CLOV.NASDAQClover Health Investments, CORP /DE

Form 4: Clover Health Investments General Counsel Sells Shares to Cover Tax Obligations

Sentiment:

SEC Form 4 Filing

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

Summary

  • On May 14, 2024, Karen Soares, the General Counsel & Secretary of Clover Health Investments, sold 5,241 shares of Class A Common Stock.
  • The sale was executed at a price of $1.02 per share.
  • This transaction was to cover tax obligations related to the vesting of 6.25% of time-based restricted stock units (RSUs) granted on February 14, 2022.
  • Following the transaction, Soares directly owns 979,760 shares of Class A Common Stock.
  • The remaining RSUs vest quarterly in equal installments of 6.25%, with the final vesting date on February 14, 2026, contingent upon continued service.

Sentiment

Score: 5

Explanation: This is a neutral event related to routine stock transactions for tax purposes. It doesn't indicate a positive or negative outlook for the company.

Future Outlook

The remaining RSUs will continue to vest quarterly until February 14, 2026, subject to continued service of the Reporting Person.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Key Dates

DateDescription
February 14, 2022Date of original grant of time-based restricted stock units (RSUs).
May 14, 2024Date of transaction: sale of shares to cover tax obligations upon vesting of RSUs.
February 14, 2026Final vesting date for the remaining RSUs, subject to continued service.

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