Form 4: Accolade CEO Rajeev Singh Reports Stock Transactions
SEC Form 4 Filing
Accolade's CEO, Rajeev Singh, reports the conversion and sale of common stock to cover tax obligations related to vested Restricted Stock Units (RSUs).
Summary
- On October 1, 2024, Rajeev Singh, CEO of Accolade, Inc., converted 3,786 Restricted Stock Units (RSUs) into common stock.
- On October 2, 2024, Singh sold 1,540 shares of common stock at a price of $3.704 per share.
- These sales were to cover tax withholding obligations associated with the vesting and settlement of the RSUs and were not discretionary transactions.
- Following these transactions, Singh directly owns 790,815 shares of Accolade common stock and indirectly owns 651,619 shares through Avanti Holdings, LLC.
- The RSUs were granted on June 27, 2023, and vest in installments, with a portion vesting on the first anniversary of the Vesting Commencement Date (June 1, 2024) and the remainder vesting monthly thereafter.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to investors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares, but it is primarily related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| June 1, 2023 | Vesting Commencement Date for RSUs |
| June 27, 2023 | Date RSUs were granted |
| October 1, 2024 | Conversion of RSUs to common stock |
| October 2, 2024 | Sale of common stock to cover tax obligations |
| October 3, 2024 | Date of signature for the Form 4 filing |
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