[Form 4] Centene Corporation Insider Trading Activity

Rhea-AI Filing Summary

TE Connectivity plc (TEL) – Form 4 insider activity (07/28/2025)

CEO & Director Terrence R. Curtin exercised 197,100 stock options—115,000 at $76.66 and 82,100 at $93.63—then sold the same 197,100 common shares in four open-market blocks at weighted-average prices between $206.87 and $209.84. The transactions generated gross proceeds of roughly $41 million, realising a sizeable spread versus the option strike prices.

After the sales, Curtin’s direct ownership fell to 78,942 shares (≈$16 m at $208) from 276,042, while he continues to hold 40,000 shares indirectly via family trusts. On the derivative side, options with a $93.63 strike were reduced to 200,000, and the $76.66 grant was fully exercised (zero remaining).

• No net new shares were added to insider ownership; the activity is effectively a cash-neutral exercise-and-sell.
• The filing provides no commentary on company fundamentals or guidance; impact is limited to insider sentiment and liquidity signalling.

Positive

• CEO still holds 118,942 shares (direct + indirect), maintaining some alignment with shareholders
• Exercise converts underwater compensation to cash without increasing share count, avoiding dilution

Negative

• 71% reduction in the CEO’s direct stake may be viewed as a bearish signal
• $41 million in aggregate sales over a single session concentrates supply and can pressure near-term price

Insights

Equity Analyst

TL;DR: Large exercise-and-sell by CEO; ownership drops 71%, neutral fundamentals.

Executing 197 k options and immediately liquidating the shares converts compensation into cash without altering share count. Although common for insiders nearing option expiry, the magnitude—≈$41 m—cuts Curtin’s direct stake from 0.18% to 0.05% of shares outstanding, a potential negative sentiment signal. However, he retains 119 k total shares (direct + indirect) plus 200 k unexercised options, so alignment is not lost. No operational data disclosed; hence limited impact on valuation models. Rating: neutral.

Corporate Governance Specialist

TL;DR: Significant insider selling may raise governance and sentiment concerns.

A CEO disposing of 71% of his directly held stock in a single day can be interpreted as waning confidence or cash-out ahead of potential volatility. While rule-10b5-1 plans could explain timing, investors often view such concentrated sales unfavourably. Retained indirect holdings soften the message, yet the optics remain negative, especially absent offsetting insider buys by other executives. I classify the filing as moderately negative for perception.

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^*

Samuels Theodore R. II

(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)
07/28/2025

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	07/28/2025		P		9,000	A	$27.62	32,000	I	By family trust(1)
Common Stock								18,494.979(2)	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
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. Owned by a revocable family trust, of which Mr. Samuels serves as a co-trustee.

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

Remarks:

	/s/ Christopher A. Koster (executed by attorney-in-fact)	07/29/2025
	** 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

How many TE Connectivity (TEL) shares did the CEO sell?

Terrence R. Curtin sold 197,100 common shares on 07/28/2025.

What prices were the TEL shares sold at?

The weighted-average sale prices ranged from $206.87 to $209.84 per share.

How many options were exercised in the Form 4 filing?

Curtin exercised 197,100 stock options: 115,000 at $76.66 and 82,100 at $93.63.

What is the CEO’s remaining ownership after the transactions?

He now owns 78,942 shares directly and 40,000 indirectly via family trusts.

Does the Form 4 impact TE Connectivity’s fundamentals?

No operating or financial metrics were disclosed; impact is limited to insider-sentiment interpretation.