Sandra D. van der Vaart - 27 Mar 2024 Form 4 Insider Report for LABORATORY CORP OF AMERICA HOLDINGS (LH)

Role
EVP, Chief Legal Officer
Signature
/s/ Sandra D. van der Vaart
Issuer symbol
LH
Transactions as of
27 Mar 2024
Net transactions value
-$1,334,242
Form type
4
Filing time
29 Mar 2024, 17:54:48 UTC
Previous filing
15 Feb 2024
Next filing
16 May 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LH Common Stock Options Exercise +6,158 +81% 13,795 27 Mar 2024 Direct F1
transaction LH Common Stock Tax liability $564,165 -2,605 -19% $216.57 11,190 27 Mar 2024 Direct F2
transaction LH Common Stock Sale $770,077 -3,553 -32% $216.74 7,637 28 Mar 2024 Direct F3

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 LH Restricted Stock Unit Options Exercise -6,158 -74% 2,190 27 Mar 2024 Common Stock 6,158 Direct F1, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents the contingent right to receive one share of Laboratory Corporation of America Holdings ("Labcorp") Common Stock.
F2 Stock withholding to satisfy tax withholding obligations.
F3 Pursuant to a plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
F4 As previously reported, in connection with the spin-off ("Spin-Off") of Fortrea Holdings Inc. ("Fortrea") by Labcorp, performance awards granted by Labcorp in 2021 for the 3-year performance period through December 31, 2023 (the "2021 PSA") were converted into time-vesting RSUs of Labcorp pursuant to the terms of the Employee Matters Agreement (the "EMA") by and between Labcorp and Fortrea. The 2021 PSA was converted into a number of time-vesting Labcorp RSUs, based on the degree of achievement of the performance criteria subject to the 2021 PSA prior to the Spin-Off and the final adjustment ratio applied to Labcorp equity awards in connection with the Spin-Off, calculated pursuant to the terms of the EMA, which fully vested on March 27, 2024.
F5 This number reflects the aggregate number of RSUs held by the reporting person.