Health In Tech CEO gets 1.5M-share acquisition award
The grants include service-based vesting and performance conditions tied to acquisition milestones with deadlines in 2028.
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Rhea-AI Filing Summary
Health In Tech, Inc. Chief Executive Officer Sanjay K. Shrestha received four stock grant awards on October 20, 2026: three awards of Class A Common Stock—2,000,000 restricted shares and two awards of 1,500,000 shares each tied to performance-based milestones—and a 500,000-share Class B Common Stock award tied to the April 30, 2028 milestone. The Class B award left reported direct holdings of 500,000 Class B shares following the transaction.
The 2,000,000 restricted shares vest in 12 equal monthly installments beginning November 1, 2026, subject to continued service. The 1,500,000-share award tied to the December 31, 2028 milestone vests in full upon closing of a qualifying acquisition, subject to continued service through closing. The other Class A award and the Class B award vest in 12 equal monthly installments, subject to continued service, if the milestone is achieved by April 30, 2028.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock F1 | 2,000,000 | $0.00 | $0.00 |
| Grant/Award | Class A Common Stock F2 | 1,500,000 | $0.00 | $0.00 |
| Grant/Award | Class A Common Stock F3 | 1,500,000 | $0.00 | $0.00 |
| Grant/Award | Class B Common Stock F4 | 500,000 | $0.00 | $0.00 |
Footnotes (4)
- F1. Represents restricted shares granted to the reporting person pursuant to the Health in Tech Equity Incentive Plan upon his appointment as CEO ("Shares"). Such Shares vest in twelve equal monthly installments, commencing November 1, 2026, subject to continued service through the applicable vesting date.
- F2. Represents Shares which shall be automatically forfeited without consideration unless a performance-based acquisition milestone is achieved by December 31, 2028. Such Shares vest in full upon the closing of a qualifying acquisition, subject to continued service through such closing.
- F3. Represents Shares which shall be automatically forfeited without consideration unless a certain performance-based milestone (the "Milestone") is achieved by April 30, 2028 (the "Achievement Date"). Such Shares vest in twelve equal monthly installments, subject to continued service. If the Achievement Date falls before the 15th calendar day of the month, vesting commences on such 15th day, and if after, commences on the 1st day of the next calendar month.
- F4. Represents Shares which shall be automatically forfeited without consideration unless the Milestone is achieved by the Achievement Date. Such Shares vest in twelve equal monthly installments, subject to continued service. If the Achievement Date falls before the 15th calendar day of the month, vesting commences on such 15th day, and if after, commences on the 1st day of the next calendar month.
Key Figures
Key Terms
performance-based acquisition milestone financial
qualifying acquisition financial
automatically forfeited without consideration financial
FAQ
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What stock awards did HIT CEO Sanjay K. Shrestha receive?
How do Sanjay K. Shrestha’s HIT stock grants vest?
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