Form 4: Clover Health Executive Brady Priest Disposes of Shares to Cover Tax Obligations

Brady Priest, CEO of Home Care at Clover Health, disposed of 38,560 shares of Class A Common Stock on January 18, 2025, to cover tax obligations related to vesting restricted stock units.

Summary

• On January 18, 2025, Brady Priest, the CEO of Home Care at Clover Health Investments, Corp., disposed of 38,560 shares of Class A Common Stock.
• The shares were disposed of to cover tax obligations arising from the vesting of restricted stock units (RSUs).
• The transaction was automatically executed upon the vesting of 6.25% of the original RSUs granted on July 18, 2022.
• The price per share for the transaction was $4.08.
• Following the transaction, Priest beneficially owns 2,512,138 shares of Class A Common Stock directly.
• The remaining RSUs will vest quarterly in equal installments of 6.25% until July 18, 2026, contingent upon Priest's continued service.

Sentiment

Score: 5

Explanation: This is a neutral event. It's a standard transaction for covering tax obligations related to vested stock.

Future Outlook

The remaining RSUs will continue to vest quarterly until July 18, 2026, subject to Brady Priest's continued service with the company.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, which are common occurrences in publicly traded companies. Executives often sell shares to cover tax obligations related to vesting equity awards.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, as it is a routine disposal of shares to cover tax obligations.

Key Dates