Form 4: Accolade CEO Rajeev Singh Executes Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Accolade's CEO, Rajeev Singh, acquired and disposed of company stock and restricted stock units (RSUs) following vesting, including a sale to cover tax obligations.
Summary
- Rajeev Singh, CEO of Accolade, Inc., engaged in multiple transactions involving the company's stock on December 2nd and 3rd, 2024.
- These transactions included the acquisition of 3,786 shares and 27,778 shares of common stock through the vesting of Restricted Stock Units (RSUs).
- Following the vesting, 13,357 shares were sold at a price of $3.595 per share to cover tax withholding obligations.
- After these transactions, Mr. Singh directly owns 814,316 shares and indirectly owns 651,619 shares through Avanti Holdings, LLC.
- The RSUs were granted on June 27, 2023, with a vesting commencement date of June 1, 2023, and vest over time, with some vesting on the first anniversary and the remainder monthly.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and does not indicate any positive or negative sentiment. It is a standard regulatory filing.
Industry Context
This is a routine filing related to executive compensation and stock ownership, common in publicly traded companies. The transactions are related to the vesting of previously granted equity awards.
Comparison to Industry Standards
- The vesting schedule of the RSUs, with a portion vesting on the first anniversary and the remainder monthly, is a common practice in the technology industry for executive compensation.
- The sale of shares to cover tax obligations is a standard procedure for RSU vesting, and the price of $3.595 per share is the market price at the time of the transaction.
- Similar transactions are regularly reported by executives at other publicly traded companies such as Teladoc Health, Livongo, and Oak Street Health.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the vesting of previously granted equity awards and a small sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2023-06-01 | Vesting commencement date for the restricted stock units. |
| 2023-06-27 | Date the restricted stock units were granted. |
| 2024-12-02 | Date of RSU vesting and acquisition of shares, and sale of shares to cover tax obligations. |
| 2024-12-03 | Date of sale of shares to cover tax obligations. |
| 2024-12-04 | Date the Form 4 was signed. |
Keywords
Accolade, Rajeev Singh, stock transactions, RSU, restricted stock units, insider trading, Form 4, executive compensation, share ownership
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.