Clover Health Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
March 15 2022 - 4:05PM
Clover Health (Nasdaq: CLOV) (“Clover” or the “Company”), a
physician enablement company committed to improving health equity
for seniors, today announced that on March 14, 2022, the Talent and
Compensation Committee of the Company’s Board of Directors granted
inducement restricted stock unit awards to Conrad Wai, who joined
the Company as Chief Technology Officer on February 28, 2022, and
to Joseph Martin, who joined the Company as General Counsel on
March 14, 2022. The restricted stock unit awards were granted under
the Company’s 2022 Inducement Award Plan (the “Inducement Plan”)
and otherwise will be subject to the terms and conditions of
restricted stock unit award agreements under the Inducement Plan.
Both Mr. Wai and Mr. Martin received a restricted stock unit
award covering 3,100,775 shares of the Company's Class A common
stock that will vest over four years, with 25% vesting on the first
anniversary of March 14, 2022, and the remainder vesting in equal
quarterly installments over the subsequent three years, subject to
continued service at each vesting date.
The restricted stock unit awards were granted as inducements
material to Mr. Wai and Mr. Martin entering into employment with
Clover in accordance with NASDAQ Listing Rule 5635(c)(4).
About Clover Health:Clover Health (Nasdaq:
CLOV) is a physician enablement company focused on seniors who have
historically lacked access to affordable, high-quality healthcare.
Our strategy is underpinned by our proprietary software platform,
the Clover Assistant, which is designed to aggregate patient data
from across the health ecosystem to support clinical
decision-making and improve health outcomes. We operate two
distinct lines of business: affordable Medicare Advantage plans
with extensive benefits; and the infrastructure for physicians to
participate in value-based care. Clover’s corporate headquarters
are in Franklin, Tenn.
Visit: www.cloverhealth.comRead about our Health Equity
strategy: www.cloverhealth.com/healthequity Learn about the Clover
Assistant: www.cloverassistant.com
Contacts:Investor Relations:Derrick
Nuemaninvestors@cloverhealth.com
Press Contact:Andrew Still-Baxter, press@cloverhealth.com
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