Centene (CNC) director Kenneth Burdick sells 80,000 shares, retains large stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Centene Corp director Kenneth A. Burdick reported an open-market sale of 80,000 shares of Centene common stock at $64.55 per share. A footnote explains that the weighted average sale price reflects trades between $64.55 and $64.61 per share, with detailed breakdowns available on request.
Following this sale, Burdick directly holds 197,085.924 Centene shares, which include 3,992 restricted stock units subject to vesting requirements. Separately, 86,498 Centene shares are held indirectly by the Burdick Family LLC, where he is a chief manager but disclaims beneficial ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insights
Director Burdick sold 80,000 Centene shares but retains a substantial equity stake.
The filing shows Kenneth A. Burdick, a director of Centene Corp, executed an open-market sale of 80,000 common shares at $64.55 per share, with trades occurring between $64.55 and $64.61. This is a straightforward sale, not tied to option exercises.
After the transaction, he still directly owns 197,085.924 shares, including 3,992 restricted stock units that depend on future vesting, and there are 86,498 additional shares held by Burdick Family LLC, where he disclaims full beneficial ownership. The single open-market sale results in a net-sell of shares but leaves a meaningful ongoing position.
Insider Trade Summary
Net Seller: 80,000 shares ($5,164,000)
Net Sell
2 txns
Insider
Burdick Kenneth A
Role
null
Sold
80,000 shs ($5.16M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 80,000 | $64.55 | $5.16M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 197,085.924 shares (Direct, null);
Common Stock — 86,498 shares (Indirect, By Burdick Family LLC)
Footnotes (1)
- The weighted average price for this transaction is reported within the form. Shares were sold at prices ranging from $64.55 to $64.61. Full information regarding the number of shares at each price is available upon request. Ownership includes 3,992 shares of restricted stock units subject to vesting requirements. Owned by the Burdick Family LLC, of which Mr. Burdick is a chief manager. Mr. Burdick disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
Key Figures
Shares sold: 80,000 shares
Sale price per share: $64.55 per share
Direct holdings after sale: 197,085.924 shares
+3 more
6 metrics
Shares sold
80,000 shares
Open-market sale of Centene common stock
Sale price per share
$64.55 per share
Reported transaction price; trades ranged $64.55–$64.61
Direct holdings after sale
197,085.924 shares
Centene common stock directly owned post-transaction
Restricted stock units
3,992 RSUs
Included within direct ownership, subject to vesting
Indirect LLC holdings
86,498 shares
Held by Burdick Family LLC; Burdick disclaims full beneficial ownership
Net insider share change
-80,000 shares
Transaction summary net-buy/sell direction is net-sell
Key Terms
open-market sale, restricted stock units, beneficial ownership, pecuniary interest, +1 more
5 terms
open-market sale financial
"Sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
restricted stock units financial
"Ownership includes 3,992 shares of restricted stock units subject to vesting requirements."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
beneficial ownership financial
"Mr. Burdick disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein"
Section 16 regulatory
"for purposes of Section 16 of the Securities Exchange Act of 1934"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What insider transaction did Centene (CNC) director Kenneth Burdick report?
Kenneth A. Burdick reported an open-market sale of 80,000 Centene common shares at $64.55 per share. A footnote notes the weighted average reflects trades between $64.55 and $64.61, with full price-by-share details available on request from the reporting person.
What does the Form 4 say about Kenneth Burdick’s restricted stock units in Centene (CNC)?
The filing states that Burdick’s ownership includes 3,992 shares of Centene restricted stock units. These RSUs are subject to vesting requirements, meaning they convert into freely tradable shares only if specific service or performance conditions are satisfied over time.
Does Kenneth Burdick’s Centene (CNC) Form 4 indicate a net buy or net sell position?
The transaction summary reflects a net-sell position, with 80,000 Centene shares sold and no purchases reported. There were no derivative exercises, gifts, or tax-withholding transactions disclosed, and the filing shows only this open-market sale plus one indirect holding entry.