{"schema_version":"secwatch.filing_event.v1","accession":"0001801170-23-000021","form_type":"8-K","ticker":"CLOV","cik":"0001801170","company_name":"CLOVER HEALTH INVESTMENTS, CORP. /DE","filed_at":"2023-04-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.654804+00:00","generated_at":"2026-06-16T22:41:02.779975+00:00","sec_items":["2.05","8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Clover Health to cut 10% of workforce, move operations to UST HealthProof; expects $30M annual savings","bullets":["Partnership with UST HealthProof to handle core Medicare Advantage operations (claims, enrollment, contact center) through 2028.","Reduction in force eliminates ~10% of workforce; expects $7-9M in restructuring charges in 1H2023.","Net annual cost savings of ~$30M expected beginning in 2024 from the transformation initiatives.","Master Services Agreement with UST HealthProof includes fixed monthly per-member fees; renewable after initial term.","Company reaffirms focus on profitability and disciplined growth in core Medicare Advantage markets."],"urls":{"canonical":"https://secwatch.observer/filing/0001801170-23-000021","json":"https://secwatch.observer/filing/0001801170-23-000021.json","markdown":"https://secwatch.observer/filing/0001801170-23-000021.md","text":"https://secwatch.observer/filing/0001801170-23-000021.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1801170/000180117023000021/0001801170-23-000021-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1801170/000180117023000021/clov-20230416.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T22:41:02.779975+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"27e2b258b49a6b1e0aefa6fbc4962270bda00ca7","claim":"CLOVER HEALTH INVESTMENTS, CORP. /DE announced a restructuring with charges of approximately $7.0 to $9.0 million affecting core plan operations and corporate restructuring (approximately 10% of the Company’s workforce).","evidence_excerpt":"resulted in the elimination of approximately 10% of the Company’s workforce. The Company expects to record total charges related to the initiatives of approximately $7.0 to $9.0 million, primarily all of which will result in future cash expenditures. These charges are expected to be recorded in the first and second quarters of 2023, and to","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1801170/000180117023000021/0001801170-23-000021-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $7.0 to $9.0 million"},{"label":"Affected area","value":"core plan operations and corporate restructuring"},{"label":"Headcount","value":"approximately 10% of the Company’s workforce"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}