Form 4: Centene CFO Asher Andrew Lynn Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Centene's CFO, Asher Andrew Lynn, reports the forfeiture of performance stock units and shares withheld for taxes upon vesting.
Summary
- On February 4, 2025, Asher Andrew Lynn, CFO of Centene Corp, reported changes in beneficial ownership of the company's stock.
- He forfeited 28,723 performance stock units due to the company's performance over the applicable period.
- Additionally, 2,940 shares were withheld for taxes upon the vesting of previously reported performance stock units at a price of $64.82.
- Following these transactions, Lynn directly owns 453,260.48 shares of Centene common stock.
- His ownership includes 195,480 shares of previously-granted restricted stock units and performance stock units (reported at target level performance) subject to vesting requirements.
- In addition, ownership includes 15,767 performance stock units (reported at actual performance) subject to vesting requirements.
- Lynn also holds options to purchase 13,449 shares of common stock at an exercise price of $81.85, which may become exercisable on or after December 15, 2024, if Centene's stock price reaches $100 for 20 consecutive trading days.
Sentiment
Score: 5
Explanation: The sentiment is neutral. The filing primarily reports routine transactions related to stock unit vesting and tax withholdings. The forfeiture of stock units suggests that the company did not meet certain performance targets, but this is a backward-looking assessment.
Negatives
- Asher Andrew Lynn forfeited 28,723 performance stock units, indicating that the company did not meet certain financial performance objectives.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors monitor these filings to gain insights into management's perspective on the company's stock and future prospects.
Stakeholder Impact
- The forfeiture of performance stock units may negatively impact employee morale if employees feel the company is not meeting its performance goals.
- Shareholders may view the forfeiture as a sign that the company's performance is not meeting expectations.
Key Dates
| Date | Description |
|---|---|
| 12/15/2021 | Date of performance stock option grant. |
| 04/26/2022 | Date of performance stock unit grant. |
| 02/04/2025 | Date of transaction: forfeiture of performance stock units and shares withheld for taxes. |
| 02/06/2025 | Date of signature on the Form 4 filing. |
| 12/15/2031 | Expiration date of the Common Stock Option (right to buy). |
Keywords
Centene, CFO, Asher Andrew Lynn, Form 4, Beneficial Ownership, Stock Units, Forfeiture, Vesting, Options, CNC
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