Anne E. Bailey - 16 May 2023 Form 4 Insider Report for ModivCare Inc (MODV)

Role
President, Home Division
Signature
/s/ Jonathan B. Bush by Power of Attorney
Issuer symbol
MODV
Transactions as of
16 May 2023
Net transactions value
$0
Form type
4
Filing time
18 May 2023, 16:15:51 UTC
Previous filing
30 Mar 2023
Next filing
22 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODV Common Stock Award $0 +11,770 $0.000000 11,770 16 May 2023 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 MODV Performance Restricted Stock Units Award $0 +7,062 $0.000000 7,062 16 May 2023 Common Stock 7,062 Direct F2
transaction MODV Employee Stock Option (Right to Buy) Award $0 +11,809 $0.000000 11,809 16 May 2023 Common Stock 11,809 $53.10 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units scheduled to vest as follows: (i) 3,923 shares will vest on May 16, 2024, (ii) 3,924 shares will vest on May 16, 2025 and (iii) 3,923 shares will vest on May 16, 2026, in each case, subject to the reporting person's continued employment.
F2 Represents the contingent right to receive a number of shares of issuer common stock determined by multiplying the number of performance units by a percentage from 50% to 200% that corresponds to specified revenue and Adjusted EBITDA thresholds measured by reference to the issuer's audited financial statements for its fiscal year ending December 31, 2025, subject to the reporting person's continued employment through the vesting date of May 16, 2026. The number of shares of common stock reported assumes a revenue and Adjusted EBITDA performance target achieved that corresponds to a 100% payout level.
F3 Option becomes exercisable with respect to: (i) 3,936 shares on May 16, 2024, (ii) 3,937 shares on May 16, 2025 and (iii) 3,936 shares on May 16, 2026, in each case, subject to the reporting person's continued employment.