Form 4: Clover Health CEO Andrew Toy Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Andrew Toy, CEO of Clover Health, disposed of shares to cover tax obligations upon the vesting of restricted stock units.
Summary
- On May 8, 2025, Andrew Toy, the CEO of Clover Health Investments, Corp., disposed of 85,535 shares of Class A Common Stock to cover tax obligations.
- The shares were withheld automatically at a price of $3.75 per share.
- This disposal was related to the vesting of 6.25% of the original time-based restricted stock units (RSUs) granted to Mr. Toy on August 8, 2022.
- Following the transaction, Mr. Toy beneficially owns 10,868,997 shares of Class A Common Stock.
- The remaining RSUs vest quarterly in equal installments of 6.25%, with the final vesting date on August 8, 2026, contingent upon continued service.
Sentiment
Score: 5
Explanation: The document describes a routine transaction related to executive compensation and tax obligations, which is neutral in sentiment.
Future Outlook
The remaining RSUs will continue to vest quarterly in equal installments of 6.25% until August 8, 2026, subject to Mr. Toy's continued service.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 2022/08/08 | Date of original grant of time-based restricted stock units (RSUs) to Andrew Toy. |
| 2022/08/10 | Date Form 4 was filed reporting the grant of RSUs. |
| 2025/05/08 | Date of the transaction where shares were disposed of to cover tax obligations upon RSU vesting. |
| 2025/05/12 | Date of signature on the Form 4 filing. |
| 2026/08/08 | Final vesting date for the remaining RSUs. |
Keywords
Clover Health, Andrew Toy, SEC Form 4, Stock Disposal, Tax Obligations, RSUs, Beneficial Ownership
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