Form 4: ModivCare Inc. Executive Rebecca Orcutt Reports Transaction in Company Stock
SEC Form 4 Filing
Rebecca Orcutt, SVP and Chief Accounting Officer of ModivCare Inc., reports the withholding of 49 common stock shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On October 17, 2024, Rebecca Orcutt, SVP and Chief Accounting Officer of ModivCare Inc., reported a transaction involving the company's common stock.
- A total of 49 shares were disposed of at a price of $16.10 per share to cover tax withholding obligations related to the vesting of previously reported restricted stock units.
- Following the transaction, Orcutt directly owns 3,996 shares of ModivCare Inc. common stock.
- Orcutt has granted a Power of Attorney to Barbara Gutierrez, Faisal Khan, Nicole Carry, and Enrique Toledo to execute and file Forms 3, 4, and 5 on her behalf.
Sentiment
Score: 5
Explanation: This is a routine transaction related to tax obligations, so the sentiment is neutral.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. This provides transparency to the market regarding the transactions of those with privileged information.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares disposed of for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 2024-09-24 | Date of execution of the Power of Attorney. |
| 2024-10-17 | Date of the stock transaction (disposal of shares for tax withholding). |
| 2024-10-21 | Date of signature for the Form 4 filing. |
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