Form 4: Clover Health Investments General Counsel Karen Soares Reports Tax-Related Stock Disposal
SEC Form 4
Karen Soares, General Counsel & Secretary of Clover Health Investments, disposed of 27,293 shares of Class A Common Stock on April 30, 2025, to cover tax obligations related to vesting restricted stock units.
Summary
- On April 30, 2025, Karen Soares, the General Counsel & Secretary of Clover Health Investments, disposed of 27,293 shares of Class A Common Stock.
- The disposal was executed to cover tax obligations arising from the vesting of 12.5% of time-based restricted stock units (RSUs) granted on October 31, 2023.
- The shares were sold at a price of $3.4.
- Following the transaction, Soares beneficially owns 1,267,781 shares of Class A Common Stock.
- The remaining RSUs will vest in two equal quarterly installments, with the final vesting date on October 31, 2025, contingent upon continued service.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a routine transaction related to executive compensation. It doesn't indicate positive or negative sentiment about the company's performance.
Future Outlook
The remaining RSUs will vest in two 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 Form 4 filing is a routine disclosure related to stock-based compensation for a company executive. It's common for executives to sell shares to cover tax obligations when RSUs vest.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| October 31, 2023 | Date of original grant of time-based restricted stock units (RSUs) to Karen Soares. |
| November 2, 2023 | Date Form 4 was filed reporting the grant of RSUs. |
| April 30, 2025 | Date of transaction: Disposal of shares to cover tax obligations upon vesting of RSUs. |
| May 2, 2025 | Date of signature on the Form 4 filing. |
| October 31, 2025 | Final vesting date of remaining RSUs, subject to continued service. |
Keywords
Form 4, Clover Health Investments, Karen Soares, Stock Disposal, Tax Obligations, RSUs, CLOV, Beneficial Ownership
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