Form 4: ModivCare Director David A. Coulter Acquires Shares in Lieu of Cash Retainer

Director David A. Coulter acquired 1,619 shares of ModivCare Inc. common stock on September 30, 2024, as part of the company's non-employee director compensation program.

Summary

• On September 30, 2024, David A. Coulter, a director of ModivCare Inc., acquired 1,619 shares of common stock.
• The shares were granted under the company's 2006 Long-Term Incentive Plan, as amended.
• The acquisition was in lieu of quarterly cash retainer fees.
• The price per share was $14.28.
• Following the transaction, Coulter directly owns 34,263 shares of ModivCare Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction (director share acquisition) which is generally viewed as a sign of confidence, but it's not a major event.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The use of equity in lieu of cash may preserve cash for the company.

Industry Context

Director share acquisitions are common and are often viewed positively by investors as they align the interests of management with those of shareholders.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• Granting shares in lieu of cash retainers is a fairly standard practice among publicly traded companies to conserve cash and align director interests with shareholder value.

Related Party Transactions

• The grant of shares to the director in lieu of cash retainer fees is a related party transaction.

Stakeholder Impact

• Shareholders may view the director's share acquisition positively.
• The company conserves cash by issuing shares instead of paying cash retainers.

Key Dates