Benjamin Wolin - Mar 1, 2022 Form 4 Insider Report for COVETRUS, INC. (CVET)

Role: President and CEO, Director
Signature: /s/ Margaret B. Pritchard, as attorney-in-fact for Benjamin Wolin
Stock symbol: CVET
Transactions as of: Mar 1, 2022
Transactions value $: -$954,190
Form type: 4
Date filed: 3/3/2022, 03:09 PM
Previous filing: Jan 25, 2022
Next filing: Apr 25, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CVET	Common Stock	Options Exercise	$0	+29.7K	+19.48%	$0.00	182K	Mar 1, 2022	Direct	F1
transaction	CVET	Common Stock	Award	$0	+111K	+61.15%	$0.00	293K	Mar 1, 2022	Direct	F2, F3
transaction	CVET	Common Stock	Tax liability	-$954K	-53.5K	-18.24%	$17.85	240K	Mar 1, 2022	Direct	F4

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	CVET	Restricted Stock Units	Options Exercise	$0	-29.7K	-33%	$0.00	60.2K	Mar 1, 2022	Common Stock	29.7K		Direct	F1, F5
transaction	CVET	Restricted Stock Units	Award	$0	+198K		$0.00	198K	Mar 1, 2022	Common Stock	198K		Direct	F1, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock or the cash value thereof.
F2	These shares represent common stock acquired on March 1, 2022 upon settlement of a Performance Share Unit award granted on March 1, 2021 for the performance period ended December 31, 2021.
F3	Each Performance Share Unit ("PSU") represents a contingent right to receive one share of common stock upon vesting based on the attainment of performance goals.
F4	Represents 13,023 shares and 40,433 shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting of the RSUs and PSUs, respectively.
F5	Subject to the Reporting Person's continuous service as an employee of the Issuer, the RSUs will vest 33% at the one-year anniversary of the grant date, then in equal ratable quarterly increments for the subsequent eight quarters.