Form 4: Progyny Director Norman Payson Reports Acquisition of Equity Compensation

Progyny, Inc. Director Norman Payson has reported the acquisition of 6,689 restricted stock units and 30,401 stock options, effective May 22, 2025, as part of his compensation.

Summary

• Norman Payson, a Director of Progyny, Inc. (PGNY), reported transactions on May 22, 2025, as detailed in a Form 4 filing.
• He acquired 6,689 shares of Issuer common stock in the form of Restricted Stock Units (RSUs) at an acquisition price of $0. These RSUs represent a contingent right to receive one share of common stock each and are scheduled to vest on May 22, 2026, contingent upon his continued service.
• Additionally, Mr. Payson acquired 30,401 stock options with an exercise price of $20.89. These options will also vest on May 22, 2026, subject to his continued service, and have an expiration date of May 21, 2035.
• Following these transactions, Norman Payson directly beneficially owns 20,730 shares of common stock.
• He indirectly beneficially owns 281,098 shares through The Norman C. and Melinda B. Payson Revocable Trust.
• He also indirectly beneficially owns 122,493 shares through EVO Eagle, LLC, over which he shares voting and dispositive power.
• The total number of common shares beneficially owned by Mr. Payson after these reported transactions is 424,321 (20,730 direct + 281,098 indirect + 122,493 indirect).
• The total number of derivative securities (stock options) beneficially owned after the transactions is 30,401.

Sentiment

Score: 7

Explanation: The acquisition of equity by a director, particularly through compensation grants, generally indicates continued commitment and alignment with the company's long-term success, which is a positive signal for investors.

Positives

• Director Norman Payson acquired 6,689 Restricted Stock Units (RSUs) and 30,401 stock options, indicating continued alignment of his interests with shareholder value.
• The acquisition of these securities as part of a compensation package reinforces management's commitment and incentivizes long-term service and performance.

Future Outlook

The vesting of the acquired Restricted Stock Units and stock options on May 22, 2026, is contingent upon the Reporting Person's continued service, aligning future compensation with ongoing contributions to the company.

Industry Context

This Form 4 filing reflects routine insider compensation and ownership changes for a director at Progyny, Inc., a company operating in the fertility and family building benefits management sector. Such filings are standard disclosures for public companies and their insiders, providing transparency on executive and director equity holdings.

Stakeholder Impact

• Shareholders: The acquisition of equity by a director aligns management's interests with shareholders, potentially signaling confidence in future performance and long-term value creation.
• Employees: While this specific filing is for a director, the use of equity compensation (RSUs, options) is a common incentive mechanism across companies, which can positively influence employee retention and motivation.

Next Steps

• Continued service of Norman Payson until May 22, 2026, for the vesting of the acquired Restricted Stock Units and stock options.

Key Dates

Recommendation

Keywords

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