Statement of Changes in Beneficial Ownership (4)
2020年1月23日 - 6:03AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Burdick Kenneth A |
2. Issuer Name and Ticker or Trading Symbol
WELLCARE HEALTH PLANS, INC.
[
WCG
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer |
(Last)
(First)
(Middle)
C/O WELLCARE HEALTH PLANS, INC., 8735 HENDERSON ROAD |
3. Date of Earliest Transaction
(MM/DD/YYYY)
1/17/2020 |
(Street)
TAMPA, FL 33634
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 1/17/2020 | | A(1) | | 59616 | A | $0 | 227022 | D | |
Common Stock | 1/17/2020 | | A(2) | | 37674 | A | $0 | 264696 | D | |
Common Stock | 1/17/2020 | | M(3) | | 4240 | A | $0 | 268936 | D | |
Common Stock | 1/17/2020 | | M(4) | | 7355 | A | $0 | 276291 | D | |
Common Stock | 1/17/2020 | | F(5) | | 28647 | D | $338.83 | 247644 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (6) | 1/17/2020 | | M | | | 4240 | (7) | (7) | Common Stock | 4240 | $0 | 0 | D | |
Restricted Stock Units | (6) | 1/17/2020 | | M | | | 7355 | (7) | (7) | Common Stock | 7355 | $0 | 0 | D | |
Explanation of Responses: |
(1) | Relates to performance stock unit ("PSU") awards granted to the Reporting Person on 3/19/18. The Compensation Committee certified PSU awards would vest and settle based on a net income margin goal achieved at 200% of target, or 22,064 shares. The Compensation Committee certified the PSU awards would vest and settle based on a relative total shareholder return goal achieved at 178% of target, or 19,747 shares. The Compensation Committee certified the PSU awards would vest and settle based on a quality improvement goal achieved at 179% of target, or 19,747 shares. Vesting and settlement of the PSUs were accelerated to 1/17/20 to effect treatment contemplated by the Agreement and Plan of Merger by and between Centene Corporation, WellCare Health Plans, Inc., and other parties thereto, filed on Form 8-K on March 27, 2019 (the "Merger Agreement"). |
(2) | Relates to PSU awards granted to the Reporting Person on 3/13/19. The Compensation Committee certified PSU awards would vest and settle based on an earnings per share goal achieved at 100% of target, or 10,739 shares. The Compensation Committee certified the PSU awards would vest and settle based on a relative total shareholder return goal achieved at 200% of target, or 16,196 shares. The Compensation Committee certified the PSU awards would vest and settle based on a quality improvement goal achieved at 100% of target, or 10,739 shares. Vesting was accelerated to 1/17/20 to effect treatment contemplated by the Merger Agreement, but delivery of these shares has been deferred. |
(3) | Vesting of restricted stock units granted to the Reporting Person on 3/22/17 for which vesting and settlement were accelerated to 1/17/20 to effect treatment contemplated by the Merger Agreement. |
(4) | Vesting of restricted stock units granted to the Reporting Person on 3/19/18 for which vesting and settlement were accelerated to 1/17/20 to effect treatment contemplated by the Merger Agreement. |
(5) | Forfeiture of shares to satisfy tax obligations related to restricted stock units for which vesting and settlement were accelerated to 1/17/20 to effect treatment contemplated by the Merger Agreement. |
(6) | Each restricted stock unit represents a contingent right to receive one share of WCG common stock. |
(7) | Vesting and settlement of the restricted stock units were accelerated to 1/17/20 to effect treatment contemplated by the Merger Agreement. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Burdick Kenneth A C/O WELLCARE HEALTH PLANS, INC. 8735 HENDERSON ROAD TAMPA, FL 33634 | X |
| Chief Executive Officer |
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Signatures
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/s/ Michael W. Haber, Attorney-in-fact | | 1/22/2020 |
**Signature of Reporting Person | Date |
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