Clover Health exec RSU tax shares withheld
Clover Health Investments, Corp. reported an insider equity event involving executive Conrad Wai.
Rhea-AI Filing Summary
Clover Health Investments, Corp. reported an insider equity event involving executive Conrad Wai. On April 15, 2026, 23,463 shares of Class A Common Stock were automatically withheld at $2.04 per share to cover tax obligations arising from the vesting of restricted stock units granted in October 2024.
The vested portion represented 6.25% of the original RSU grant, with additional 6.25% installments scheduled to vest quarterly through October 15, 2028, subject to continued service. Following this tax-withholding disposition, Wai holds 1,169,914 shares directly and 1,610,482 shares indirectly through a family trust where he is co-trustee.
Positive
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Negative
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Insider Trade Summary
Exercise Price or Tax Liability: 23,463 shares
Exercise Price or Tax Liability
2 txns
Insider
Wai Conrad
Role
CEO, Counterpart Health
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Class A Common Stock | 23,463 | $2.04 | $48K |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 1,169,914 shares (Direct);
Class A Common Stock — 1,610,482 shares (Indirect, By Trust.)
Footnotes (2)
- F1. Represents shares of Class A Common Stock that were automatically withheld to cover tax obligations on April 15, 2026, due to the vesting of 6.25% of the original number of restricted stock units (RSUs) granted to the Reporting Person on October 15, 2024, and timely reported on a Form 4 filed on October 17, 2024. The remaining RSUs vest quarterly in equal installments of 6.25%, with the final vesting date occurring on October 15, 2028, subject to the continued service of the Reporting Person on each such vesting date.
- F2. Shares held in trust for the benefit of the Reporting Person's family, of which the Reporting Person is a co-trustee.
Key Figures
Tax-withheld shares: 23,463 shares
Withholding price: $2.04 per share
Direct holdings after: 1,169,914 shares
+3 more
6 metrics
Tax-withheld shares
23,463 shares
Class A Common Stock withheld for tax obligations on April 15, 2026
Withholding price
$2.04 per share
Value used for tax-withholding disposition of Class A shares
Direct holdings after
1,169,914 shares
Direct Class A Common Stock owned following the transaction
Indirect holdings after
1,610,482 shares
Class A shares held indirectly in a family trust
Quarterly RSU vesting rate
6.25%
Portion of original RSU grant vesting each quarter
Final RSU vesting date
October 15, 2028
Scheduled final vesting date for the RSU grant, subject to service
Key Terms
restricted stock units (RSUs), tax obligations, withheld, vesting, +1 more
5 terms
restricted stock units (RSUs) financial
"due to the vesting of 6.25% of the original number of restricted stock units (RSUs) granted"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
tax obligations financial
"shares of Class A Common Stock that were automatically withheld to cover tax obligations on April 15, 2026"
withheld financial
"were automatically withheld to cover tax obligations on April 15, 2026"
vesting financial
"The remaining RSUs vest quarterly in equal installments of 6.25%"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
trust financial
"Shares held in trust for the benefit of the Reporting Person's family"
A trust is a legal setup in which one party (the trustee) holds and manages assets—like cash, stocks or property—on behalf of other people (beneficiaries) according to instructions from the person who created it (the grantor). Think of it as a locked box with a keyholder who must follow written rules; for investors it matters because trusts influence who controls and benefits from assets, affect taxes and succession, and can change how quickly or transparently shares are bought, sold or voted.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did the CLOV Form 4 filing report for Conrad Wai?
The filing shows 23,463 Clover Health Class A shares were withheld to cover taxes on vested RSUs. This was a compensation-related tax withholding, not an open-market purchase or sale, and reflects routine equity award administration for the executive.
What are RSUs and how are Conrad Wai’s CLOV RSUs vesting?
Restricted stock units (RSUs) grant shares over time as service conditions are met. Wai’s RSUs from October 15, 2024 vest 6.25% at a time, in equal quarterly installments, with the final vesting date scheduled for October 15, 2028, subject to continued service.
Was the CLOV insider transaction an open-market sale or purchase?
No. The Form 4 shows a tax-withholding disposition coded “F,” meaning shares were withheld by the company to pay tax obligations on RSU vesting. It does not represent an open-market buy or sell decision by the executive.
AI-generated analysis. How Rhea-AI works. Not financial advice.
