Clover Health (CLOV) CEO has 60,765 shares withheld for RSU tax on vesting
Rhea-AI Filing Summary
Clover Health Investments CEO Andrew Toy reported a routine tax-related share disposition. On April 15, 2026, 60,765 shares of Class A Common Stock were automatically withheld at $2.04 per share to cover tax obligations from RSU vesting. After this withholding, Toy directly owned 10,009,005 shares.
The withheld shares relate to 6.25% of an RSU grant originally awarded on October 15, 2024. The remaining RSUs are scheduled to vest in equal 6.25% quarterly installments through October 15, 2028, contingent on Toy’s continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 60,765 shares
Net Sell
1 txn
Insider
Toy Andrew
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Class A Common Stock | 60,765 | $2.04 | $124K |
Holdings After Transaction:
Class A Common Stock — 10,009,005 shares (Direct)
Footnotes (1)
- F1. Represents shares of Class A Common Stock that were automatically withheld to cover tax obligations on April 15, 2026, due to the vesting of 6.25% of the original number of restricted stock units (RSUs) granted to the Reporting Person on October 15, 2024, and timely reported on a Form 4 filed on October 17, 2024. The remaining RSUs vest quarterly in equal installments of 6.25%, with the final vesting date occurring on October 15, 2028, subject to the continued service of the Reporting Person on each such vesting date.
Key Figures
Shares withheld for taxes: 60,765 shares
Withholding price per share: $2.04 per share
Shares owned after transaction: 10,009,005 shares
+2 more
5 metrics
Shares withheld for taxes
60,765 shares
Automatic tax-withholding disposition on April 15, 2026
Withholding price per share
$2.04 per share
Value used for tax-withholding shares on April 15, 2026
Shares owned after transaction
10,009,005 shares
Direct Class A holdings following the tax-withholding event
RSU vesting tranche
6.25% of original grant
Portion of RSUs vesting on April 15, 2026
Final RSU vesting date
October 15, 2028
Scheduled end of quarterly 6.25% RSU vesting
Key Terms
restricted stock units, tax obligations, vesting, Form 4, +1 more
5 terms
restricted stock units financial
"original number of restricted stock units (RSUs) granted to the Reporting Person"
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.
tax obligations financial
"automatically withheld to cover tax obligations on April 15, 2026"
vesting financial
"due to the vesting of 6.25% of the original number of restricted stock units"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
Form 4 regulatory
"timely reported on a Form 4 filed on October 17, 2024"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
Class A Common Stock financial
"Represents shares of Class A Common Stock that were automatically withheld"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did CLOV CEO Andrew Toy report in this Form 4 filing?
Andrew Toy reported automatic withholding of 60,765 Clover Health shares to cover taxes on RSU vesting. This was not an open-market sale but a tax-withholding disposition tied to previously granted restricted stock units.
How will Andrew Toy’s RSUs in Clover Health (CLOV) vest over time?
The remaining RSUs vest quarterly in equal 6.25% installments until October 15, 2028. Each vesting date is conditioned on Andrew Toy’s continued service, and future vestings may similarly involve automatic tax-withholding of shares.