Form 4: Clover Health Executive Brady Priest Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Brady Priest, CEO of Home Care at Clover Health, disposed of shares to cover tax obligations upon the vesting of restricted stock units.
Summary
- On October 31, 2024, Brady Priest, CEO of Home Care at Clover Health Investments, disposed of 100,320 shares of Class A Common Stock to cover tax obligations.
- The shares were withheld at a price of $4.12 per share.
- This transaction occurred due to the vesting of 50% of the time-based restricted stock units (RSUs) granted to Priest on October 31, 2023.
- Following the transaction, Priest still beneficially owns 2,550,698 shares of Class A Common Stock.
- The remaining RSUs will vest in four equal quarterly installments, with the final vesting date on October 31, 2025, contingent upon continued service.
Sentiment
Score: 5
Explanation: The document describes a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.
Future Outlook
The remaining RSUs vest in four 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
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 10/31/2023 | Date of original grant of time-based restricted stock units (RSUs) to Brady Priest. |
| 11/02/2023 | Date Form 4 was filed reporting the original grant of RSUs. |
| 10/31/2024 | Date of transaction: Disposal of shares to cover tax obligations upon vesting of RSUs. |
| 10/31/2025 | Final vesting date for the remaining RSUs, subject to continued service. |
| 11/04/2024 | Date of signature on the Form 4 filing. |
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