Clover Health (CLOV) executive logs small tax-related sell-to-cover stock sale
Rhea-AI Filing Summary
Clover Health Investments executive Jamie L. Reynoso, CEO of Medicare Advantage, reported a small sale of Class A common stock. On June 15, 2026, Reynoso sold 6,350 shares in open-market transactions at a weighted average price around $4.61 per share.
According to the disclosure, these shares were sold solely to cover tax withholding obligations triggered by the vesting of restricted stock units under the company’s equity incentive plans, and are described as non-discretionary “sell to cover” transactions. After this activity, Reynoso directly holds 2,843,571 shares of Clover Health Class A common stock.
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Insider Trade Summary 10b5-1
Net Seller: 6,350 shares
Net Sell
1 txn
Insider
Reynoso Jamie L.
Role
CEO, Medicare Advantage
Sold
6,350 shs ($29K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 6,350 | $4.61 | $29K |
Holdings After Transaction:
Class A Common Stock — 2,843,571 shares (Direct)
Footnotes (2)
- F1. The sales reported on this Form 4 represent shares of Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units ("RSUs"). These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
- F2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.61 to $4.64, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (2) to this Form 4.
Key Figures
Shares sold: 6,350 shares
Weighted average sale price: $4.61 per share
Sale price range: $4.61–$4.64 per share
+2 more
5 metrics
Shares sold
6,350 shares
Open-market sale on June 15, 2026
Weighted average sale price
$4.61 per share
Tax-related sell-to-cover transaction
Sale price range
$4.61–$4.64 per share
Multiple transactions within this range
Shares owned after transaction
2,843,571 shares
Direct Class A common stock holdings post-sale
Net share direction
6,350 net shares sold
Form 4 transaction summary (net-sell)
Key Terms
restricted stock units ("RSUs"), sell to cover, weighted average price
3 terms
restricted stock units ("RSUs") financial
"in connection with the vesting of restricted stock units ("RSUs")."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
sell to cover financial
"funded by a "sell to cover" transaction and do not represent"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
weighted average price financial
"The price reported in column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Clover Health (CLOV) executive Jamie L. Reynoso report in this Form 4?
Jamie L. Reynoso reported selling 6,350 shares of Clover Health Class A common stock. The filing states these sales covered tax withholding obligations from vesting RSUs and were executed as mandated “sell to cover” transactions under the company’s equity incentive plans.
Is Jamie Reynoso’s CLOV stock sale described as discretionary trading?
No. The footnotes state the sales do not represent discretionary trades by Jamie Reynoso. They were mandated by Clover Health’s election under its equity incentive plans to satisfy tax withholding obligations via automatic “sell to cover” transactions when restricted stock units vest.