Michael T. Pykosz - Feb 21, 2022 Form 4 Insider Report for Oak Street Health, Inc. (OSH)

Role: Chief Executive Officer, Director
Signature: /s/ Robert Guenthner, attorney-in-fact for Michael Pykosz
Stock symbol: OSH
Transactions as of: Feb 21, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/23/2022, 04:25 PM
Previous filing: Mar 9, 2022
Next filing: Aug 4, 2022

Transactions Table

Type	Sym	Class	Shares After	Date	Ownership
holding	OSH	Common Stock, $0.001 par value	7.35M	Feb 21, 2022	Direct
holding	OSH	Common Stock, $0.001 par value	790K	Feb 21, 2022	Through Mike Pykosz Gift Trust
holding	OSH	Common Stock, $0.001 par value	250K	Feb 21, 2022	Through Lindsay Pykosz Revocable Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	OSH	Performance Stock Option (Right to Buy)	Award	$0	+1.59M		$0.00	1.59M	Feb 21, 2022	Common Stock, par value $0.001	1.59M	$15.75	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Subject to the Reporting Person remaining a service provider through the applicable vesting date, 50% of the shares issuable upon exercise of this Option shall vest on or after December 31, 2023 on the date that the Committee certifies the achievement of the Performance Metric for the First Performance Period and 50% of the shares issuable upon exercise of this Option shall vest on or after December 31, 2024 on the date that the Committee certifies the achievement of the Performance Metric for the Second Performance Period. The Performance Metric is based on satisfaction of certain thresholds related to Platform Contribution. Platform Contribution means the amount calculated by the following formula: (i) total gross revenue for each of the Company's care delivery centers minus, (ii) for each such center, the sum of (a) medical claims expense and (b) cost of care, excluding depreciation and amortization for the applicable period.

Content

Subject to the Reporting Person remaining a service provider through the applicable vesting date, 50% of the shares issuable upon exercise of this Option shall vest on or after December 31, 2023 on the date that the Committee certifies the achievement of the Performance Metric for the First Performance Period and 50% of the shares issuable upon exercise of this Option shall vest on or after December 31, 2024 on the date that the Committee certifies the achievement of the Performance Metric for the Second Performance Period. The Performance Metric is based on satisfaction of certain thresholds related to Platform Contribution. Platform Contribution means the amount calculated by the following formula: (i) total gross revenue for each of the Company's care delivery centers minus, (ii) for each such center, the sum of (a) medical claims expense and (b) cost of care, excluding depreciation and amortization for the applicable period.