Anne E. Bailey - 14 Feb 2024 Form 4 Insider Report for ModivCare Inc (MODV)

Role
President, Home Division
Signature
/s/ Jennifer Jaskolka by Power of Attorney
Issuer symbol
MODV
Transactions as of
14 Feb 2024
Net transactions value
$0
Form type
4
Filing time
22 Feb 2024, 21:26:12 UTC
Previous filing
18 May 2023
Next filing
17 May 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 +6,134 +52% $0.000000 17,904 14 Feb 2024 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 +9,202 $0.000000 9,202 14 Feb 2024 Common Stock 9,202 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) 2,045 shares will vest on February 14, 2025, (ii) 2,044 shares will vest on February 14, 2026 and (iii) 2,045 shares will vest on February 14, 2027, 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 percentages from 50% to 200% that corresponds to targeted (i) Adjusted EBITDA performance (weighted at 40%) with percentage thresholds to be measured against 2026 Company performance within a range from 80% to 120% of target, and (ii) total shareholder return ("TSR") performance (weighted at 60%) with percentage thresholds measured over the three-year period ending December 31, 2026 and based on the percentile-ranking of the Company's TSR relative to the TSR of the Company's identified peer group and ranges from the 50th percentile to the 100th percentile, subject in each instance to the reporting person's continued employment through February 14, 2027. The number of shares of common stock reported assumes an Adjusted EBITDA and relative TSR performance target achieved that corresponds to an aggregate 100% payout level.

Remarks:

Exhibit Index: Exhibit 24 – Power of Attorney