Matthew Malenfant - Mar 1, 2022 Form 4 Insider Report for COVETRUS, INC. (CVET)

Role: Chief Commercial Officer
Signature: /s/ Margaret B. Pritchard, as attorney-in-fact for Matthew Malenfant
Stock symbol: CVET
Transactions as of: Mar 1, 2022
Transactions value $: -$119,631
Form type: 4
Date filed: 3/3/2022, 03:10 PM
Previous filing: Sep 3, 2021
Next filing: May 20, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CVET	Common Stock	Options Exercise	$0	+6.47K	+20.79%	$0.00	37.6K	Mar 1, 2022	Direct	F1
transaction	CVET	Common Stock	Award	$0	+17.5K	+46.55%	$0.00	55.1K	Mar 1, 2022	Direct	F2, F3
transaction	CVET	Common Stock	Tax liability	-$120K	-6.7K	-12.16%	$17.85	48.4K	Mar 1, 2022	Direct	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CVET	Restricted Stock Units	Options Exercise	$0	-6.47K	-33%	$0.00	13.1K	Mar 1, 2022	Common Stock	6.47K		Direct	F1, F5
transaction	CVET	Restricted Stock Units	Award	$0	+42.5K		$0.00	42.5K	Mar 1, 2022	Common Stock	42.5K		Direct	F1, F5
transaction	CVET	Restricted Stock Units	Award	$0	+73.6K		$0.00	73.6K	Mar 1, 2022	Common Stock	73.6K		Direct	F1, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock or the cash value thereof.
F2	These shares represent common stock acquired on March 1, 2022 upon settlement of a Performance Share Unit award granted on March 1, 2021 for the performance period ended December 31, 2021.
F3	Each Performance Share Unit ("PSU") represents a contingent right to receive one share of common stock upon vesting based on the attainment of performance goals.
F4	Represents 1,779 shares and 4,923 shares withheld by the Issuer to satisfy tax withholding obligation upon the vesting of the RSUs and PSUs, respectively.
F5	Subject to the Reporting Person's continuous service as an employee of the Issuer, the RSUs will vest 33% at the one-year anniversary of the grant date, then in equal ratable quarterly increments for the subsequent eight quarters.
F6	Subject to the Reporting Person's continuous service as an employee of the Issuer, the RSUs will vest 25% every six months in equal ratable increments.