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LFSTLifeStance Health Group, Inc. · Insider ownership research

LifeStance Health Group, Inc. insiders sold $104M in the past 12 months. How much of their stake is that?

Insiders sold $104M in the past 12 months.12% was sold under disclosed trading plans, 88% with no plan disclosed. The largest seller, Darren Black (Director), sold $77.6M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 13, 2026 from SEC filings · covers Oct 14, 2025 to Oct 13, 2026
$91.4M
sold with no plan disclosed, past 12 months
12%
of sales were under disclosed trading plans, past 12 months
8 of 18
officers and directors sold shares, past 12 months
Is this normal? More than usual: about 13x the 4-year average. 8 insiders sold; the average is 7 a year. Year by year
Latest filing: Filed Sep 4 for a sale on Sep 2. Vukasin Paunovich sold 42K shares ($541K) with no plan disclosed. Filing
SEC ownership filings: 61 filed in the 12 months to Oct 13, 2026; 271 on record since Jun 10, 2021 · See the evidence

What stands out

Four directors sold $89.9M with no disclosed plan: Darren Black ($77.6M), Kenneth Burdick ($5.8M) and Robert Bessler ($4.6M), plus 1 more. The filings don't state a reason.Darren Black: largest such sale, May 12, 2026 · Kenneth Burdick: largest such sale, Aug 11, 2026 · Robert Bessler: largest such sale, May 12, 2026
Outside holder TPG GP A, LLC, a 10% owner and not part of management, sold $743M of stock.Largest sale, May 12, 2026

A share of stake is shown for 0 of the 8 officers and directors who sold. 18 are left out

i
Left out: Darren Black, Kenneth Burdick, Ryan Pardo, Robert Bessler, Pablo Pantaleoni, Eric Shuey, David Bourdon, Ann Varanakis, Ryan McGroarty, Lisa Miller, Ujjwal Ramtekkar, Teresa DeLuca, Eric Palmer, Vukasin Paunovich, Sarah Personette, Stephanie Eken, Thurman Justice and Lori Goltermann (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Darren Black
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$77.6MNo plan disclosed
Robert Bessler
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$16.4M72% planned 28% no plan disclosed
Kenneth Burdick
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$5.8MNo plan disclosed
Eric Shuey
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$2.0MNo plan disclosed
Vukasin Paunovich
Chief Technology Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$1.0M47% planned 53% no plan disclosed
All 8 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNov 2025: $368K no plan disclosedNovDec 2025: $1.5M under a disclosed planDec 2025: $345K no plan disclosedDecJanFebMar 2026: $30.2M no plan disclosedMarApr 2026: $528K under a disclosed planAprMay 2026: $641K under a disclosed planMay 2026: $53.9M no plan disclosed$54.5MMayJun 2026: $9.1M under a disclosed planJunJulAug 2026: $1.0M under a disclosed planAug 2026: $95K to cover taxesAug 2026: $6.0M no plan disclosedAugSep 2026: $541K no plan disclosedSepOct

Recent activity

Past 30 days, Sep 14, 2026 to Oct 13, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Sep 2, 2026Vukasin Paunovich sold 42K shares ($541K) with no plan disclosed.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Vukasin Paunovich
Chief Technology Officer
42,067$12.87n/an/aSep 2, 2026Sep 4, 2026

Outside holders, reported separately

TPG GP A, LLC sold $743M in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the LifeStance Health Group, Inc. CEO selling stock?

No. David Bourdon reported no open-market sales in the past 12 months.

Why are LifeStance Health Group, Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 12% of sales by value ran under 10b5-1 trading plans disclosed in the filings, 0.1% were to cover taxes and 88% had no disclosed plan. A trading plan schedules sales in advance.

Are any LifeStance Health Group, Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold8 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Darren Black
Director
$77.6M
10.21M shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Robert Bessler
Director
$16.4M
1.84M shares
Not confirmed
share of stake is being verified. Why
72% under a disclosed plan 28% no plan disclosed
Kenneth Burdick
Director
$5.8M
500K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Eric Shuey
Director
$2.0M
243K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Vukasin Paunovich
Chief Technology Officer
$1.0M
86K shares
Not confirmed
share of stake is being verified. Why
47% under a disclosed plan 53% no plan disclosed
Lisa Miller
Chief Operating Officer
$888K
105K shares
Not confirmed
share of stake is being verified. Why
59% under a disclosed plan 41% no plan disclosed
Teresa DeLuca
Director
$345K
28K shares
Not confirmed
share of stake is being verified. Why
28% to cover taxes 72% no plan disclosed
Ann Varanakis
Chief People Officer
$345K
50K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed

Outside holder, reported separately: TPG GP A, LLC (a 10% owner, not part of management). Sold $743M (81.02M shares) from Mar 2, 2026 to Sep 11, 2026. Latest filing

Outside holder, reported separately: SUMMIT PARTNERS L P (a 10% owner, not part of management). No open-market sales reported in the period. Latest filing

Outside holder, reported separately: Silversmith Partners I GP, LLC (a 10% owner, not part of management). No open-market sales reported in the period. Latest filing

The full ownership picture0 of 18 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 13, 2025SoldHeld Oct 13, 2026Still held
Darren Black
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Darren Black are complete.
Director
n/a−10.21Mn/an/a
Vesting, gifts, unvested awards and holding lines for Darren Black

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Darren Black are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Kenneth Burdick
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Kenneth Burdick are complete.
Director
n/a−500Kn/an/a
Vesting, gifts, unvested awards and holding lines for Kenneth Burdick

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Kenneth Burdick are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−752Kwithheld by the company for taxes
Ryan Pardo
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ryan Pardo are complete.
Chief Legal Officer and Secretary, Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Ryan Pardo

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ryan Pardo are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−98Kwithheld by the company for taxes
Robert Bessler
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Robert Bessler are complete.
Director
n/a−1.84Mn/an/a
Vesting, gifts, unvested awards and holding lines for Robert Bessler

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Robert Bessler are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Pablo Pantaleoni
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Pablo Pantaleoni are complete.
Chief Digital Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Pablo Pantaleoni

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Pablo Pantaleoni are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Eric Shuey
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Eric Shuey are complete.
Director
n/a−243Kn/an/a
Vesting, gifts, unvested awards and holding lines for Eric Shuey

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Eric Shuey are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
David Bourdon
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for David Bourdon are complete.
Chief Executive Officer, Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for David Bourdon

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for David Bourdon are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−214Kwithheld by the company for taxes
Ann Varanakis
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Ann Varanakis are complete.
Chief People Officer
n/a−50Kn/an/a
Vesting, gifts, unvested awards and holding lines for Ann Varanakis

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ann Varanakis are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−75Kwithheld by the company for taxes
Ryan McGroarty
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ryan McGroarty are complete.
Chief Financial Officer and Treasurer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Ryan McGroarty

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ryan McGroarty are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−148Kwithheld by the company for taxes
Lisa Miller
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Lisa Miller are complete.
Chief Operating Officer
n/a−105Kn/an/a
Vesting, gifts, unvested awards and holding lines for Lisa Miller

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Lisa Miller are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−60Kwithheld by the company for taxes
Ujjwal Ramtekkar
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ujjwal Ramtekkar are complete.
Chief Medical Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Ujjwal Ramtekkar

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ujjwal Ramtekkar are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Teresa DeLuca
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Teresa DeLuca are complete.
Director
n/a−28Kn/an/a
Vesting, gifts, unvested awards and holding lines for Teresa DeLuca

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Teresa DeLuca are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Eric Palmer
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Eric Palmer are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Eric Palmer

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Eric Palmer are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Vukasin Paunovich
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Vukasin Paunovich are complete.
Chief Technology Officer
n/a−86Kn/an/a
Vesting, gifts, unvested awards and holding lines for Vukasin Paunovich

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Vukasin Paunovich are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−36Kwithheld by the company for taxes
Sarah Personette
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Sarah Personette are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Sarah Personette

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Sarah Personette are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Stephanie Eken
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Stephanie Eken are complete.
Chief Medical Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Stephanie Eken

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Stephanie Eken are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Thurman Justice
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Thurman Justice are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Thurman Justice

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Thurman Justice are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Lori Goltermann
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Lori Goltermann are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Lori Goltermann

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Lori Goltermann are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for LifeStance Health Group, Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$104M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $104M across 13,066,973 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

The lighter segment is sales with no plan disclosed in the filing ($91.5M), including tax-related sales outside a plan.

No plan disclosed · $91.4M

Sales with no 10b5-1 plan and no tax reference in the filing. $77.6M of it is Darren Black. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Darren Black, May 12, 2026

Taxes

$95K of sales (0.1%) cite tax obligations in their footnotes. Separately, 1,383,338 shares ($9.7M) were withheld by the company for taxes, which isn't a market sale. Example: Teresa DeLuca, Aug 14, 2026

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Darren Black
Director
10.21M$77.6M0%74%Mar 2, 2026 to May 12, 2026
Robert Bessler
Director
1.84M$16.4M72%16%Dec 12, 2025 to Jun 26, 2026
Kenneth Burdick
Director
500K$5.8M0%6%Aug 11, 2026 to Aug 11, 2026
Eric Shuey
Director
243K$2.0M0%2%May 12, 2026 to May 12, 2026
Vukasin Paunovich
Chief Technology Officer
86K$1.0M47%1.0%Aug 10, 2026 to Sep 2, 2026
Lisa Miller
Chief Operating Officer
105K$888K59%0.9%Nov 21, 2025 to Aug 10, 2026
Teresa DeLuca
Director
28K$345K0%0.3%Aug 13, 2026 to Aug 14, 2026
Ann Varanakis
Chief People Officer
50K$345K0%0.3%Dec 17, 2025 to Dec 17, 2025

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$368K$0$0$368K
Dec 2025$1.9M$1.5M$0$345K
Jan 2026$0$0$0$0
Feb 2026$0$0$0$0
Mar 2026$30.2M$0$0$30.2M
Apr 2026$528K$528K$0$0
May 2026$54.5M$641K$0$53.9M
Jun 2026$9.1M$9.1M$0$0
Jul 2026$0$0$0$0
Aug 2026$7.1M$1.0M$95K$6.0M
Sep 2026$541K$0$0$541K
Oct 2026$0$0$0$0
Is this normal? Selling year by year4 earlier years to compare with

More than usual: about 13x the 4-year average. 8 insiders sold; the average is 7 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 13, 2026
Latest 12 months
13.07M8$104M
Oct 13, 2025
1 year earlier
170K4$1.2M
Oct 13, 2024
2 years earlier
1.41M8$8.8M
Oct 14, 2023
3 years earlier
1.29M7$10.3M
Oct 14, 2022
4 years earlier
1.11M9$6.9M
Oct 14, 2021
5 years earlier · filings don't cover the whole year
n/an/an/a

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty18 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for LifeStance Health Group, Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology271 filings on record, 61 filed in the 12-month period, and how we read them

All 271 Forms 3, 4 and 5 on record for LifeStance Health Group, Inc. (SEC CIK 1845257), filed from Jun 10, 2021 to Sep 24, 2026; 61 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 13, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (15)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
William MillerAug 27, 2024423,517 shares, last reported balance as of Jul 21, 2024
Seema VermaAug 27, 2024101,448 shares, last reported balance as of Jul 21, 2024
Danish QureshiJun 18, 202410,567,961 shares, last reported balance as of Jun 14, 2024
Kevin MullinsJun 13, 20244,650,571 shares, last reported balance as of Jun 11, 2024
Jeffrey CrisanMay 29, 202417,916,554 shares, last reported balance as of May 24, 2024
Paula CipolloneMay 14, 2024239,915 shares, last reported balance as of May 13, 2024
Warren GoukSep 5, 20236,700,304 shares, last reported balance as of Sep 1, 2023
Anisha Patel-DunnJun 29, 20232,590,795 shares, last reported balance as of Jun 28, 2023
Michael LesterJun 14, 202223,148,931 shares, last reported balance as of Jun 13, 2022
Gwen BoothJun 14, 20227,083,637 shares, last reported balance as of Jun 13, 2022
Felicia GorcycaJun 14, 2022909,582 shares, last reported balance as of Jun 13, 2022
Jesse BruffApr 26, 20221,816,704 shares, last reported balance as of Apr 25, 2022
Katherine WoodJun 10, 2021No balance on record
Jeffrey RhodesJun 10, 2021No balance on record
Safwan ShababNo balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.