The cluster is dominated by Conrad Wai's $1.42M sale — as CEO of Counterpart Health (CLOV's value-based care subsidiary), his exit is the most concerning. Monitor for any upcoming 8-K or earnings release that might explain the coordinated selling. The lack of 10b5-1 plans suggests these were discretionary sales, not pre-planned.
Price Chart
Executive Summary
Four CLOV insiders, including two CEOs (Reynoso and Wai) and the Chief Legal Officer, sold a total of ~$1.51M in open-market sales over two days. The largest sale was by Counterpart Health CEO Conrad Wai ($1.42M), representing ~94% of the cluster's value. This is a material cluster of open-market selling with no disclosed 10b5-1 plans, suggesting insiders are monetizing equity ahead of potential headwinds.
Key Financial Metrics
Key Facts
- Total insider sales: ~$1.51M across 4 insiders in a 2-day window (Sep 14-15, 2026)
- Largest seller: Conrad Wai (CEO, Counterpart Health) sold 300,000 shares at $4.72 for $1.42M
- CEO Jamie Reynoso sold 9,273 shares at $4.78 for $44K
- Chief Legal Officer Karen Soares sold 6,846 shares at $4.78 for $33K
- VP of Finance Joseph Oldakowski sold 20,000 shares at $5.16 for $103K on Sep 14
- No 10b5-1 trading plan indicated for any of the sales
- Sales represent approximately 0.46% of CLOV's ~$326M market cap
Financial Impact
Insider sales of $1.51M represent ~0.46% of market cap, a modest but notable signal given the concentration in C-suite sellers
Risk Factors
- Insiders may be reacting to upcoming negative news or deteriorating fundamentals
- Conrad Wai's large sale could signal issues at Counterpart Health, a key growth segment
- No insider buying to offset the selling — one-sided bearish signal
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-CLOV-1789680596977 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | Insider Cluster | $4.78 $4.73 | ▲ +1.05% | ▼ −0.13% | $4.63 (+3.14%) |
Oct 19, 2026 8d ago | 144 | $4.80 $4.78 | ▼ −0.42% | ▼ −0.94% | $4.63 (−3.54%) |
Oct 19, 2026 8d ago | Insider Cluster | $4.80 $4.78 | ▼ −0.42% | ▼ −0.94% | $4.63 (−3.54%) |
Oct 8, 2026 19d ago | 8-K | $4.79 $4.78 | ▼ −0.21% | ▼ −0.15% | $4.63 (−3.34%) |
Oct 7, 2026 20d ago | 144 | $4.58 $4.79 | ▲ +4.59% | ▲ +3.99% | $4.63 (+1.09%) |
Oct 5, 2026 22d ago | Insider Cluster | $4.60 $4.56 | ▲ +0.87% | ▲ +0.63% | $4.63 (−0.65%) |
Oct 1, 2026 26d ago | 3 | $4.38 $4.68 | ▲ +6.85% | ▲ +6.17% | $4.63 (+5.71%) |
Sep 24, 2026 4w ago | 8-K | $4.49 $4.33 | ▼ −3.56% | ▼ −2.82% | $4.63 (+3.12%) |
Sep 18, 2026 5w ago | Insider Cluster | $4.54 $4.67 | ▼ −2.86% | ▼ −2.88% | $4.63 (−1.98%) |
Sep 17, 2026 5w ago | Insider Cluster | $4.46 $4.54 | ▼ −1.79% | ▼ −0.24% | $4.63 (−3.81%) |
US Market Status
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