Clover Health (CLOV) executive granted 267,766 RSUs and reports large share holdings
Rhea-AI Filing Summary
Wai Conrad reported acquisition or exercise transactions in this Form 4 filing.
Clover Health Investments reported that executive Wai Conrad, CEO of Counterpart Health, received a grant of 267,766 shares of Class A common stock in the form of time-based restricted stock units. The award was granted at $0.00 per share, reflecting a compensation grant rather than a market purchase.
According to the vesting schedule, 25% of these RSUs will vest on the first anniversary of April 1, 2026, with the remaining units vesting in twelve equal quarterly installments beginning three months after that first anniversary, so that all RSUs are fully vested on April 1, 2030, subject to Mr. Conrad’s continued service. Following this grant, he holds 1,193,377 shares directly, and a family trust, for which he is a co-trustee, holds 1,610,482 shares indirectly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 267,766 shares
Net Buy
2 txns
Insider
Wai Conrad
Role
CEO, Counterpart Health
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 267,766 | $0.00 | $0.00 |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 1,193,377 shares (Direct);
Class A Common Stock — 1,610,482 shares (Indirect, By Trust.)
Footnotes (2)
- F1. 1. Represents shares of Class A common stock underlying a time-based restricted stock unit award ("RSUs"). Twenty-five percent of the RSUs will vest on the first anniversary of April 1, 2026, and the remaining RSUs will vest in twelve equal quarterly installments beginning on the date that is three months after the first anniversary of April 1, 2026, in each case subject to the continued service of the Reporting Person on each such vesting date, so that such RSUs will be fully vested on April 1, 2030.
- 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
RSU grant size: 267,766 shares
Grant price: $0.00 per share
Direct holdings after grant: 1,193,377 shares
+3 more
6 metrics
RSU grant size
267,766 shares
Time-based restricted stock units granted on April 1, 2026
Grant price
$0.00 per share
Equity compensation grant, not an open-market purchase
Direct holdings after grant
1,193,377 shares
Class A common stock held directly by Wai Conrad
Indirect trust holdings
1,610,482 shares
Class A common stock held in family trust where he is co-trustee
Initial vesting date
April 1, 2027
25% of RSUs vest on the first anniversary of April 1, 2026
Final vesting date
April 1, 2030
RSUs fully vested by this date, subject to continued service
Key Terms
restricted stock unit, RSUs, time-based, co-trustee
4 terms
restricted stock unit financial
"Represents shares of Class A common stock underlying a time-based restricted stock unit award"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
RSUs financial
"Twenty-five percent of the RSUs will vest on the first anniversary of April 1, 2026"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
time-based financial
"Represents shares of Class A common stock underlying a time-based restricted stock unit award"
co-trustee financial
"Shares held in trust for the benefit of the Reporting Person's family, of which the Reporting Person is a co-trustee"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did CLOV executive Wai Conrad report on this Form 4?
Wai Conrad reported receiving a grant of 267,766 Class A common shares in the form of restricted stock units. The award was granted at $0.00 per share as equity compensation, not a market purchase, and is subject to a multi-year service-based vesting schedule.
How do the new RSUs for CLOV’s Wai Conrad vest over time?
The grant vests 25% of the RSUs on the first anniversary of April 1, 2026. The remaining units vest in twelve equal quarterly installments starting three months after that anniversary, with all RSUs fully vested by April 1, 2030, assuming continued service.
Is the CLOV Form 4 transaction a stock purchase or compensation grant?
The transaction is a compensation-related grant of 267,766 restricted stock units at $0.00 per share, not an open-market stock purchase. Value to the executive depends on future vesting and the company’s share price performance over the multi-year vesting period.
What does the family trust holding mean in the CLOV Form 4 for Wai Conrad?
The filing notes 1,610,482 shares are held in a trust for the benefit of Mr. Conrad’s family, where he is a co-trustee. This indicates indirect ownership and shared authority, adding to his overall economic exposure beyond his directly held 1,193,377 shares.