Matthew J. Foulston - Mar 1, 2022 Form 4 Insider Report for COVETRUS, INC. (CVET)

Role: Chief Financial Officer
Signature: /s/ Margaret B. Pritchard as attorney-in-fact for Matthew J. Foulston
Stock symbol: CVET
Transactions as of: Mar 1, 2022
Transactions value $: -$135,963
Form type: 4
Date filed: 3/3/2022, 03:12 PM
Previous filing: Jun 3, 2021
Next filing: Jun 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CVET	Common Stock	Options Exercise	$0	+10.2K	+24.06%	$0.00	52.8K	Mar 1, 2022	Direct	F1, F2
transaction	CVET	Common Stock	Award	$0	+20.7K	+39.25%	$0.00	73.6K	Mar 1, 2022	Direct	F3, F4
transaction	CVET	Common Stock	Tax liability	-$136K	-7.62K	-10.35%	$17.85	66K	Mar 1, 2022	Direct	F5

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	-10.2K	-33%	$0.00	20.8K	Mar 1, 2022	Common Stock	10.2K		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	Includes 785 shares acquired under the Covetrus Employee Stock Purchase Plan on November 30, 2021.
F3	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.
F4	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.
F5	Represents 2,496 shares and 5,121 shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting of the RSUs and PSUs, respectively.
F6	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.