Form 4: SelectQuote Director Thomas Grant II Acquires Shares Through RSU Vesting

Director Thomas Grant II of SelectQuote, Inc. acquired 94,890 shares of common stock through the vesting of restricted stock units and was granted an additional 52,631 RSUs.

Summary

• Thomas Grant II, a director at SelectQuote, Inc., acquired 94,890 shares of common stock on November 12, 2024, through the vesting of restricted stock units (RSUs).
• These RSUs were granted under the company's 2020 Omnibus Incentive Plan.
• Additionally, Mr. Grant was granted 52,631 new RSUs that will vest at the company's 2025 annual meeting of stockholders, contingent on his continued service as a director.
• Mr. Grant also holds a significant number of shares indirectly through various trusts and IRAs, including 1,345,424 shares through the W. Thomas Grant II Family Irrevocable Trust, 355,760 shares through a Fidelity IRA, 220,100 shares through the Frances D. Grant Trust, and 35,601 shares through a Mainstar Trust IRA.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation. It is a positive sign that the director is vested in the company's success, but it is not a major event that would significantly impact the company's outlook.

Positives

• The vesting of RSUs indicates that Mr. Grant has met the performance or time-based criteria associated with the grant.
• The grant of additional RSUs aligns the director's interests with the long-term performance of the company.
• The large number of shares held by Mr. Grant demonstrates a significant stake in the company's success.

Future Outlook

The newly granted RSUs will vest at the company's 2025 annual meeting of stockholders, contingent on Mr. Grant's continued service as a director.

Industry Context

This is a standard transaction for a company that uses equity-based compensation for its directors. It is common for directors to receive RSUs that vest over time, aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Equity compensation, such as RSUs, is a common practice among publicly traded companies to incentivize and retain board members.
• The vesting schedule of the RSUs, with full vesting at the 2025 annual meeting, is typical for director compensation packages.
• Companies like eHealth, Inc. and GoHealth, Inc., which operate in similar sectors, also utilize equity-based compensation for their directors.

Stakeholder Impact

• The vesting of RSUs and the grant of new RSUs align the director's interests with those of the shareholders.
• The transaction does not have a direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The newly granted RSUs will vest at the company's 2025 annual meeting of stockholders, contingent on Mr. Grant's continued service as a director.

Key Dates

Keywords

SelectQuote, Director, Thomas Grant II, Restricted Stock Units, RSU, Share Acquisition, Beneficial Ownership, Omnibus Incentive Plan, Stock Vesting