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

Signature
/s/ Peter J. Rivas as attorney-in-fact for Conrad Wai
Stock symbol
CLOV
Transactions as of
Sep 13, 2024
Transactions value $
-$572,277
Form type
4
Date filed
9/17/2024, 04:07 PM
Previous filing
Jun 18, 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 +190K +6.66% $0.00 3.04M Sep 13, 2024 Direct F1
transaction CLOV Class A Common Stock Tax liability -$279K -93.2K -3.06% $2.99 2.95M Sep 13, 2024 Direct F2
transaction CLOV Class A Common Stock Tax liability -$294K -98.2K -3.33% $2.99 2.85M Sep 14, 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 14, 2024, of 6.25% of the restricted stock units ("RSUs") granted to the Reporting Person on March 14, 2022. The remaining RSUs will vest in equal quarterly installments, with the final vesting occurring on March 14, 2026, in each case subject to the continued service of the Reporting Person on each such vesting date.