Form 4: Progyny Executive Chairman Schlanger Exercises Options and Sells Shares
SEC Form 4 Filing
David J. Schlanger, Executive Chairman of Progyny, Inc., exercised stock options and sold shares on April 1, 2024, according to a Form 4 filing with the SEC.
Summary
- On April 1, 2024, David J. Schlanger, the Executive Chairman of Progyny, Inc., exercised stock options to acquire 1,000 shares of common stock at a price of $3.95 per share.
- Simultaneously, Schlanger sold 1,000 shares of common stock at a weighted average price of $37.5225 per share, with individual sales ranging from $37.50 to $37.61.
- Additionally, 2,681 shares were withheld for payment of withholding taxes upon the vesting of restricted stock units.
- Following these transactions, Schlanger directly owns 83,631 shares of Progyny common stock and 1,309,022 derivative securities (stock options).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions by an executive, which are part of a pre-existing trading plan and tax obligations.
Industry Context
This filing reflects routine transactions by a company executive and is typical for executives holding stock options and participating in company stock plans. It is common for executives to sell shares to cover tax obligations or diversify their holdings.
Key Dates
| Date | Description |
|---|---|
| 06/23/2023 | Date of entry into Rule 10b5-1 trading plan |
| 04/01/2024 | Date of transaction: Exercise of stock options and sale of shares |
| 04/03/2024 | Date of signature on the Form 4 filing |
| 05/23/2029 | Expiration date of stock options |
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