise price of $22, exercisable from March 3, 2025, and expiring on March 2, 2035.
- These stock options are part of an annual merit grant under the 2019 Equity Incentive Plan, vesting over three years.
Sentiment
Score: 7
Explanation: The document reflects standard insider trading activity related to equity compensation, which is generally viewed neutrally to slightly positive as it aligns management interests with shareholders.
Positives
- The acquisition of RSUs and stock options by the CFO suggests confidence in the company's future performance.
Negatives
- The disposal of shares to cover tax obligations, while routine, slightly reduces the CFO's direct shareholding.
Risks
- Future vesting schedules and tax implications could lead to further stock disposals by the CFO.
Future Outlook
The vesting schedule of the RSUs and stock options extends over three years, indicating a long-term incentive structure for the CFO.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be informative for investors.
Comparison to Industry Standards
- Equity grants to executives are a common practice in publicly traded companies to align management's interests with those of shareholders.
- Vesting schedules, like the three-year vesting period for the RSUs and stock options, are typical in the industry to incentivize long-term performance.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding the CFO's holdings and incentives.
Key Dates
| Date | Description |
|---|---|
| 2019 | Issuer's 2019 Equity Incentive Plan |
| 03/03/2025 | Date of earliest transaction, RSU acquisition, stock option grant, and stock disposal for tax withholding. |
| 03/04/2025 | Date of stock disposal for tax withholding. |
| 03/02/2035 | Expiration date of stock options. |
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