David J. Schlanger - Dec 14, 2023 Form 4 Insider Report for Progyny, Inc. (PGNY)

Role
Executive Chairman, Director
Signature
/s/ Mark Livingston, Attorney-in-Fact
Stock symbol
PGNY
Transactions as of
Dec 14, 2023
Transactions value $
-$35,691
Form type
4
Date filed
12/18/2023, 07:39 PM
Previous filing
Nov 22, 2023
Next filing
Dec 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PGNY Common Stock Options Exercise $4.2K +1.06K +1.2% $3.95* 89.5K Dec 14, 2023 Direct F1
transaction PGNY Common Stock Sale -$39.9K -1.06K -1.19% $37.53 88.4K Dec 14, 2023 Direct F2, F3

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 PGNY Stock Option (Right to Buy) Options Exercise $0 -1.06K -0.06% $0.00 1.87M Dec 14, 2023 Common Stock 1.06K $3.95 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Due to a clerical error in the initial report of this option grant, the conversion price is being updated to reflect the true and accurate conversion price on the date of grant. This error was recently discovered as this is the first exercise of options under this grant for the Reporting Person.
F2 Shares sold pursuant to a Rule 10b5-1 trading plan entered into on June 23, 2023.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.50 to $37.70, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 These options are fully vested and exercisable.