secwatch.observer — SEC 8-K summary
======================================

Issuer:     Progyny, Inc. (PGNY)
CIK:        0001551306
Form:       8-K
Filed at:   2026-03-13T23:59:59+00:00
Accession:  0001551306-26-000040
Event type: litigation
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1551306/000155130626000040/0001551306-26-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1551306/000155130626000040/pgny-20260126.htm
  HTML page:      https://secwatch.observer/filing/0001551306-26-000040

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