Karen Soares - Sep 13, 2024 Form 4 Insider Report for CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV)

Signature
/s/Peter J. Rivas as attorney-in-fact for Karen M. Soares
Stock symbol
CLOV
Transactions as of
Sep 13, 2024
Transactions value $
-$369,956
Form type
4
Date filed
9/17/2024, 04:07 PM
Previous filing
Aug 16, 2024
Next filing
Oct 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLOV Class A Common Stock Award $0 +259K +26.7% $0.00 1.23M Sep 13, 2024 Direct F1
transaction CLOV Class A Common Stock Disposed to Issuer -$351K -117K -9.55% $2.99 1.11M Sep 13, 2024 Direct F2
transaction CLOV Class A Common Stock Disposed to Issuer -$19.1K -6.39K -0.57% $2.99 1.11M Sep 15, 2024 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs"), each representing a right to a share of Class A Common Stock, earned in connection with the determination of the level of performance achievement in satisfaction of vesting conditions underlying a performance-based restricted share unit grant awarded on October 31, 2023. One-half of the number of earned restricted stock units vested and were settled on September 13, 2024, and the remaining one-half of the restricted stock units will vest on October 31, 2025, subject to the Reporting Person's continued employment on such vesting date.
F2 Represents shares of Class A Common Stock that were automatically withheld to cover tax obligations due to the vesting of 1/2 of the number of earned performance-based restricted stock units, as described above.
F3 Represents shares of Class A Common Stock that were automatically withheld to cover tax obligations due to the vesting on September 15, 2024, of 6.25% of the restricted stock units ("RSUs") granted to the Reporting Person on September 15, 2022. The remaining RSUs will vest in equal quarterly installments, with the final vesting occurring on September 15, 2026, in each case subject to the continued service of the Reporting Person on each such vesting date.