Baldock Jennifer 4

What Happened
Jennifer Baldock, Surgery Partners' Chief Administrative & Development Officer, was granted restricted stock awards (RSAs) on March 5, 2026 totaling 106,307 shares at a reported grant value of roughly $1.50 million (three grants: 42,523 @ $14.11 = $600,000; 40,909 @ $14.11 = $577,226; 22,875 @ $14.11 = $322,766). The next day (March 6, 2026) she sold 10,082 shares in an open-market transaction at $13.70 per share for proceeds of $138,123. The grants are acquisitions (awards) — not open-market purchases — and vest over time per the grant terms; the sale was a routine disposition.

Key Details

• Grant date(s): March 5, 2026 — three RSA grants at $14.11 per share totaling 106,307 shares ($1,499,992).
• Sale: March 6, 2026 — 10,082 shares sold at $13.70 for $138,123.
• Vesting/footnotes:
  • F1: 42,523 RSAs vest in three equal annual installments beginning on the first anniversary of the grant.
  • F2: 40,909 RSAs vest in full on the first anniversary.
  • F3: 22,875 RSAs vest in full on the second anniversary.
  • F4: Notes prior sales to satisfy tax withholding for RSAs that vested on Feb 28, 2025 and Mar 2, 2025 (separate from the March 6, 2026 sale).
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Filing date: Report period March 5, 2026; Form 4 filed March 9, 2026. The filing appears timely unless otherwise flagged by the SEC.

Context

• RSAs are restricted stock awards that become freely owned only as they vest; these grants represent compensation/acquisition rather than an open-market purchase.
• The March 6 sale was an open-market disposition; without additional detail it could be routine (e.g., liquidity or portfolio rebalancing). Footnote F4 documents earlier share sales to cover tax withholding related to prior vesting events.
• For retail investors, new insider awards signal management compensation/retention and do not by themselves indicate immediate bullish or bearish intent; purchases (open-market buys) typically carry clearer positive signals than awards or routine sales.