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

Role
President, Home Division
Signature
/s/ Jennifer Jaskolka by Power of Attorney
Stock symbol
MODV
Transactions as of
Feb 14, 2024
Transactions value $
$0
Form type
4
Date filed
2/22/2024, 09:26 PM
Previous filing
May 18, 2023
Next filing
May 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODV Common Stock Award $0 +6.13K +52.12% $0.00 17.9K Feb 14, 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 +9.2K $0.00 9.2K Feb 14, 2024 Common Stock 9.2K 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