Clover Health (CLOV) executive stock withheld to cover RSU tax bill
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Clover Health Investments executive Brady Patrick Priest, CEO of Clover Care Services, reported an automatic tax-withholding share disposition tied to vesting RSUs. On April 15, 2026, 15,471 shares of Class A Common Stock were withheld at $2.04 per share to cover tax obligations, not sold on the open market.
The withheld shares relate to 6.25% of the original RSU grant awarded on October 15, 2024. Following this routine tax-withholding event, Priest directly holds 2,174,374 Class A shares. The remaining RSUs are scheduled to vest in equal 6.25% quarterly installments through October 15, 2028, contingent on continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Priest Brady Patrick
Role
CEO of Clover Care Services
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock | 15,471 | $2.04 | $32K |
Holdings After Transaction:
Class A Common Stock — 2,174,374 shares (Direct)
Footnotes (1)
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Key Figures
Tax-withheld shares: 15,471 shares
Reference price per share: $2.04 per share
Shares held after transaction: 2,174,374 shares
+2 more
5 metrics
Tax-withheld shares
15,471 shares
Class A Common Stock withheld on April 15, 2026
Reference price per share
$2.04 per share
Value used for withheld shares on April 15, 2026
Shares held after transaction
2,174,374 shares
Direct Class A holdings following tax withholding
Quarterly RSU vesting rate
6.25%
Portion of original RSU grant vesting each quarter
RSU grant and final vesting dates
October 15, 2024 to October 15, 2028
RSU grant date and final scheduled vesting date
Key Terms
restricted stock units (RSUs), tax obligations, vesting, Class A Common Stock, +1 more
5 terms
restricted stock units (RSUs) financial
"original number of restricted stock units (RSUs) granted to the Reporting Person"
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
"automatically withheld to cover tax obligations on April 15, 2026"
vesting financial
"due to the vesting of 6.25% of the original number of restricted stock units"
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.
Class A Common Stock financial
"Represents shares of Class A Common Stock that were automatically withheld"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Form 4 regulatory
"timely reported on a Form 4 filed on October 17, 2024"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What insider transaction did CLOV executive Brady Patrick Priest report?
Brady Patrick Priest reported an automatic tax-withholding disposition of 15,471 shares of Class A Common Stock. The shares were withheld at $2.04 each to satisfy tax obligations triggered by RSU vesting, rather than being sold in an open-market transaction.
Is the CLOV insider transaction an open-market sale or routine tax withholding?
The transaction is routine tax withholding, not an open-market sale. Shares were automatically withheld by Clover Health to satisfy tax liabilities related to RSU vesting, a common administrative mechanism that does not reflect an active trading decision in the public market.
How do Brady Patrick Priest’s CLOV RSUs vest over time?
The RSUs granted on October 15, 2024 vest in equal 6.25% quarterly installments. Vesting continues on scheduled dates through October 15, 2028, subject to Brady Patrick Priest’s continued service with Clover Health, creating a multi-year, time-based equity compensation structure.