Carson Michael A 4

What Happened

• Michael A. Carson, Group President, Medicare & Specialty at Centene, received an award of 47.935 derivative units (reported as an acquisition) on 2026-05-22. The units are reported at $57.77 each, for a total reported value of $2,769.
• This transaction reflects phantom-stock units (a deferred-compensation award), not an open-market purchase of Centene common stock. Phantom units represent a right to the fair market value of one share and are generally settled in cash or non‑company securities.

Key Details

• Transaction date and filing: transaction dated 2026-05-22; Form 4 filed 2026-05-26 (investors may want to confirm timeliness against the 2-business‑day reporting rule).
• Transaction type/code: A (award/acquisition) — derivative (phantom stock).
• Units and price: 47.935 units @ $57.77 each; total $2,769 (reported).
• Shares/units owned after transaction: filing notes Mr. Carson’s ownership includes 113,747 previously‑granted restricted stock units and performance stock units (reported at target performance).
• Footnotes: (1) Phantom stock = right to receive fair market value of one share; (2) these phantom units were acquired through regular payroll contributions to the company’s deferred compensation plan; (3) phantom stock has no formal expiration and will be settled in cash or other non‑company securities upon termination or at an elected date.

Context

• This is a derivative/compensation arrangement (deferred‑compensation phantom stock), not an outright equity purchase. Such awards are common for executive compensation and do not necessarily signal a buy or sell decision by the insider.
• The dollar value is small relative to typical executive stock transactions; treat this as routine compensation-related activity rather than a clear indicator of insider sentiment.