Form 4: Clover Health CEO Jamie Reynoso Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
CEO of Clover Health, Jamie Reynoso, disposed of shares to cover tax obligations related to vesting restricted stock units.
Summary
- Jamie L. Reynoso, CEO of Medicare Advantage at Clover Health Investments, disposed of shares of Class A Common Stock to cover tax obligations.
- On March 14, 2025, 9,188 shares were disposed of at a price of $3.66 per share to cover tax obligations related to vesting restricted stock units (RSUs).
- On March 15, 2025, 6,354 shares were disposed of at a price of $3.66 per share for the same reason.
- Following these transactions, Reynoso beneficially owns 3,270,134 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when stock options or restricted stock units vest.
Stakeholder Impact
- The disposal of shares by the CEO could have a minor impact on shareholders due to the slight dilution of shares, but it is unlikely to be significant given the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 03/14/2022 | Date of original grant of time-based restricted stock units (RSUs) to the Reporting Person. |
| 09/16/2022 | Date of original grant of time-based restricted stock units (RSUs) to the Reporting Person. |
| 03/14/2025 | Date of transaction where 9,188 shares were disposed of to cover tax obligations upon vesting of RSUs. |
| 03/15/2025 | Date of transaction where 6,354 shares were disposed of to cover tax obligations upon vesting of RSUs. |
| 03/18/2025 | Date of signature of the Form 4 filing. |
| 03/14/2026 | Final vesting date of the remaining RSUs granted on March 14, 2022. |
| 09/15/2026 | Final vesting date of the remaining RSUs granted on September 16, 2022. |
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