Oscar Health appoints Mark Bertolini CEO; Schlosser moves to President of Technology

Oscar Health, Inc.

Mark Bertolini (ex-Aetna CEO) becomes CEO and board member effective April 3, 2023; Mario Schlosser transitions to President of Technology.
Bertolini receives sign-on equity of 10.32M shares: 2.87M time-vested RSUs and 7.45M performance-vested PSUs with price targets of $11, $16, $39.
Founders Schlosser and Kushner cancel their PSU awards (total 6.34M shares), triggering a ~$46M non-cash charge in Q1 2023.
Inducement plan authorized shares increased from 5M to 18.32M to accommodate Bertolini's grants and annual employee awards.
Company reaffirms full-year 2023 guidance as originally issued on February 9, 2023.

item 5.02 item 7.01

Executive movements

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Appointed

Mark T. Bertolini

Chief Executive Officer

OSCR · Oscar Health, Inc.

Effective: 2023-04-03
Filed: March 28, 2023, 7:59 PM ET

Mark T. Bertolini will join the Company as Chief Executive Officer and a member of the Company’s Board of Directors

Role change

Mario Schlosser

President of Technology

OSCR · Oscar Health, Inc.

Effective: 2023-04-03
Filed: March 28, 2023, 7:59 PM ET

Co-founder Mario Schlosser will move into the role of President of Technology

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark T. Bertolini was appointed as Chief Executive Officer at Oscar Health, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Mark T. Bertolini will join the Company as Chief Executive Officer and a member of the Company’s Board of Directors

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mario Schlosser changed role as President of Technology at Oscar Health, Inc..

Action: moved into the role of
Role: President of Technology

Exact text from the filing

Co-founder Mario Schlosser will move into the role of President of Technology

View on SEC.gov

Oscar Health, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-081327

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