Former Privia Health Group CEO Shawn Morris sold 135,498 shares for approximately $3.6 million through an exercise-and-immediate-sale of stock options, according to an SEC filing. The transactions, executed at a weighted average price of $26.32 on June 30 and July 1, were part of a pre-arranged Rule 10b5-1 trading plan and occurred just days before his retirement from the Board of Directors on July 6. The sale reduced Morris' direct common share position by nearly 64%, though he retains 76,651 directly-held shares, millions of fully-vested stock options, and over 24,000 shares held indirectly. Privia Health shares closed at $26.88 on July 1, up 19.3% over the trailing year, and later hit a 52-week high of $27.86 on July 10 following strong first-quarter sales growth of nearly 26% year over year to $603.8 million and an expansion into New Jersey.
Privia Health Group IncInsider Shawn Morris sold $3.6M in shares, reducing his direct stake by 64%, signaling lack of confidence.