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Clover Health Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4)

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Clover Health announced the grant of restricted stock units to its new Chief Financial Officer, Peter Kuipers. The RSUs represent the right to receive 4,228,753 shares of the Company's Class A Common Stock, with vesting over four years. This grant was made under the Company's Inducement Award Plan to attract new talent.

Clover Health ha annunciato l'assegnazione di unità di stock ristrette al suo nuovo direttore finanziario, Peter Kuipers. Le RSU rappresentano il diritto di ricevere 4.228.753 azioni della Class A Common Stock della società, con maturazione distribuita su quattro anni. Quest'assegnazione è stata effettuata nell'ambito del Piano di Premio di Induzione della società per attrarre nuovi talenti.
Clover Health anunció la concesión de unidades de stock restringidas a su nuevo Director Financiero, Peter Kuipers. Las RSU representan el derecho a recibir 4.228.753 acciones de la Clase A de Acciones Comunes de la Compañía, con un periodo de consolidación de cuatro años. Esta concesión se realizó bajo el Plan de Premios de Inducción de la Compañía para atraer nuevo talento.
Clover Health은 새로운 최고재무책임자(CFO) 피터 큐퍼스에게 제한 주식 단위를 부여했다고 발표했습니다. RSU는 4년에 걸쳐 회사의 Class A 보통주 4,228,753주를 받을 권리를 나타냅니다. 이 부여는 신규 인재를 유치하기 위한 회사의 유인 부상 계획에 따라 이루어졌습니다.
Clover Health a annoncé l'attribution d'unités d'actions restreintes à son nouveau directeur financier, Peter Kuipers. Les RSU représentent le droit de recevoir 4 228 753 actions de la catégorie A du capital ordinaire de l'entreprise, avec une période d'acquisition échelonnée sur quatre ans. Cette attribution a été effectuée dans le cadre du Plan de Primes d'Incitation de l'entreprise pour attirer de nouveaux talents.
Clover Health gab die Zuteilung von Restricted Stock Units an seinen neuen Chief Financial Officer, Peter Kuipers, bekannt. Die RSUs berechtigen zum Erhalt von 4.228.753 Aktien der Klasse A der Stammaktien des Unternehmens, die über vier Jahre verteilt vestiert werden. Die Gewährung erfolgte unter dem Anreizpreisplan des Unternehmens, um neues Talent anzuziehen.
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FRANKLIN, Tenn., April 30, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover” or the “Company”), a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare, announced today that effective April 29, 2024, the Talent and Compensation Committee of the Company’s Board of Directors granted a restricted stock unit award (the “RSUs”) to Peter Kuipers, who will be the Company’s new Chief Financial Officer effective as of the day after filing of our Quarterly Report on Form 10-Q for the quarter-ended March 31, 2024. The RSUs were granted under the Company’s 2022 Inducement Award Plan (the “Inducement Plan”) and will be subject to the terms and conditions of an award agreement and the Inducement Plan.

The RSUs represent the employee’s right to receive 4,228,753 shares of the Company's Class A Common Stock, subject to such award’s applicable vesting schedule. 25% of the RSUs will vest on the first anniversary of April 29, 2024, with the remaining RSUs vesting in equal quarterly installments over the subsequent three years, subject to the continued service of the employee at each such vesting date.

The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Clover, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with the Company, pursuant to Nasdaq Listing Rule 5635(c)(4).

About Clover Health:
Clover Health (Nasdaq: CLOV) is a physician enablement company committed to bringing access to great healthcare to everyone on Medicare. This includes a health equity-based focus on seniors who have historically lacked access to affordable, high-quality healthcare. Our strategy is powered by our software platform, Clover Assistant, which is designed to aggregate patient data from across the healthcare ecosystem to support clinical decision-making and improve health outcomes through the early identification and management of chronic disease.

Visit: www.cloverhealth.com

Press Contact:
Andrew Still-Baxter
press@cloverhealth.com

Investor Relations Contact:
Ryan Schmidt
investors@cloverhealth.com


FAQ

Who received the restricted stock unit award?

Peter Kuipers received the restricted stock unit award.

How many shares does the RSUs represent?

The RSUs represent 4,228,753 shares of the Company's Class A Common Stock.

What is the vesting schedule for the RSUs?

25% of the RSUs will vest on the first anniversary of April 29, 2024, with the remaining RSUs vesting in equal quarterly installments over the subsequent three years.

Under what plan were the RSUs granted?

The RSUs were granted under the Company's 2022 Inducement Award Plan.

What is the purpose of the Inducement Plan?

The Inducement Plan is used to grant equity awards to individuals who are not previous employees of Clover or are rejoining after a period of non-employment.

Clover Health Investments, Corp.

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About CLOV

clover health (nasdaq: clov) is a physician enablement company focused on seniors who have historically lacked access to affordable, high-quality healthcarewe aim to provide great care, in a sustainable way, by having a business model built around improving medical outcomes while lowering avoidable costs. we do this while taking a holistic approach to understanding the health needs and social risk factors of those under our care. this strategy is underpinned by our proprietary software platform, the clover assistant, which is designed to aggregate patient data from across the health ecosystem to support clinical decision-making by presenting physicians and other providers with real-time, personalized recommendations at the point of care.making care more accessible is at the heart of our business, and we believe patients should have the freedom to choose their doctors. we offer affordable medicare advantage plans with extensive benefits, provide primary care physicians with the clover a