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Oscar Health, Inc. Announces Inducement Grants under Section 303A.08 of the NYSE Listed Company Manual
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Oscar Health, Inc. (NYSE: OSCR) announced on June 8, 2022, that its Board of Directors approved the grant of 992,382 restricted stock unit awards to 29 non-executive employees. This grant is intended to incentivize these new hires under Oscar’s 2022 Employment Inducement Award Plan. The awards will generally vest quarterly over three years, contingent on continued employment. Oscar Health, founded in 2012 and headquartered in New York City, aims to enhance healthcare access through its technology-driven health insurance model.
Positive
Approval of 992,382 restricted stock unit awards to attract new talent.
Awards vesting over three years encourages long-term employment.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance company built on a full stack technology platform, announced that on June 8, 2022 the Compensation Committee of Oscar’s Board of Directors approved the grant of inducement restricted stock unit awards covering 992,382 Class A shares of Oscar’s common stock to 29 new non-executive employees of Oscar and its affiliates to induce them to join Oscar and its affiliates. The awards were granted under Oscar’s 2022 Employment Inducement Award Plan, and generally vest quarterly over a three-year period following their grant, subject to continued employment. The awards were granted as employment inducement awards pursuant to the New York Stock Exchange rules.
About Oscar Health
Oscar Health, Inc. is the first health insurance company built around a full stack technology platform and a relentless focus on serving its members. At Oscar, our mission is to make a healthier life accessible and affordable for all. Headquartered in New York City, Oscar has been challenging the healthcare system’s status quo since our founding in 2012. The Company’s member-first philosophy and innovative approach to care has earned us the trust of over one million members as of March 31, 2022. We offer Individual & Family, Small Group and Medicare Advantage plans, and +Oscar, our full stack technology platform to others within the provider and payor space. Our vision is to refactor healthcare to make good care cost less. Refactor is a term used in software engineering that means to improve the design, structure, and implementation of the software, while preserving its functionality. At Oscar, we take this definition a step further. We improve our members’ experience by building trust through deep engagement, personalized guidance, and rapid iteration.
