Jason Eric Evans, Chief Executive Officer of Surgery Partners (NASDAQ: SGRY), sold 11,462 shares of common stock on March 6, 2026, at $13.79 per share, resulting in gross proceeds of $158,060, according to a Form 4 filing with the Securities and Exchange Commission.
The filing specifies that the disposition was executed to satisfy tax obligations connected to the vesting of restricted stock awards. Those restricted shares had been granted the prior day, March 5, 2026.
Per the same Form 4, Evans received a total of 278,106 shares through restricted stock awards on March 5, 2026, recorded at a grant price of $14.11 and a total value of $3,924,075. The awards are split into differing vesting schedules: 141,743 shares vest in three equal annual installments beginning on the first anniversary of the grant date, while the remaining 136,363 shares vest in full on the first anniversary of the grant date.
After the sale on March 6, Evans is reported to directly hold 940,786 shares of Surgery Partners common stock.
Market context included in the filing notes that Surgery Partners shares have been trading at $13.31, close to a 52-week low of $12.25, and that the stock had declined roughly 16% over the preceding week.
Separately, an InvestingPro analysis cited in related materials describes the stock as appearing undervalued at current levels and references the availability of an extended Pro Research Report on SGRY.
Corporate activity for Surgery Partners has been active on two fronts. On the strategic side, the company announced the acquisition of Preferred Vascular Group, a provider focused on dialysis access procedures. That transaction expands Surgery Partners' footprint by adding eight ambulatory surgical centers located in Georgia and Ohio.
On the financial front, the company has recently faced headwinds in its reported results and forward guidance. Several brokerages - RBC Capital, TD Cowen, Jefferies, and Benchmark - have reduced their price targets for the company, each citing specific concerns.
- RBC Capital cited softer-than-anticipated guidance for 2026 and noted that certain expected mergers and acquisitions were excluded from its estimates.
- TD Cowen highlighted a 6% shortfall in adjusted EBITDA-NCI results, pointing to a negative insurance mix shift and operational issues at three surgical hospitals.
- Jefferies characterized the situation as an earnings reset accompanied by a leveraged balance sheet.
- Benchmark referred to weak fourth-quarter results and fiscal 2026 guidance that falls below consensus expectations.
Despite the revisions to price targets and the operational and financial issues cited, all four firms maintained positive ratings on the stock.
The transactions disclosed in the Form 4 reflect a routine executive-level liquidity event tied directly to equity compensation and related tax obligations, while company-level developments indicate a mix of strategic expansion and near-term financial challenges as reported by analysts. The filing provides a clear record of the share movement and the vesting schedule associated with the recent awards.