Form 4: Evolent Health COO Steve Tutewohl Reports Changes in Beneficial Ownership Following Departure

Steve Tutewohl, Chief Operating Officer of Evolent Health, reports changes in beneficial ownership due to the vesting and forfeiture of restricted stock units following his departure from the company.

Summary

• Steve Tutewohl, the Chief Operating Officer of Evolent Health, filed a Form 4 to report changes in his beneficial ownership of the company's stock.
• The filing indicates that on July 1, 2023, Mr. Tutewohl was granted 9,000 restricted stock units (RSUs) under the Evolent Health, Inc. 2015 Omnibus Incentive Compensation Plan.
• Mr. Tutewohl's last day of employment was July 31, 2023, and he ceased to be an officer on July 3, 2023.
• Following his departure, 3,000 of the RSUs vested, and the remaining 6,000 were forfeited, as per his severance and change in control agreement.
• After these transactions, Mr. Tutewohl beneficially owns 136,331 shares of Class A Common Stock, including previously granted restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an executive's departure and stock transactions. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Negatives

• The Form 4 filing was submitted late due to an administrative error.

Industry Context

Executive departures and associated stock transactions are common events in publicly traded companies. Form 4 filings provide transparency into these transactions, allowing investors to track changes in insider ownership.

Management Changes

Stakeholder Impact

• Shareholders are informed about changes in insider ownership.
• Employees may be affected by the change in leadership.

Key Dates