Oscar Health, Inc. Announces Inducement Grants under Section 303A.08 of the NYSE Listed Company Manual

Rhea-AI Summary

Oscar Health, Inc. (NYSE: OSCR) announced on April 13, 2022, that its Board's Compensation Committee approved the grant of 311,192 Class A restricted stock units to 21 new non-executive employees. This is part of Oscar's 2022 Employment Inducement Award Plan, aimed at attracting talent. The awards vest quarterly over three years, contingent upon continued employment. Oscar, founded in 2012, operates as a technology-driven health insurance provider with over one million members as of January 2022, offering various insurance plans while focusing on a member-first philosophy.

Positive

• Grant of 311,192 restricted stock units to attract 21 new employees.
• Stock awards vest quarterly over three years, enhancing employee retention.

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• 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 April 13, 2022, the Compensation Committee of Oscar’s Board of Directors approved the grant of inducement restricted stock unit awards covering 311,192 Class A shares of Oscar’s common stock to twenty-one (21) 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, 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 January 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.
For more information, please visit www.hioscar.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220415005147/en/

IR:

Cornelia Miller, Oscar

917-397-0251

cornelia@hioscar.com

MEDIA:

Jackie Kahn, Oscar

202-538-0128

jkahn@hioscar.com

Source: Oscar Health, Inc.

FAQ

What is the recent stock grant announcement by Oscar Health (OSCR)?

On April 13, 2022, Oscar Health announced the approval of 311,192 restricted stock units to 21 new non-executive employees to incentivize joining the company.

How will the restricted stock units for OSCR employees vest?

The restricted stock units will vest quarterly over a three-year period, subject to continued employment.

What is the purpose of Oscar Health's restricted stock awards?

The restricted stock awards are intended to attract and retain new talent under the 2022 Employment Inducement Award Plan.

How many employees are receiving stock options at Oscar Health?

A total of 21 new non-executive employees are receiving the stock options.