Form 4: ModivCare CEO Sells Shares to Cover Tax Obligations

ModivCare's CEO, Heath Sampson, sold 55 shares of common stock to cover tax obligations related to a restricted stock unit vesting.

Summary

• ModivCare's CEO, Heath Sampson, sold 55 shares of common stock on November 21, 2024.
• The sale was executed at a price of $17.47 per share.
• This transaction was to cover tax withholding obligations related to the vesting of a previously reported restricted stock unit award.
• Following the transaction, Mr. Sampson directly owns 40,344 shares of ModivCare common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes and does not indicate any positive or negative sentiment towards the company's performance or future prospects.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The number of shares sold is relatively small compared to the total holdings of the CEO, suggesting this is a routine tax-related transaction rather than a significant change in sentiment.
• Similar transactions are regularly reported by executives at companies like UnitedHealth Group (UNH) and Humana (HUM), which are also in the healthcare services sector.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

ModivCare, CEO, Heath Sampson, stock sale, Form 4, insider trading, restricted stock unit, tax withholding