Centene (CNC) Director Burdick Reports 852‑Share Acquisition and 10,000‑Share Option

Rhea-AI Filing Summary

Kenneth A. Burdick, a director of Centene Corp (CNC), reported an acquisition and existing holdings. On 09/30/2025 he was credited with 852 shares of Common Stock at a price of $0, bringing his reported total direct beneficial ownership to 338,371.924 shares (this total includes 3,579 restricted stock units subject to vesting). The filing also discloses 86,498 shares held indirectly by Burdick Family LLC, of which he is a chief manager and for which he disclaims beneficial ownership except to the extent of pecuniary interest. Separately, the report shows a 10,000-share option exercisable from 02/07/2025 through 02/07/2032 with a strike of $80.57.

Positive

• Acquisition of 852 shares at $0 reported on 09/30/2025, indicating vested awards or compensation settlement
• Total direct beneficial ownership reported as 338,371.924 shares, including 3,579 restricted stock units
• Indirect holdings of 86,498 shares disclosed via Burdick Family LLC with appropriate disclaimer
• Clear disclosure of a 10,000-share option exercisable 02/07/2025–02/07/2032 at a $80.57 strike

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director stock award and standing option holdings; no atypical governance concerns disclosed.

The Form 4 documents a non‑derivative acquisition of 852 common shares at no cash cost, consistent with restricted stock unit vesting or director compensation settlement. The report clarifies indirect holdings via Burdick Family LLC and includes customary disclaimer language about pecuniary interest. The presence of an outstanding option (10,000 shares at $80.57 exercisable through 2032) is standard for longer‑dated equity incentives. Overall, disclosures are complete for Section 16 purposes and present no governance red flags within the filing itself.

Securities Analyst

TL;DR: Insider ownership increased slightly through vested awards; option exposure remains limited relative to total reported position.

Key numeric details are: 852 shares acquired (price $0), total direct beneficial ownership of 338,371.924 shares (including 3,579 RSUs), 86,498 shares held indirectly by Burdick Family LLC, and a 10,000‑share option with a $80.57 exercise price expiring 02/07/2032. These items are routine disclosures under Section 16 and allow investors to track insider position changes precisely. The filing contains explicit disclaimers and provides exercise and expiration dates for derivative holdings, supporting transparent monitoring of potential future dilutive events.

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).

1. Name and Address of Reporting Person^*

Burdick Kenneth A

(Last) (First) (Middle)

7700 FORSYTH BOULEVARD

(Street)

ST. LOUIS MO 63105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CENTENE CORP [ CNC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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
Common Stock	09/30/2025		A		852	A	$0	338,371.924(1)	D
Common Stock								86,498	I	By Burdick Family LLC(2)

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
Common Stock Option (right to buy)	$80.57							02/07/2025	02/07/2032	Common Stock	10,000		10,000	D

Explanation of Responses:

1. Ownership includes 3,579 shares of restricted stock units subject to vesting requirements.

2. 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.

Remarks:

	/s/ Christopher A. Koster (executed by attorney-in-fact)	10/01/2025
	** 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

What transaction did Kenneth A. Burdick report on Form 4 for CNC?

The filing reports an acquisition of 852 shares of Centene common stock on 09/30/2025 at a price of $0.

How many Centene shares does Kenneth A. Burdick beneficially own after the reported transaction?

The report states 338,371.924 shares of direct beneficial ownership, which includes 3,579 restricted stock units.

Does Kenneth Burdick hold any Centene shares indirectly?

Yes. The filing discloses 86,498 shares held by Burdick Family LLC, of which he is a chief manager and for which he disclaims beneficial ownership except to the extent of pecuniary interest.

Are there any derivative securities disclosed for Kenneth Burdick?

Yes. A 10,000-share option with an exercise price of $80.57 exercisable from 02/07/2025 and expiring 02/07/2032 is reported.

Was the Form 4 filed jointly or by a single reporting person?

The form indicates it was filed by one reporting person.