Form 4: Progyny Director Kevin Gordon Reports Stock Transactions

Progyny, Inc. Director Kevin Gordon reported transactions involving common stock and stock options on May 21, 2026.

Summary

• Kevin Gordon, a Director at Progyny, Inc., reported the acquisition of 6,792 shares of common stock on May 21, 2026, with no cost indicated.
• Additionally, Gordon acquired a stock option granting the right to buy 30,373 shares of common stock at an exercise price of $24.69 per share, also on May 21, 2026.
• Following these transactions, Gordon beneficially owns 14,818 shares of common stock directly and 12,501 shares indirectly through a revocable trust.
• The acquired restricted stock units (RSUs) and stock options are subject to vesting schedules, with full vesting expected by May 21, 2027, or the day before the issuer's first annual meeting of stockholders following the grant date, contingent on continued service.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents standard insider transactions related to equity compensation rather than significant strategic or financial events.

Positives

• Director Kevin Gordon acquired additional equity in the company through restricted stock units and stock options, indicating continued commitment.
• The acquisition of stock options at an exercise price of $24.69 suggests a potential for future gains if the stock price appreciates beyond this level.
• The reporting of these transactions is a standard disclosure, maintaining transparency with shareholders.

Negatives

• The filing does not provide details on the specific reasons for these transactions, such as a purchase or a grant.
• The indirect ownership of 12,501 shares through a trust may obscure the ultimate beneficial owner's direct control or intent.

Risks

• The vesting of RSUs and stock options is contingent on continued service, meaning any departure from the company before the vesting date would result in forfeiture.
• The exercise price of the stock options ($24.69) represents a potential downside if the stock price does not exceed this level, rendering the options worthless.

Future Outlook

The restricted stock units and stock options acquired by Director Kevin Gordon are set to vest on May 21, 2027, or the day before Progyny's first annual meeting of stockholders following the grant date, provided he remains in service. The stock options have an exercise price of $24.69.

Industry Context

StockSavvy.ai notes that insider transactions, such as those reported by Progyny Director Kevin Gordon on Form 4, are common in the health benefits technology sector. These filings provide transparency into the holdings and transactions of company insiders, which can be a signal to investors.

Stakeholder Impact

• Shareholders: Increased transparency regarding director's equity holdings and potential future share dilution upon option exercise.
• Employees: The vesting schedule for RSUs and options aligns with employee retention goals.
• Management: Reinforces the alignment of management's interests with those of shareholders through equity ownership.

Next Steps

• Vesting of restricted stock units and stock options on or before May 21, 2027, contingent on continued service.
• Potential exercise of stock options if the market price exceeds $24.69 per share.

Key Dates

Keywords

Progyny, PGNY, Form 4, Insider Trading, Stock Options, Restricted Stock Units, Director Transactions, Beneficial Ownership, SEC Filing