Form 4: Clover Health CEO Jamie Reynoso Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Jamie Reynoso, CEO of Medicare Advantage at Clover Health, disposed of 7,777 shares of Class A Common Stock to cover tax obligations upon the vesting of restricted stock units (RSUs).
Summary
- On March 14, 2024, Jamie Reynoso, CEO of Medicare Advantage at Clover Health, disposed of 7,777 shares of Class A Common Stock.
- The shares were disposed of to cover tax obligations related to the vesting of 6.25% of the original RSUs granted on March 14, 2022.
- The price per share was $0.73.
- Following the transaction, Reynoso beneficially owns 2,477,994 shares of Class A Common Stock directly.
- The remaining RSUs vest quarterly in equal installments of 6.25%, with the final vesting date on March 14, 2026, contingent upon continued service.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices. 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%, with the final vesting date occurring on March 14, 2026, subject to the continued service of the Reporting Person on each such vesting date.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It doesn't necessarily reflect a change in the company's outlook or performance.
Key Dates
| Date | Description |
|---|---|
| 03/14/2022 | Original grant date of RSUs to Jamie Reynoso. |
| 03/14/2024 | Date of transaction: Reynoso disposed of shares to cover tax obligations upon RSU vesting. |
| 03/14/2026 | Final vesting date of the remaining RSUs, contingent upon continued service. |
| 03/18/2024 | Date of signature on the Form 4 filing. |
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