VSee Health (VSEE) CFO awarded retention and compensation stock grants

Rhea-AI Filing Summary

VSee Health, Inc. reported that its Chief Financial Officer, Jerry Leonard, acquired several blocks of common stock on September 19, 2025. He received 300,000 shares as a retention bonus under the company’s 2024 Incentive Plan at a stated price of $0 per share. He was also issued 135,724 shares under the same plan in lieu of $295,880 of unpaid cash compensation for services provided during the 2022–2025 fiscal years, based on a per share price of $2.18. In addition, he was granted 125,000 shares for services rendered to VSee Lab, Inc. and iDoc Virtual Telehealth Solutions, Inc. prior to VSee Health’s June 2024 business combination. All positions are reported as directly owned common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Leonard Jerry

(Last) (First) (Middle)

C/O VSEE HEALTH, INC.,

980 N. FEDERAL HWY #304

(Street)

BOCA RATON FL 33432

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
VSEE HEALTH, INC. [ VSEE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.0001 per share	09/19/2025		A(1)		300,000	A	$0	560,724	D
Common Stock, par value $0.0001 per share	09/19/2025		A(2)		135,724	A	$2.18	260,724	D
Common Stock, par value $0.0001 per share	09/19/2025		A(3)		125,000	A	$0	125,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reflects shares of common stock granted to the reporting person as a retention bonus under the issuer's 2024 Incentive Plan.

2. Reflects shares of common stock issued to the reporting person under the issuer's 2024 Incentive Plan in lieu of an aggregate of $295,880 of unpaid cash compensation that was owed by the issuer and its subsidiaries and predecessors to the reporting person for services rendered during the 2022, 2023, 2024 and 2025 fiscal years. The number of shares issued to the reporting person is based on a per share price of $2.18.

3. Reflects shares of common stock granted to the reporting person under the issuer's 2024 Incentive Plan in connection with services rendered to VSee Lab, Inc.and iDoc Virtual Telehealth Solutions, Inc. prior to the issuer's June 2024 business combination.

	/s/ Jerry Leonard	01/07/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider activity did VSEE report for its CFO on this Form 4?

The filing shows that VSee Health, Inc. Chief Financial Officer Jerry Leonard acquired multiple grants of common stock on September 19, 2025 under the company’s 2024 Incentive Plan.

How many VSEE shares did the CFO receive as a retention bonus?

Jerry Leonard was granted 300,000 shares of VSee Health, Inc. common stock as a retention bonus under the 2024 Incentive Plan at a stated price of $0 per share.

What amount of unpaid compensation was converted into VSEE stock for the CFO?

The CFO received 135,724 shares issued in lieu of $295,880 of unpaid cash compensation for services rendered during the 2022, 2023, 2024 and 2025 fiscal years, based on a per share price of $2.18.

Why did VSEE grant an additional 125,000 shares to the CFO?

An additional 125,000 shares of common stock were granted to Jerry Leonard under the 2024 Incentive Plan for services rendered to VSee Lab, Inc. and iDoc Virtual Telehealth Solutions, Inc. prior to VSee Health’s June 2024 business combination.

Are the reported VSEE shares held directly or indirectly by the CFO?

All of the reported common stock positions are shown as directly owned by the CFO, with no indirect ownership entity noted in the filing.

What is Jerry Leonard’s role at VSee Health, Inc.?

Jerry Leonard is identified in the filing as an officer of VSee Health, Inc., serving as the company’s Chief Financial Officer.