Form 4: Progyny Director Kevin Gordon Reports Significant Equity Grants

Progyny, Inc. Director Kevin K. Gordon has reported the acquisition of 8,026 restricted stock units and 40,649 stock options as part of his compensation, aligning his interests with shareholders.

Summary

• Kevin K. Gordon, a Director at Progyny, Inc. (PGNY), reported new equity grants on May 22, 2025.
• He acquired 8,026 shares of common stock in the form of Restricted Stock Units (RSUs) at a price of $0. These RSUs are scheduled to vest on May 22, 2026, contingent on his continued service.
• Additionally, Mr. Gordon was granted 34,049 stock options with an exercise price of $20.89, which will vest on May 22, 2026, subject to his continued service.
• He also received a grant of 6,600 stock options, also with an exercise price of $20.89. These options will vest 25% on the first anniversary of the grant date, with the remainder vesting in equal quarterly installments through the fourth anniversary, subject to continued service.
• Following these transactions, Mr. Gordon directly holds 13,173 shares of common stock and indirectly holds 9,854 shares through the Kevin Gordon Revocable Declaration of Trust.
• He also directly holds 34,049 and 6,600 stock options, totaling 40,649 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive as the equity grants align the director's interests with shareholders, which is generally viewed favorably. There are no negative implications beyond standard dilution from equity compensation.

Positives

• The grants of Restricted Stock Units (RSUs) and stock options align the director's financial interests with those of the company's shareholders, incentivizing long-term performance.
• The acquisition of equity at a $0 price for RSUs and options indicates compensation, which is a standard practice for directors.

Negatives

• The issuance of new equity (RSUs and options) could lead to a slight dilution of existing shareholder value upon vesting and exercise, although this is typical for executive and director compensation.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Potential for minor dilution from the vesting and exercise of RSUs and options, but also increased alignment of director's interests with shareholder value creation.

Next Steps

• Vesting of 8,026 Restricted Stock Units (RSUs) on May 22, 2026, subject to continued service.
• Vesting of 34,049 stock options on May 22, 2026, subject to continued service.
• Phased vesting of 6,600 stock options, with 25% vesting on the first anniversary of the grant date and the remainder in equal quarterly installments through the fourth anniversary, subject to continued service.

Key Dates

Keywords

Progyny, PGNY, Kevin Gordon, Director, SEC Form 4, Insider Transaction, Restricted Stock Units, RSUs, Stock Options, Equity Compensation, Beneficial Ownership