Form 4: Clover Health CEO Jamie L. Reynoso Reports Tax-Related Stock Disposal
SEC Form 4
Jamie L. Reynoso, CEO of Medicare Advantage at Clover Health, reports the disposal of 5,378 shares of Class A Common Stock to cover tax obligations upon RSU vesting.
Summary
- On March 15, 2024, Jamie L. Reynoso, CEO of Medicare Advantage at Clover Health, disposed of 5,378 shares of Class A Common Stock.
- The disposal was to cover tax obligations related to the vesting of 6.25% of the original number of Restricted Stock Units (RSUs) granted on September 16, 2022.
- The price per share for the transaction was $0.8.
- Following the transaction, Reynoso directly owns 2,472,616 shares of Class A Common Stock.
- The remaining RSUs vest quarterly in equal installments of 6.25%, with the final vesting date occurring on September 15, 2026, subject to continued service.
Sentiment
Score: 5
Explanation: This is a neutral event related to tax obligations and RSU vesting; it doesn't indicate positive or negative sentiment towards the company's performance.
Future Outlook
The remaining RSUs vest quarterly in equal installments of 6.25% until September 15, 2026, subject to continued service.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It doesn't necessarily reflect a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 09/16/2022 | Original grant date of RSUs to Jamie L. Reynoso |
| 09/20/2022 | Form 4 filed to report the original grant of RSUs |
| 03/15/2024 | Date of stock disposal to cover tax obligations upon RSU vesting |
| 03/19/2024 | Date of signature on the Form 4 filing |
| 09/15/2026 | Final vesting date of the remaining RSUs |
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