Form 4: MultiPlan Corp Executive Jeffrey Doctoroff Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP and General Counsel Jeffrey Doctoroff reports acquisition and disposal of MultiPlan Corp Class A common stock due to vesting of restricted stock units and tax withholdings.
Summary
- On March 1, 2024, Jeffrey Doctoroff, EVP and General Counsel of MultiPlan Corp, reported changes in his beneficial ownership of Class A common stock.
- He disposed of 8,436 shares at $1.11 due to tax withholdings related to restricted stock units granted on March 1, 2022.
- He also disposed of 63,247 shares at $1.11 due to tax withholdings related to restricted stock units granted on March 1, 2023.
- Doctoroff acquired 364,865 shares at $1.11 through a grant of restricted stock units.
- These restricted stock units will vest at a rate of 25% per year on each of March 1, 2025, 2026, 2027, and 2028.
- Following these transactions, Doctoroff beneficially owns 1,534,781 shares of Class A common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation. There are no indications of unusual or concerning activity.
Positives
- The grant of 364,865 restricted stock units to Jeffrey Doctoroff indicates continued alignment of executive incentives with company performance.
Future Outlook
The reported restricted stock units will vest in 25% increments annually from March 1, 2025, through March 1, 2028.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor executive compensation and potential alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Date of original restricted stock unit grant related to tax withholding. |
| 03/01/2023 | Date of original restricted stock unit grant related to tax withholding. |
| 03/01/2024 | Date of transaction (disposal and acquisition of shares). |
| 03/05/2024 | Date of signature on the Form 4 filing. |
| 03/01/2025 | First vesting date (25%) of the new restricted stock units. |
| 03/01/2026 | Second vesting date (25%) of the new restricted stock units. |
| 03/01/2027 | Third vesting date (25%) of the new restricted stock units. |
| 03/01/2028 | Final vesting date (25%) of the new restricted stock units. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.