Adam H. Schechter - Jun 30, 2023 Form 4 Insider Report for LABORATORY CORP OF AMERICA HOLDINGS (LH)

Signature
/s/ Sandra D. van der Vaart, Attorney-in-Fact for Adam H. Schechter
Stock symbol
LH
Transactions as of
Jun 30, 2023
Transactions value $
$0
Form type
4
Date filed
7/5/2023, 08:04 PM
Previous filing
May 17, 2023
Next filing
Aug 17, 2023

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 Award $0 +73K +433.88% $0.00 89.8K Jun 30, 2023 Common Stock 73K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit represents the contingent right to receive one share of Laboratory Corporation of America Holdings Common Stock.
F2 In connection with the spin-off ("Spin-Off") of Fortrea Holdings Inc. ("Fortrea") by Laboratory Corporation of America Holdings ("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 restricted stock units ("RSUs") of Labcorp pursuant to the terms of the Employee Matters Agreement by and between Labcorp and Fortrea (the "EMA"). 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 adjustment ratio that applies to Labcorp equity awards in the Spin-Off, with vesting on the 30th day following Labcorp's filing of an annual report on Form 10-K that includes audited financial statements with respect to the 3-year period ending December 31, 2023. Amounts are estimates pending finalization of the adjustment ratio pursuant to the EMA.
F3 This number reflects the aggregate number of Restricted Stock Units held by the reporting person.