Joseph F. Wagner - 09 Aug 2021 Form 4 Insider Report for CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV)

Role
Chief Financial Officer
Signature
Joseph Wagner
Issuer symbol
CLOV
Transactions as of
09 Aug 2021
Net transactions value
$0
Form type
4
Filing time
11 Aug 2021, 18:18:30 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLOV Class A Common Stock Conversion of derivative security +25,000 25,000 09 Aug 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CLOV Stock Options (right to buy) Options Exercise $0 -25,000 -4.8% $0.000000 492,018 09 Aug 2021 Class B Common Stock 25,000 $2.23 Direct F2
transaction CLOV Class B Common Stock Options Exercise $0 +25,000 $0.000000 25,000 09 Aug 2021 Class A Common Stock 25,000 $2.23 Direct F1
transaction CLOV Class B Common Stock Conversion of derivative security $0 -25,000 -100% $0.000000* 0 09 Aug 2021 Class A Common Stock 25,000 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Class B Common Stock will be convertible into shares of Class A Common Stock on a one-to-one basis at the option of the holders of the Class B Common Stock at any time upon written notice to the Issuer. In addition, the Class B Common Stock will automatically convert into shares of Class A Common Stock immediately prior to the close of business on the earliest to occur of certain events specified in the Issuer's Amended and Restated Certificate of Incorporation.
F2 100% of the stock option is immediately exercisable. The stock option vested as to 1/5th of the total number of shares on December 30, 2020 and continues to vest as to 1/60th of the total number of shares in equal monthly installments thereafter, subject to the continuous service of the Reporting Person on each vesting date.