HIT Director Gains Major Stake: 128K Shares Tied to One-Year Service Agreement
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Director Sanjay Shrestha of Health In Tech received a grant of 128,474 restricted shares of Class A Common Stock at $0.62 per share on June 23, 2025, as reported in this Form 4 filing.
Key details of the stock grant:
- Shares were granted under the Health in Tech Equity Incentive Plan
- Vesting conditions include: - Full vesting after one year of service from April 8, 2025, or - Partial vesting at first shareholders' meeting based on service period ratio
- Direct ownership form of securities
- Vesting subject to continuous service requirement
This equity grant appears to be part of director compensation and aligns the director's interests with shareholders through a one-year vesting schedule.
Positive
- Director Sanjay Shrestha received 128,474 restricted shares at $0.62 per share, valued at approximately $79,654, demonstrating alignment with shareholder interests through equity-based compensation
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Shrestha Sanjay K
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 128,474 | $0.62 | $80K |
Holdings After Transaction:
Class A Common Stock — 128,474 shares (Direct)
Footnotes (1)
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FAQ
What is the vesting schedule for HIT Director Shrestha's restricted stock grant?
The restricted shares vest either (i) fully after one year of service from April 8, 2025, or (ii) partially at the first shareholders' meeting based on a pro-rata calculation of time served divided by 12 months, subject to continuous service through the vesting date.
What was the total value of HIT restricted stock granted to Sanjay Shrestha?
Based on the acquisition price of $0.62 per share and 128,474 shares granted, the total value of the restricted stock grant was approximately $79,654.
What position does Sanjay Shrestha hold at Health In Tech (HIT)?
According to the Form 4 filing, Sanjay Shrestha serves as a Director of Health In Tech (HIT). This is indicated by the 'X' marked in the Director box under the Relationship of Reporting Person(s) to Issuer section.
Where is HIT Director Sanjay Shrestha based?
According to the Form 4 filing, Sanjay Shrestha's address is listed as 701 S. Colorado Ave, Suite 1, Stuart, FL 34994.