Oscar Health, Inc. reported a director compensation-related insider transaction involving William Gassen, who received deferred stock units tied to the company’s Class A common stock on July 9, 2026. The Form 4 was filed on July 13, 2026, and reflects an ownership change in derivative securities rather than an open-market stock purchase or sale. According to the filing notes, Gassen elected under Oscar Health’s Amended and Restated Deferred Compensation Plan for Directors to receive deferred stock units instead of cash retainer payments for his service on the company’s board of directors. Each deferred stock unit represents the right to receive one share of Oscar Health Class A common stock. The units issued in lieu of the cash retainer were fully vested on the grant date. The number of deferred stock units was calculated using the closing price of Oscar Health’s Class A common stock on July 9, 2026. However, the excerpt provided does not show the actual number of units granted, the specific closing price used, the transaction code, or Gassen’s total derivative-security ownership following the transaction. The deferred stock units may ultimately be settled either in cash or in shares of Class A common stock, at Oscar Health’s discretion. Settlement is required within 45 days after the first of several triggering events: Gassen’s termination of service, a change in control, death, or disability. The filing was signed on Gassen’s behalf by Melissa Curtin as attorney-in-fact on July 13, 2026. The transaction matters because it shows a director choosing equity-linked deferred compensation in place of cash, aligning a portion of board compensation with Oscar Health’s stock performance while delaying actual settlement until a future event.