Form 4: Progyny Director Reports Stock Transactions

Progyny, Inc. Director Roger C. Holstein reported transactions involving common stock and stock options on May 21, 2026.

Summary

• Roger C. Holstein, a Director at Progyny, Inc., reported the acquisition of 6,792 shares of common stock on May 21, 2026, valued at $0.
• Additionally, Holstein acquired stock options to purchase 4,003 shares of common stock at an exercise price of $24.69, and another 29,289 shares of common stock at an exercise price of $24.69, both on May 21, 2026.
• These transactions are related to restricted stock units (RSUs) and stock options granted in lieu of an annual cash retainer for board and committee service.
• The RSUs and options are subject to vesting conditions, including continued service and specific dates related to the company's annual meetings.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily details routine compensation-related stock transactions by a director rather than significant strategic shifts or performance indicators.

Positives

• Director Roger C. Holstein acquired a significant number of common stock shares (6,792) and stock options (33,292 total).
• The acquisition of stock options indicates a potential for future value appreciation for the director.
• The transactions are structured with vesting schedules tied to continued service, aligning the director's interests with the company's long-term performance.

Negatives

• The reported acquisition of 6,792 common stock shares was valued at $0, suggesting these were likely granted as part of a compensation package rather than purchased.
• The exercise price for the stock options is $24.69, meaning the director will only realize profit if the stock price exceeds this level upon exercise.

Risks

• The vesting of RSUs and stock options is contingent upon the reporting person's continued service, meaning a departure from the company before vesting would result in forfeiture.
• The value of the acquired stock options is directly tied to the future performance of Progyny, Inc.'s stock price, which is subject to market volatility and company-specific risks.

Future Outlook

The future outlook for the acquired stock options and RSUs is dependent on Progyny, Inc.'s stock performance and the reporting person's continued service, with vesting occurring by May 21, 2027, or the day before the company's first annual meeting after the grant date.

Industry Context

StockSavvy.ai notes that insider transactions, such as those reported by Progyny, Inc. Director Roger C. Holstein, are common in the health benefits management sector. These filings provide transparency into how company insiders are managing their equity holdings, often reflecting compensation structures and confidence in future performance.

Related Party Transactions

• The acquisition of stock options was issued to the Reporting Person in lieu of an annual cash retainer for board and committee service, representing a related party transaction between the company and its director.

Stakeholder Impact

• Shareholders: The transactions reflect standard director compensation practices and do not immediately indicate a change in share ownership structure, but the vesting and potential exercise of options could impact future share count.
• Employees: The compensation structure for directors, including equity awards, is part of the company's overall governance and compensation philosophy.
• Management: The filing details compensation arrangements for a key member of the board.

Next Steps

• Vesting of RSUs and stock options on or before May 21, 2027, subject to continued service.
• Potential exercise of stock options by Roger C. Holstein if the stock price exceeds the exercise price of $24.69.

Key Dates

Keywords

Progyny, PGNY, Form 4, SEC Filing, Insider Trading, Stock Options, Restricted Stock Units, Director Compensation, Beneficial Ownership, Securities Exchange Act