Form 4: Progyny Executive Sturmer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Progyny's President, Michael E. Sturmer, disposed of shares to cover withholding taxes upon the vesting of restricted stock units.
Summary
- Michael E. Sturmer, President of Progyny, Inc., reported changes in beneficial ownership of the company's stock.
- On March 3, 2025, 363 shares of common stock were disposed of at a price of $22.53 per share to cover withholding taxes.
- On March 4, 2025, an additional 25,989 shares were disposed of at $22 per share for the same reason.
- Following these transactions, Sturmer directly owns 313,508 shares of Progyny common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track management's sentiment and actions regarding their company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely minimal given the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 03/03/2025 | 363 shares of common stock disposed of at $22.53 per share. |
| 03/04/2025 | 25,989 shares of common stock disposed of at $22 per share. |
| 03/05/2025 | Date of signature for the report. |
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