Form 4: Centene COO Susan Raye Smith Reports Stock Transactions

Susan Raye Smith, Chief Operating Officer of Centene Corp, reports the acquisition and disposal of company stock, including shares withheld for taxes and grants of restricted stock units and performance stock units.

Summary

• On March 15, 2025, Susan Raye Smith, the Chief Operating Officer of Centene Corp, engaged in transactions involving the company's common stock.
• Smith disposed of 1,064 shares to cover taxes at a price of $58.19 per share.
• She also acquired 60,148 shares through an award, with the price reported as $0.
• Following these transactions, Smith directly owns 119,923 shares, which includes 47,169 shares of previously-granted restricted stock units and performance stock units (reported at target level performance) subject to vesting requirements.
• The award includes 24,059 restricted stock units that vest in three annual installments on the anniversary of the grant date and 36,089 performance stock units reported at target level performance.
• The actual number of performance stock units vesting on March 15, 2028, is predicated on meeting three-year performance conditions.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports transactions. The acquisition of shares could be seen as slightly positive, but it's a routine filing.

Positives

• The acquisition of 60,148 shares through an award indicates confidence in the company's future performance.

Risks

• The vesting of performance stock units is contingent on meeting three-year performance conditions, which introduces uncertainty.

Future Outlook

The vesting of performance stock units on March 15, 2028, is dependent on the company meeting three-year performance conditions.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider trading activities.
• Companies like UnitedHealth Group (UNH) and Anthem (ANTM) also have similar filings when their executives trade company stock.
• The vesting schedules and performance conditions for stock units are typical components of executive compensation packages in the healthcare industry.

Stakeholder Impact

• Shareholders are informed about insider trading activities, providing transparency.
• Employees may be indirectly affected by the company's performance, which influences the vesting of performance stock units.

Key Dates