Form 4: Accolade CEO Rajeev Singh Reports Stock Transactions
SEC Form 4 Filing
Accolade's CEO, Rajeev Singh, reports the conversion of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- Rajeev Singh, CEO of Accolade, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On June 11, 2024, 45,430 restricted stock units (RSUs) converted into common stock.
- On June 12, 2024, Singh sold 18,617 shares of common stock at a price of $6.615 per share.
- The sale was to cover tax withholding obligations related to the vesting and settlement of the RSUs.
- Following these transactions, Singh directly owns 776,649 shares of Accolade common stock.
- Singh also indirectly owns 651,619 shares through Avanti Holdings, LLC.
Sentiment
Score: 5
Explanation: The document is a routine filing of stock transactions, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased number of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 06/01/2023 | Vesting Commencement Date for RSUs |
| 06/27/2023 | Date RSUs were granted |
| 06/11/2024 | Conversion of Restricted Stock Units to Common Stock |
| 06/12/2024 | Sale of Common Stock |
| 06/13/2024 | Date of filing |
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