Insider Trading March 18, 2026

Clover Health Medicare Advantage Head Sells $11,141 in Class A Shares

Jamie L. Reynoso executed a Rule 10b5-1 sale; Clover posts Q4 2025 revenue beat and advances data-sharing capabilities

By Jordan Park CLOV
Clover Health Medicare Advantage Head Sells $11,141 in Class A Shares
CLOV

Jamie L. Reynoso, chief executive of Medicare Advantage at Clover Health Investments Corp. (CLOV), sold 5,833 Class A shares on March 18, 2026, for roughly $11,141 under a previously established Rule 10b5-1 trading plan. The firm also reported fourth-quarter 2025 revenue above expectations and disclosed a technical integration with CMS Aligned Network and TEFCA to enable standardized, patient-directed data exchange.

Key Points

  • Jamie L. Reynoso sold 5,833 Class A shares on March 18, 2026, for approximately $11,141 at prices between $1.87 and $1.96 under a Rule 10b5-1 plan adopted March 13, 2025.
  • After the sale, Reynoso directly owns 2,716,735 shares of Clover Health Investments, CORP.
  • Clover Health reported Q4 2025 revenue of $487.2 million, exceeding expectations by 4.31%, with EPS at -$0.1 in line with forecasts, and announced integration with CMS Aligned Network and TEFCA via a Kno2 collaboration to enable standardized FHIR-based data exchange.

Insider transaction

Jamie L. Reynoso, who serves as CEO of Medicare Advantage at Clover Health Investments, CORP. (NASDAQ:CLOV), disposed of 5,833 shares of the company’s Class A Common Stock on March 18, 2026. The aggregate proceeds from the sale amounted to approximately $11,141, with execution prices for the individual trades ranging between $1.87 and $1.96 per share. The disposition was carried out under a Rule 10b5-1 trading plan that Reynoso adopted on March 13, 2025.

Following the transaction, Reynoso retains direct ownership of 2,716,735 shares of Clover Health Investments, CORP.


Quarterly results and operational update

Clover Health reported fourth-quarter 2025 revenue of $487.2 million, a figure that the company says exceeded expectations by 4.31%. The company’s earnings per share for the quarter were reported at negative $0.1, a result described as in line with forecasts.

Separately, Clover Health announced that it has become the first health insurance payer to operate on a CMS Aligned Network and TEFCA. The company said this capability, implemented in collaboration with Kno2, allows Clover Health to respond to patient-directed requests for clinical and claims data using standardized FHIR formats. Clover also published a supplemental Q&A document intended to provide additional context for shareholders about its earnings announcement; that document is available on the investor relations section of Clover Health’s website.


Contextual notes

The sale by Reynoso was transacted under an existing 10b5-1 plan. The amounts, dates, and ownership levels reported above are as stated by the company. The company’s financial results and the new data-sharing capability are specific disclosures included in Clover Health’s recent communications to investors.


Where additional information is available

Investors seeking more detailed financial analysis and model-based insights can refer to platforms and resources that track CLOV’s financials and provide supplementary research tools. The supplemental Q&A referenced by the company is posted on Clover Health’s investor relations web pages.

Risks

  • The company reported a negative EPS of -$0.1 for Q4 2025, indicating ongoing losses for the period reported - this is a financial metric relevant to investors and the broader healthcare and insurance sectors.
  • An insider sale occurred under an existing 10b5-1 plan; while the transaction was prearranged, insider transactions can be viewed as an uncertainty by market participants in the insurance and healthcare equity markets.
  • The operational impact and financial implications of the CMS Aligned Network and TEFCA integration with Kno2 are disclosed but not quantified in the company release - the ultimate effect on clinical data workflows and reimbursement-related outcomes remains to be seen, affecting healthcare IT and payer operations.

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