Form 4: Progyny President Disposes of Shares for Tax Withholding Upon RSU Vesting

Progyny, Inc. President Michael E. Sturmer reported the disposition of 7,977 common shares at $21.98 each, primarily for tax withholding purposes related to restricted stock unit vesting.

Summary

• Michael E. Sturmer, President of Progyny, Inc., reported a transaction on June 4, 2025, involving the disposition of shares.
• The transaction consisted of 7,977 shares of Progyny Common Stock disposed of at a price of $21.98 per share.
• This disposition was explicitly for the payment of withholding taxes upon the vesting of restricted stock units (RSUs) previously granted to Mr. Sturmer.
• Following this reported transaction, Mr. Sturmer's direct beneficial ownership stands at 305,083 shares of Progyny Common Stock.

Sentiment

Score: 5

Explanation: The transaction is a routine tax withholding related to RSU vesting, which is a neutral event. It does not represent a discretionary sale or purchase, thus indicating no strong positive or negative sentiment regarding the company's future performance or valuation.

Positives

• The transaction represents the vesting of restricted stock units (RSUs) for the Reporting Person, indicating a routine compensation event and the fulfillment of long-term incentive plans.

Negatives

• 7,977 shares of common stock were disposed of, which reduces the direct beneficial ownership of the Reporting Person, although this was for tax purposes rather than a discretionary sale.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing details a routine insider transaction related to executive compensation (RSU vesting and tax withholding), which is a common occurrence across publicly traded companies and does not directly reflect broader industry trends.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary disposition for tax purposes, not indicative of a change in management's confidence.
• Employees: No direct impact on the broader employee base is indicated by this specific transaction.

Key Dates

Keywords

Progyny, PGNY, Form 4, SEC filing, insider transaction, stock disposition, restricted stock units, RSU vesting, tax withholding, Michael Sturmer