Form 4: Progyny EVP Sells Shares, Withholds for Taxes

Progyny's EVP and General Counsel, Allison Swartz, reported the sale of 2,398 shares and the withholding of 1,352 shares for taxes, both on November 28, 2025.

Summary

• Allison Swartz, Executive Vice President and General Counsel of Progyny, Inc., reported transactions involving the company's common stock.
• On November 28, 2025, 1,352 shares of common stock were withheld for the payment of withholding taxes upon the vesting of restricted stock units. The price per share for this transaction was $26.7.
• Also on November 28, 2025, 2,398 shares of common stock were sold at a price of $26.87 per share. This sale was executed pursuant to a Rule 10b5-1 trading plan established on May 13, 2025.
• Following these transactions, Allison Swartz beneficially owns 73,657 shares of Progyny, Inc. common stock directly.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to insider selling, but mitigated by the fact that a portion of the shares were withheld for taxes (a routine event) and the sales were conducted under a pre-planned 10b5-1 trading plan, suggesting a non-opportunistic transaction.

Positives

• The sale of 2,398 shares was conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled transaction rather than an opportunistic sale based on new, non-public information.

Negatives

• An executive's sale of shares, even if pre-planned, can sometimes be perceived negatively by investors as it reduces their direct ownership stake in the company.

Industry Context

This filing is a routine disclosure of insider stock transactions and does not provide information related to broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders may note the reduction in direct ownership by a key executive, which could be interpreted in various ways, though the pre-planned nature of the sale lessens potential concerns.

Key Dates

Recommendation

A single Form 4 reporting routine insider transactions, including tax withholding and pre-scheduled sales, provides insufficient information to alter a fundamental investment thesis. It is a standard disclosure and does not signal a significant change in company prospects, thus warranting a 'hold' recommendation based solely on this filing.

Keywords

Progyny, PGNY, Insider Transaction, Form 4, Stock Sale, Executive Compensation, 10b5-1 Plan, Restricted Stock Units, Tax Withholding