Form 4: Centene CEO Sarah London Reports Changes in Beneficial Ownership
SEC Form 4
Centene CEO Sarah London reports acquisition and disposal of company stock and stock units, including shares withheld for taxes and vesting of restricted stock units.
Summary
- On March 15, 2024, Sarah London, CEO of Centene Corp, reported changes in her beneficial ownership of Centene's common stock.
- 11,182 shares were disposed of at a price of $76.05 due to shares withheld for taxes upon vesting of previously-reported grant of restricted stock units.
- She also acquired 186,062 shares at $0, which includes 65,122 restricted stock units that vest in three annual installments and 120,940 performance stock units reported at target level performance.
- Following these transactions, London directly owns 713,664 shares of Centene's common stock.
- This ownership includes 417,090 shares of previously-granted restricted stock units and performance stock units subject to vesting requirements.
- London also holds options to buy 13,449 shares of common stock at an exercise price of $81.85, which were granted on December 15, 2021, and may become exercisable on or after the third anniversary of the grant date if the closing price of CNC's common stock equals or exceeds $100 per share for 20 consecutive trading days following the grant date.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing changes in beneficial ownership, which is neither inherently positive nor negative. It's a neutral disclosure.
Future Outlook
The actual number of performance stock units vesting on March 15, 2027, is predicated on meeting three-year performance conditions.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency to investors regarding the executive's stake in the company.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 12/15/2021 | Performance Stock Option granted, exercisable under certain conditions. |
| 03/15/2024 | Date of transaction: acquisition and disposal of shares. |
| 03/19/2024 | Date of signature on the form. |
| 03/15/2027 | Date of vesting for performance stock units, predicated on meeting three-year performance conditions. |
| 12/15/2031 | Expiration date of Common Stock Option (right to buy). |
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