Form 4: Centene CFO Sells Shares to Cover Taxes After Stock Vesting
SEC Form 4 Filing
Centene's Chief Financial Officer, Andrew Lynn Asher, sold 1,924 shares of common stock to cover taxes related to the vesting of restricted stock units.
Summary
- Centene's Chief Financial Officer, Andrew Lynn Asher, sold 1,924 shares of common stock on December 15, 2024.
- The sale was executed at a price of $59.42 per share.
- This transaction was to cover taxes associated with the vesting of previously-reported restricted stock units.
- Following the transaction, Asher directly owns 484,923.48 shares of Centene stock, which includes 247,326 shares of restricted stock units and performance stock units.
- Asher also holds a performance stock option granted on December 15, 2021, which may become exercisable if Centene's stock price reaches $100 for 20 consecutive trading days.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment about the company's performance.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Similar transactions are common among executives at publicly traded companies, particularly when dealing with vesting of stock options or restricted stock units.
- The sale of shares to cover tax obligations is a standard practice and does not necessarily indicate a negative outlook on the company's future performance.
- Other companies such as UnitedHealth Group (UNH) and CVS Health (CVS) also see similar Form 4 filings from their executives.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
- The sale does not indicate any change in the company's financial health or future prospects.
Key Dates
| Date | Description |
|---|---|
| 12/15/2021 | Date of grant for performance stock option which may become exercisable if the stock price hits $100 for 20 consecutive trading days. |
| 12/15/2024 | Date of the stock sale by the CFO and vesting of restricted stock units. |
| 12/17/2024 | Date the Form 4 was signed. |
Keywords
Centene, CFO, Andrew Lynn Asher, stock sale, restricted stock units, performance stock units, insider trading, Form 4, tax withholding
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