Form 4: Clover Health Investments General Counsel Karen Soares Reports Tax-Related Stock Disposal

Karen Soares, General Counsel & Secretary of Clover Health Investments, reports the disposal of shares to cover tax obligations upon vesting of restricted stock units.

Summary

• Karen Soares, the General Counsel & Secretary of Clover Health Investments, filed a Form 4 on November 4, 2024, reporting a transaction that occurred on October 31, 2024.
• The transaction involved the disposal of 152,040 shares of Class A Common Stock at a price of $4.12 per share.
• These shares were withheld to cover tax obligations related to the vesting of 50% of the time-based restricted stock units (RSUs) granted to Soares on October 31, 2023.
• Following the transaction, Soares beneficially owns 1,404,204 shares of Class A Common Stock.
• The remaining RSUs will vest in four equal quarterly installments, concluding on October 31, 2025, contingent upon continued service.

Sentiment

Score: 5

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

Future Outlook

The remaining RSUs will 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

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates a standard practice of covering tax obligations related to equity compensation.

Key Dates