Form 4: Centene Corp Executive Christopher Koster Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Christopher Koster, Secretary & General Counsel of Centene Corp, reports acquisition and disposal of common stock and derivative securities.
Summary
- On March 15, 2024, Christopher Koster, Secretary & General Counsel of Centene Corp, reported changes in beneficial ownership.
- Koster disposed of 2,135 shares of common stock at $76.05 per share to cover taxes upon vesting of restricted stock units.
- He also acquired 37,147 shares of common stock at $0, including restricted stock units and performance stock units.
- Following these transactions, Koster directly owns 198,687.463 shares of common stock and indirectly owns 100 shares through his spouse.
- Koster also holds options to buy 15,690 shares of common stock at $81.85 and 3,015.544 shares of phantom stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document primarily reports routine stock transactions by an executive. There are no explicit positive or negative implications for the company's performance.
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.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, restricted stock units, and performance-based incentives.
- The vesting schedules and performance conditions attached to the stock units are typical for aligning executive interests with long-term company performance.
- Comparing Koster's holdings and transactions to those of executives at similar healthcare companies (e.g., UnitedHealth Group, CVS Health) would provide a broader context.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are part of the executive's compensation and do not significantly alter the company's financial position.
Key Dates
| Date | Description |
|---|---|
| 03/06/2020 | Date of phantom stock grant. |
| 12/15/2021 | Date of performance stock option grant. |
| 03/15/2024 | Date of the reported transactions (acquisition and disposal of shares). |
| 03/19/2024 | Date of signature on the Form 4 filing. |
| 12/15/2031 | Expiration date of the common stock option. |
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