Form 4: Centene COO Susan Smith Reports Routine Tax-Related Stock Disposition

Centene Corporation's Chief Operating Officer, Susan Raye Smith, reported the disposition of 7,457 shares of common stock at $55.22 per share, primarily for tax withholding purposes related to vested restricted stock units.

Summary

• Susan Raye Smith, the Chief Operating Officer of Centene Corp. (CNC), reported a transaction on June 15, 2025.
• The transaction involved the disposition of 7,457 shares of Centene Common Stock at a price of $55.22 per share.
• This disposition was coded as 'F', indicating shares withheld for taxes upon the vesting of previously-reported grants of restricted stock units.
• Following this transaction, Ms. Smith beneficially owns 112,466 shares of Centene Common Stock.
• Her beneficial ownership includes 90,117 shares of previously-granted restricted stock units and performance stock units, which are reported at target level performance and remain subject to vesting requirements.

Sentiment

Score: 7

Explanation: The transaction is a routine, non-discretionary tax withholding event related to the vesting of equity compensation, which is a positive sign of executive compensation structure and continued alignment of interests. The COO retains substantial beneficial ownership.

Positives

• The transaction is a routine tax withholding event, indicating the vesting of previously granted equity awards, which is a standard component of executive compensation.
• The Chief Operating Officer retains a significant beneficial ownership of 112,466 shares, including a substantial portion of unvested equity (90,117 shares), aligning her interests with shareholders.

Negatives

• The disposition of shares, while for tax purposes, results in a reduction of the direct shareholding of the Chief Operating Officer.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Indicates continued alignment of the COO's interests with shareholders through significant equity ownership, despite a minor reduction for tax purposes.

Key Dates

Recommendation

Keywords

Centene, CNC, Form 4, insider transaction, stock disposition, equity compensation, COO, Susan Smith, restricted stock units, RSU, performance stock units, PSU, tax withholding