secwatch.observer — SEC 8-K summary
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Issuer:     Oscar Health, Inc. (OSCR)
CIK:        0001568651
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0001193125-23-081327
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568651/000119312523081327/0001193125-23-081327-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568651/000119312523081327/d487122d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-081327

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer