Form 4: Clover Health Executive Conrad Wai Reports Tax-Related Stock Disposal

Conrad Wai, CEO of Counterpart Health and an officer of Clover Health Investments, sold shares to cover tax obligations upon the vesting of restricted stock units.

Summary

• On March 14, 2025, Conrad Wai, an officer of Clover Health Investments, disposed of 80,524 shares of Class A Common Stock to cover tax obligations.
• The shares were withheld automatically upon the vesting of 6.25% of the original time-based restricted stock units (RSUs) granted on March 14, 2022.
• The price per share was $3.66.
• Following the transaction, Wai beneficially owns 3,263,539 shares of Class A Common Stock.
• The remaining RSUs vest quarterly in equal installments of 6.25%, with the final vesting date on March 14, 2026, contingent upon continued service.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of a routine transaction related to executive compensation. It doesn't inherently indicate positive or negative sentiment.

Future Outlook

The remaining RSUs will continue to vest quarterly until March 14, 2026, subject to the reporting person's continued service.

Industry Context

This filing is a routine disclosure related to executive compensation and stock-based awards, common in publicly traded companies. It provides transparency into the holdings and transactions of company insiders.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it is a standard procedure for covering tax obligations related to stock-based compensation.

Key Dates