Form 4: Clover Health CEO Sells Shares for Tax Obligations
Insider Transaction Report
Clover Health's CEO of Medicare Advantage, Jamie L. Reynoso, disposed of 8,109 shares of Class A Common Stock to cover tax obligations related to RSU vesting.
Summary
- Jamie L. Reynoso, CEO of Medicare Advantage at Clover Health Investments, Corp., reported a disposition of 8,109 shares of Class A Common Stock.
- This transaction occurred on January 3, 2026, and was for the purpose of covering tax obligations.
- The shares were automatically withheld due to the vesting of 6.25% of restricted stock units (RSUs) originally granted on January 3, 2023.
- The value of the disposed shares was based on a price of $2.41 per share.
- Following this transaction, Jamie L. Reynoso beneficially owns 2,759,131 shares of Class A Common Stock.
- The remaining RSUs are scheduled to vest in equal quarterly installments, with the final vesting occurring on January 3, 2027, contingent on continued service.
Sentiment
Score: 5
Explanation: The filing reports a routine insider transaction for tax withholding purposes related to RSU vesting, which is a neutral event and does not indicate positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
The remaining restricted stock units (RSUs) granted to Jamie L. Reynoso are scheduled to vest in equal quarterly installments, with the final vesting occurring on January 3, 2027, subject to continued service.
Industry Context
This filing details a routine insider transaction related to compensation and tax obligations, which is a common occurrence across all industries for executives receiving equity-based awards. It does not provide specific insights into broader industry trends or competitive positioning.
Stakeholder Impact
- Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not a market sale for personal liquidity.
- Employees: No direct impact mentioned beyond the reporting person's compensation structure.
Next Steps
- Remaining restricted stock units (RSUs) will vest in equal quarterly installments until January 3, 2027.
Key Dates
| Date | Description |
|---|---|
| 01/03/2023 | Date when restricted stock units (RSUs) were originally granted to Jamie L. Reynoso. |
| 01/03/2026 | Date of the reported transaction, representing the vesting of 6.25% of RSUs and the disposition of shares for tax obligations. |
| 01/05/2026 | Date the Form 4 filing was signed and submitted. |
| 01/03/2027 | Date of the final vesting installment for the remaining restricted stock units. |
Keywords
Clover Health, CLOV, Jamie L. Reynoso, Form 4, Insider Transaction, Stock Disposition, RSU Vesting, Tax Withholding
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