[Form 4] Clover Health Investments, Corp Insider Trading Activity

Rhea-AI Filing Summary

Natuzzi S.p.A. (NYSE: NTZ) filed a Form 6-K to announce that CEO and executive director Antonio Achille resigned effective 30 July 2025 after four years in the role. The Board has granted interim CEO authority to Executive Chairman Pasquale Natuzzi while a search for a permanent successor is conducted. No financial figures or changes to strategic guidance were disclosed in this filing.

The resignation removes the architect of the company’s recent transformation program, introducing near-term leadership uncertainty at a critical point in Natuzzi’s turnaround efforts. However, continuity is partially preserved because the founder-chairman will steer operations temporarily. Investors’ focus will shift to the timing, profile and mandate of the eventual replacement and whether current strategic initiatives remain intact.

Positive

• Continuity measure: Executive Chairman Pasquale Natuzzi assumes interim CEO duties, limiting immediate operational disruption.

Negative

• Leadership uncertainty: Resignation of transformation-focused CEO introduces execution risk during ongoing turnaround.
• Governance concentration: Founder now holds both chair and interim CEO roles, potentially reducing board independence.

Insights

Corporate Governance Expert

TL;DR: CEO exit is material governance event; interim stability but succession risk.

Achille’s departure eliminates the executive credited with driving strategic restructuring since 2021. While founder Pasquale Natuzzi can ensure day-to-day continuity, he also concentrates significant authority, raising independence questions. The market will scrutinize the board’s succession process, candidate quality and timeline; prolonged uncertainty could delay operational initiatives, weaken employee morale and complicate external partnerships.

Portfolio Manager

TL;DR: Leadership void elevates execution risk; monitor successor search.

The filing contains no financial data, so valuation impact hinges on qualitative factors. Recent quarters showed gradual margin recovery; losing the CEO threatens that momentum. Interim leadership by the founder reduces immediate disruption, yet his strategic bias may differ from investors’ preference for disciplined cost control. I view the news as modestly negative until clarity on a permanent hire emerges.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kuipers Peter J.

(Last) (First) (Middle)

C/O CLOVER HEALTH INVESTMENTS, CORP.

NOT APPLICABLE

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CLOVER HEALTH INVESTMENTS, CORP. /DE [ CLOV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/29/2025		F		217,382(1)	D	$2.89	6,132,591	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of Class A Common Stock that were automatically withheld to cover tax obligations upon the vesting, on July 29, 2025, of 6.25% of the original number of time-based restricted stock units ("RSUs") granted to the Reporting Person on April 29, 2024. The remaining RSUs vest in equal quarterly installments beginning on the date that is three months after July 29, 2025, and ending on April 29, 2028, in each case subject to the continued service of the Reporting Person on such vesting date.

Remarks:

	Peter J. Rivas as attorney-in-fact for Peter Kuipers	07/31/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Why did Natuzzi (NTZ) file a Form 6-K on 31 July 2025?

The company disclosed that CEO Antonio Achille resigned effective 30 July 2025 and delegated interim leadership to Executive Chairman Pasquale Natuzzi.

Who is leading Natuzzi after Antonio Achille’s resignation?

Founder and Executive Chairman Pasquale Natuzzi has been granted CEO powers on an interim basis until a successor is appointed.

Is there any financial guidance change in this 6-K?

No. The filing contains no updates to revenue, margin or earnings guidance.

How long had Antonio Achille served as CEO of Natuzzi?

He became CEO and executive director in 2021, serving roughly four years before resigning.

What risks does the CEO change pose to investors?

Leadership turnover can delay strategic initiatives, affect employee morale and concentrate governance power in the interim period.