Clover Health CEO Sells Shares for Tax Withholding; More Sales Expected
On July 15, 2026, Clover Health's CEO Andrew Toy sold 62,711 shares of Class A Common Stock to cover tax obligations from the vesting of restricted stock units (RSUs). The transaction was non-discretionary and part of a scheduled RSU grant that began in October 2024. After this sale, Toy retained approximately 9.5 million shares valued at $44.68 million as of July 15 market close. The remaining portion of the RSUs is set to vest quarterly through October 2028, with similar automated sell-to-cover transactions expected in the future if Toy remains employed. Clover Health operates Medicare Advantage plans using its proprietary software platform and reported $2.2 billion in trailing twelve-month revenue but also a net loss of $56.9 million. The company's market capitalization stands at $2.4 billion, with shares trading around $4.68 as of July 15.
Topics: executive sale RSUs vesting SEC filing