Michael Davidoff - Sep 12, 2023 Form 4 Insider Report for Phreesia, Inc. (PHR)

Signature
Alexis Lyons, as Attorney-in-Fact for Michael Davidoff
Stock symbol
PHR
Transactions as of
Sep 12, 2023
Transactions value $
-$132,880
Form type
4
Date filed
9/14/2023, 05:07 PM
Previous filing
Jul 25, 2023
Next filing
Oct 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PHR Common Stock Award +6.56K +7.01% 100K Sep 12, 2023 Direct F1
transaction PHR Common Stock Sale -$70.3K -3.46K -3.46% $20.30 96.7K Sep 13, 2023 Direct F2, F3
transaction PHR Common Stock Sale -$3.05K -144 -0.15% $21.20 96.5K Sep 13, 2023 Direct F2, F4
transaction PHR Common Stock Sale -$59.5K -2.95K -3.06% $20.16 93.6K Sep 14, 2023 Direct F5, F6
* 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 Represents Restricted Stock Units ("RSUs") that were fully vested as of the grant date. These RSUs represent awards received in lieu of the Reporting Person's cash bonus earned for the first half of the fiscal year ending January 31, 2024 under the Issuer's Senior Executive Cash Incentive Bonus Plan. The Reporting Person elected to convert such cash bonus into RSUs representing 115% of the earned cash bonus amount. The number of RSUs granted is based on a per share value of $21.27, the closing price of the Issuer's common stock on September 12, 2023.
F2 These shares were disposed of in non-discretionary transactions pursuant to the Issuer's mandatory sell-to-cover policy to cover the Reporting Person's tax withholding obligations in connection with the settlement of an award of RSUs.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.11 to $21.05 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to 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 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.17 to $21.24 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to 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.
F5 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 29, 2022.
F6 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.08 to $20.43 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to 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.