What Does the Sale of Progyny Shares by the CFO Mean for Investors?

Progyny CFO Mark Livingston sold 8,275 shares (9.47% of his direct holdings) for $211,000 on May 20, 2026, as part of a pre-arranged Rule 10b5-1 trading plan adopted in August 2025. The sale is not considered a red flag as it was non-discretionary. Despite losing a major customer, Progyny's shares rose in Q2 after the company provided strong 2026 guidance projecting 6-9% revenue growth, or 10-13% excluding the lost client's prior contributions.