Form 4: ModivCare Director Frank J. Wright Acquires Shares in Lieu of Cash Retainer

Frank J. Wright, a director at ModivCare Inc, acquired 573 shares of common stock at $23.45 per share on March 29, 2024, in lieu of quarterly cash retainer fees.

Summary

• On March 29, 2024, Frank J. Wright, a director of ModivCare Inc, acquired 573 shares of the company's common stock.
• The shares were acquired at a price of $23.45 per share.
• This acquisition was made in lieu of quarterly cash retainer fees under the company's 2006 Long-Term Incentive Plan.
• Following the transaction, Wright directly owns 19,105 shares of ModivCare Inc.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to director compensation. The director taking shares instead of cash is a slightly positive sign.

Positives

• A director's decision to take shares in lieu of cash may signal confidence in the company's future performance.

Industry Context

Insider transactions are closely monitored as they can provide insights into management's perspective on the company's valuation and future prospects. This transaction reflects a director's continued investment in the company.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it signals confidence from a board member.

Key Dates