Oscar Health Files 8-K on Financials and Executive Changes
Ticker: OSCR · Form: 8-K · Filed: Feb 4, 2025 · CIK: 1568651
Sentiment: neutral
Topics: financial-reporting, executive-changes, board-changes
Related Tickers: OSCR
TL;DR
Oscar Health 8-K: Financials updated, execs out/in, board changes. Watch closely.
AI Summary
Oscar Health, Inc. filed an 8-K on January 29, 2025, reporting on its results of operations and financial condition. The filing also disclosed the departure of directors or certain officers, the election of directors, the appointment of certain officers, and details on compensatory arrangements for certain officers. Exhibits related to financial statements were also included.
Why It Matters
This filing provides crucial updates on Oscar Health's financial performance and significant changes in its leadership, which can impact investor confidence and strategic direction.
Risk Assessment
Risk Level: medium — Changes in executive officers and board composition, alongside financial reporting, can indicate internal shifts that may affect future performance.
Key Players & Entities
- Oscar Health, Inc. (company) — Registrant
- 001-40154 (company) — SEC File Number
- January 29, 2025 (date) — Date of earliest event reported
- 75 Varick Street, 5th Floor (location) — Principal Executive Offices
- New York, New York 10013 (location) — Principal Executive Offices
FAQ
What specific financial results are being reported by Oscar Health, Inc. in this 8-K?
The 8-K indicates reporting on 'Results of Operations and Financial Condition' but does not provide specific figures within the provided text.
Which directors or officers have departed from Oscar Health, Inc. as reported in this filing?
The filing mentions 'Departure of Directors or Certain Officers' but does not name the individuals involved in the provided text.
Were there any new director elections or officer appointments at Oscar Health, Inc. on or around January 29, 2025?
Yes, the filing explicitly states 'Election of Directors' and 'Appointment of Certain Officers' as items reported.
What is the significance of the 'Compensatory Arrangements of Certain Officers' mentioned in the filing?
This indicates that the filing includes details regarding the compensation packages or arrangements for specific executive officers of Oscar Health, Inc.
What is the primary purpose of filing an 8-K form for Oscar Health, Inc. on January 29, 2025?
The primary purpose is to publicly disclose material events, including financial condition, results of operations, and changes in corporate governance such as director and officer appointments/departures.
Filing Stats: 1,679 words · 7 min read · ~6 pages · Grade level 11.3 · Accepted 2025-02-04 16:07:19
Key Financial Figures
- $0.00001 — hich registered Class A Common Stock, $0.00001 par value per share OSCR New York Stock
- $600,000 — Employment Agreement provides for (i) a $600,000 annual base salary; (ii) a target annua
- $3,000,000 — ual equity award with a target value of $3,000,000; (iv) a cash award in the amount of $80
- $800,000 — 000; (iv) a cash award in the amount of $800,000 for each of calendar years 2025 through
- $150,000 — ) a transition benefit in the amount of $150,000 in connection with Ms. Liang obtaining
- $2,000,000 — ion, Ms. Liang is entitled to receive a $2,000,000 sign-on bonus (the "Sign-on Bonus"), pa
- $1,500,000 — 's Class A common stock with a value of $1,500,000, and (ii) a stock option, with a Black-
Filing Documents
- oscr-20250129.htm (8-K) — 41KB
- oscarhealthfourthquarteran.htm (EX-99.1) — 331KB
- imagea.jpg (GRAPHIC) — 20KB
- 0001568651-25-000005.txt ( ) — 549KB
- oscr-20250129.xsd (EX-101.SCH) — 2KB
- oscr-20250129_lab.xml (EX-101.LAB) — 21KB
- oscr-20250129_pre.xml (EX-101.PRE) — 12KB
- oscr-20250129_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On February 4, 2025, Oscar Health, Inc. (the "Company") announced the Company's financial results for the fourth quarter and year ended December 31, 2024. A copy of the press release issued in connection with the announcement is attached and furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. The information in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information and exhibits be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of President of Oscar Insurance On January 30, 2025, the Board of Directors (the "Board") of the Company appointed Janet Liang as EVP and President of Oscar Insurance, effective February 24, 2025. Ms. Liang will be responsible for overseeing the Company's insurance and operations functions. This newly created role will centralize leadership for the Company's health plan under a veteran health care executive. Alessandrea Quane, the Company's EVP, Chief Insurance Officer, will cease serving in this role effective as of February 24, 2025 and her employment with the Company and Oscar Management Corporation ("OMC") will terminate effective as of March 3, 2025. In addition, on January 29, 2025, Steven Wolin resigned as EVP and Chief Operating Officer of the Company, effective as of February 5, 2025. In addition to her appointment as EVP and President of Oscar Insurance, Ms. Liang has been designated by the Board as the Company's principal operatin
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 99.1 Press Release, dated February 4 , 202 5 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Oscar Health, Inc. By: /s/ R. Scott Blackley Name: R. Scott Blackley Title: Chief Financial Officer Date: February 4, 2025