Capital International Discloses 3.13M-Share, 5.3% Position in Phreesia (PHR)

Rhea-AI Filing Summary

Capital International Investors reports beneficial ownership of 3,134,872 shares of Phreesia, Inc., representing 5.3% of the approximately 59,504,269 shares outstanding. The filing states that CII, a division of Capital Research and Management Company and its investment management affiliates, is deemed the beneficial owner through its investment management entities.

The filing indicates CII holds sole voting and sole dispositive power over these shares and includes a certification that the securities are held in the ordinary course of business and not to influence control. The filing also names SMALLCAP World Fund, Inc. in connection with ownership on behalf of another person.

Positive

• Disclosure of a material institutional position: CII reports beneficial ownership of 3,134,872 shares (5.3%) of Phreesia.
• Sole voting and dispositive power: The filer indicates sole power to vote and dispose of the reported shares, clarifying control of the position.
• Passive intent certified: Item 10 certification states the securities are held in the ordinary course of business and not to influence control.

Negative

• None.

Insights

Financial Analyst

TL;DR: A large institutional investor discloses a passive 5.3% stake with sole voting and dispositive power, a routine but material ownership disclosure.

Capital International Investors' reported position of 3,134,872 shares (5.3%) constitutes a meaningful minority stake that can attract market attention but, per the Schedule 13G certification, is presented as passive and not intended to influence control. For investors, the key facts are the size of the holding relative to the company's ~59.5 million shares outstanding and that power is exercised solely by CII rather than jointly. This type of disclosure clarifies ownership concentration and potential institutional interest without signaling an activist intent.

Corporate Governance Expert

TL;DR: The filing is a standard governance disclosure showing sole control over a >5% stake, declared as held in the ordinary course.

From a governance perspective, the Schedule 13G emphasizes that CII has sole voting and dispositive authority for the 3,134,872 shares but certifies the position as passive. Naming of SMALLCAP World Fund, Inc. under Item 6 identifies a fund on whose behalf shares may be held. Because the filer used a 13G-style disclosure and included the ordinary-course certification, this does not signal an intention to seek board seats or change control, but it does increase shareholder concentration and should be noted in any governance review.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Phreesia, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

71944F106

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 71944F106

1

Names of Reporting Persons

Capital International Investors

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,134,872.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,134,872.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,134,872.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Phreesia, Inc.
(b)	Address of issuer's principal executive offices: 1521 CONCORD PIKE, SUITE 301 PMB 221, WILMINGTON, DE 19803
Item 2.
(a)	Name of person filing: Capital International Investors
(b)	Address or principal business office or, if none, residence: 333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 71944F106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,134,872 ** **Capital International Investors ("CII") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CII's divisions of each of the investment management entities collectively provide investment management services under the name "Capital International Investors." CII is deemed to be the beneficial owner of 3,134,872 shares or 5.3% of the 59,504,269 shares believed to be outstanding.
(b)	Percent of class: 5.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,134,872
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,134,872
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. SMALLCAP World Fund, Inc.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Capital International Investors

Signature:	Jae Won Chung
Name/Title:	Vice President and Senior Counsel II, Capital Research and Management Company
Date:	08/12/2025

FAQ

What stake does Capital International Investors hold in Phreesia (PHR)?

Capital International Investors holds 3,134,872 shares, representing 5.3% of Phreesia's outstanding common stock.

Does Capital International Investors have voting control over the PHR shares?

Yes. The filing reports sole voting power and sole dispositive power for all 3,134,872 shares.

Is this filing a Schedule 13G or 13D for PHR and what does that indicate?

It is a Schedule 13G filing, which indicates the filer reports the position as passive and includes a certification that the shares are held in the ordinary course of business and not to influence control.

Are the shares held on behalf of any fund or other person?

Yes. The filing lists SMALLCAP World Fund, Inc. in Item 6 in connection with ownership on behalf of another person.

How many shares outstanding does the filing reference for Phreesia?

Approximately 59,504,269 shares outstanding are referenced in the filing as the basis for the 5.3% calculation.