Ilias Simpson - Aug 31, 2023 Form 4 Insider Report for ModivCare Inc (MODV)

Signature
/s/ Jonathan B. Bush by Power of Attorney
Stock symbol
MODV
Transactions as of
Aug 31, 2023
Transactions value $
$0
Form type
4
Date filed
9/5/2023, 04:43 PM
Previous filing
Apr 13, 2023
Next filing
Feb 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODV Common Stock Award $0 +9.35K +908.16% $0.00 10.4K Aug 31, 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 +14K $0.00 14K Aug 31, 2023 Common Stock 14K Direct F2
* 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) 3,115 shares will vest on August 31, 2024, (ii) 3,115 shares will vest on August 31, 2025 and (iii) 3,115 shares will vest on August 31, 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 August 31, 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.