Form 4: Clover Health CEO Jamie Reynoso Sells Shares to Cover Tax Obligations
SEC Form 4
Clover Health CEO Jamie Reynoso sold 25,659 shares of Class A Common Stock on April 30, 2025, to cover tax obligations related to the vesting of restricted stock units.
Summary
- On April 30, 2025, Jamie L. Reynoso, CEO of Medicare Advantage at Clover Health Investments, Corp., disposed of 25,659 shares of Class A Common Stock.
- The transaction was executed to cover tax obligations arising from the vesting of 12.5% of the time-based restricted stock units (RSUs) granted on October 31, 2023.
- The shares were sold at a price of $3.4.
- Following the transaction, Reynoso directly owns 3,238,109 shares of Class A Common Stock.
- The remaining RSUs will vest in two equal quarterly installments, with the final vesting date on October 31, 2025, contingent upon continued service.
Sentiment
Score: 5
Explanation: The document reports a routine transaction (sale of shares to cover taxes on vested RSUs). It doesn't indicate any particular positive or negative sentiment regarding the company's performance or future prospects.
Future Outlook
The remaining RSUs will vest in two equal quarterly installments, with the final vesting date occurring on October 31, 2025, subject to the continued service of the Reporting Person on each such vesting date.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives.
Key Dates
| Date | Description |
|---|---|
| October 31, 2023 | Date of original grant of time-based restricted stock units (RSUs) to Jamie L. Reynoso. |
| November 2, 2023 | Date Form 4 was filed reporting the grant of RSUs. |
| April 30, 2025 | Date of transaction: sale of shares to cover tax obligations upon vesting of RSUs. |
| October 31, 2025 | Final vesting date of the remaining RSUs, subject to continued service. |
| May 02, 2025 | Date of signature of the form. |
Keywords
Form 4, Clover Health, Jamie Reynoso, Stock Sale, RSUs, Tax Obligations, Beneficial Ownership, CLOV
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