Form 4: InnovAge COO Sells 33,000 Shares

InnovAge Holding Corp.'s President and COO, Michael Anthony Scarbrough, sold 33,000 shares of common stock on November 14, 2025, at a weighted average price of $4.90 per share.

Summary

• Michael Anthony Scarbrough, President and COO of InnovAge Holding Corp. (INNV), reported a transaction involving the disposition of common stock.
• The transaction occurred on November 14, 2025, and involved the sale of 33,000 shares of InnovAge Holding Corp. common stock.
• The shares were sold at a weighted average price of $4.90 per share, with individual transaction prices ranging from $4.81 to $5.01.
• Following this sale, Michael Anthony Scarbrough beneficially owns 119,617 shares of InnovAge Holding Corp. common stock.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 4

Explanation: The sale of 33,000 shares by a key executive (President and COO) could be interpreted negatively by investors, suggesting a potential lack of confidence or a belief that the stock is fully valued. However, the transaction was made pursuant to a Rule 10b5-1(c) plan, which indicates a pre-scheduled sale rather than a reaction to immediate news, thus mitigating some of the negative sentiment.

Negatives

• President and COO Michael Anthony Scarbrough sold 33,000 shares of common stock, which can sometimes be perceived negatively by the market.

Risks

• Potential investor perception of reduced insider confidence due to the sale of a significant number of shares by a key executive.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: May perceive the insider sale as a signal, potentially influencing their investment decisions regarding InnovAge Holding Corp. stock.

Next Steps

• The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the reported range.

Key Dates

Recommendation

The sale of shares by the President and COO, while notable, was conducted under a Rule 10b5-1(c) plan, suggesting it was a pre-arranged transaction rather than a reaction to new material non-public information. While insider selling can sometimes be a bearish signal, this single transaction, without additional context on the company's financial performance, strategic outlook, or broader insider activity, does not provide sufficient grounds for a strong buy or sell recommendation. Investors should monitor future insider activity and company fundamentals.

Keywords

InnovAge, INNV, Michael Anthony Scarbrough, insider trading, Form 4, stock sale, common stock, executive compensation, 10b5-1 plan