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

Karen Soares, General Counsel & Secretary of Clover Health Investments, disposed of 4,499 shares of Class A Common Stock on June 15, 2024, to cover tax obligations related to vesting restricted stock units.

Summary

• On June 18, 2024, a Form 4 filing with the SEC revealed that Karen Soares, General Counsel & Secretary of Clover Health Investments, disposed of 4,499 shares of Class A Common Stock on June 15, 2024.
• The disposal was to cover tax obligations arising from the vesting of 6.25% of time-based restricted stock units (RSUs) granted on September 15, 2022.
• The price per share for the transaction was $1.09.
• Following the transaction, Soares directly owns 975,261 shares of Class A Common Stock.
• The remaining RSUs vest quarterly in equal installments of 6.25%, with the final vesting date on September 15, 2026, contingent upon continued service.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't indicate any particularly positive or negative sentiment.

Future Outlook

The remaining RSUs will continue to vest quarterly until September 15, 2026, subject to continued service.

Industry Context

Form 4 filings are routine disclosures of transactions by company insiders and are a normal part of corporate governance and regulatory compliance.

Key Dates