Matthew Malenfant - 01 Mar 2022 Form 4 Insider Report for COVETRUS, INC.

Role: Chief Commercial Officer
Signature: /s/ Margaret B. Pritchard, as attorney-in-fact for Matthew Malenfant
Issuer symbol: N/A
Transactions as of: 01 Mar 2022
Net transactions value: -$119,631
Form type: 4
Filing time: 03 Mar 2022, 15:10:40 UTC
Previous filing: 03 Sep 2021
Next filing: 20 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CVET	Common Stock	Options Exercise	$0	+6,472	+21%	$0.000000	37,609	01 Mar 2022	Direct	F1
transaction	CVET	Common Stock	Award	$0	+17,507	+47%	$0.000000	55,116	01 Mar 2022	Direct	F2, F3
transaction	CVET	Common Stock	Tax liability	$119,631	-6,702	-12%	$17.85	48,414	01 Mar 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	-6,472	-33%	$0.000000	13,140	01 Mar 2022	Common Stock	6,472		Direct	F1, F5
transaction	CVET	Restricted Stock Units	Award	$0	+42,468		$0.000000	42,468	01 Mar 2022	Common Stock	42,468		Direct	F1, F5
transaction	CVET	Restricted Stock Units	Award	$0	+73,612		$0.000000	73,612	01 Mar 2022	Common Stock	73,612		Direct	F1, F6

* 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 1,779 shares and 4,923 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.
F6	Subject to the Reporting Person's continuous service as an employee of the Issuer, the RSUs will vest 25% every six months in equal ratable increments.