Medicare Advantage insurer and healthcare technology company Clover Health appointed its interim CFO, Clay Thornton, to serve in a permanent capacity, according to a Nov. 4 U.S. Securities and Exchange Commission filing.
Former CFO Peter Kuipers departed in March. According to a LinkedIn post, Mr. Thornton joined Clover in 2024, shaping finance in the MA business.
As CFO, Mr. Thornton will earn a base salary of $450,000 per year, the filing said. Mr. Thornton has a target annual cash bonus of up to 75% of his base salary, and he is also entitled to a promotional grant of restricted stock units worth $1.5 million, subject to approval.
Clover also named Joseph Oldakowski chief accounting officer. Mr. Oldakowski joined the company in 2025, serving as the vice president of finance and controller.
Mr. Oldakowski will earn a base salary of $410,000 per year and could receive a cash bonus of up to 50% of his eligible earnings. Pending approval, he could also get a promotional grant of RSUs worth $850,000.
Both appointments went into effect Nov. 4. Since the end of March, Mr. Thornton and Mr. Oldakowski have served as the principal financial and principal accounting officers, respectively. They will continue in those roles.
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