Form 4: Surgery Partners Director Sells Over 20,000 Shares

A director at Surgery Partners, Inc. sold 20,018 shares of common stock for approximately $22.74 per share.

Summary

• Patricia Anne Maryland, a Director of Surgery Partners, Inc. (SGRY), sold 20,018 shares of common stock.
• The transaction occurred on August 11, 2025, at a weighted average price of $22.74 per share.
• Following this sale, Patricia Anne Maryland beneficially owns 4,565 shares of Surgery Partners, Inc. common stock.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by a director, while potentially pre-planned under a 10b5-1 arrangement, can still be interpreted as a slight negative signal regarding insider confidence.

Positives

• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), suggesting a pre-scheduled sale rather than a reaction to immediate company news.

Negatives

• Patricia Anne Maryland, a Director, sold 20,018 shares of common stock, reducing her direct beneficial ownership in Surgery Partners, Inc. from an implied 24,583 shares to 4,565 shares.
• Insider selling, even if pre-planned, can sometimes be perceived by the market as a lack of confidence in the company's future prospects.

Risks

• Potential investor perception of reduced insider confidence due to the sale of a substantial number of shares by a director.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Sale of 20,018 shares of common stock by Patricia Anne Maryland, a Director of Surgery Partners, Inc., to the open market.

Stakeholder Impact

• Shareholders may interpret the director's sale as a signal of reduced confidence, potentially leading to negative sentiment or downward pressure on the stock price.

Key Dates

Recommendation

While a director's sale of a substantial number of shares can raise questions about insider confidence, the indication that the transaction was made pursuant to a Rule 10b5-1 plan suggests it was a pre-scheduled event rather than a reaction to new negative information. Without further context on the company's performance or other insider activity, a 'hold' recommendation is appropriate, advising investors to monitor future filings and company developments.

Keywords

Surgery Partners, SGRY, insider trading, stock sale, director, Form 4, beneficial ownership