---
schema_version: "secwatch.filing_event.v1"
accession: "0001551306-26-000040"
form_type: "8-K"
ticker: "PGNY"
cik: "0001551306"
company_name: "Progyny, Inc."
filed_at: "2026-03-13T23:59:59+00:00"
generated_at: "2026-05-15T12:33:35.964382+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Progyny settles derivative suit over director pay; caps annual comp at $288k per director

## Summary
- Derivative action challenged non-employee director compensation since 2020; settlement includes governance reforms.
- New policy caps annual director awards at $48k cash and $240k equity, total $288k per director.
- Committee chairs and lead independent director receive additional cash awards ($25k, $20k, $15k, $40k).
- Plaintiff's counsel to receive $450,000 in fees/expenses from defendants/insurers, subject to court approval.
- Settlement hearing set for May 28, 2026; reforms must be maintained for at least 4 years.

## SEC filing metadata
- accession: 0001551306-26-000040
- form_type: 8-K
- ticker: PGNY
- cik: 0001551306
- company_name: Progyny, Inc.
- filed_at: 2026-03-13T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1551306/000155130626000040/0001551306-26-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1551306/000155130626000040/pgny-20260126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001551306-26-000040
- JSON: https://secwatch.observer/filing/0001551306-26-000040.json
- Plain text: https://secwatch.observer/filing/0001551306-26-000040.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.