Form 4: Accolade CFO Stephen Barnes Reports Stock Transactions
SEC Form 4 Filing
Accolade's CFO, Stephen Barnes, reports the acquisition and disposal of company stock, including transactions related to restricted stock units and tax obligations.
Summary
- On September 10, 2024, Stephen Barnes, CFO of Accolade, Inc., acquired 770 shares of common stock through the conversion of Restricted Stock Units (RSUs).
- Following this transaction, Barnes directly owns 201,322 shares of Accolade common stock.
- On September 11, 2024, Barnes disposed of 225 shares at a price of $3.911 per share.
- This sale was to cover tax withholding obligations related to the vesting and settlement of RSUs and was executed as a 'mandatory sell to cover' transaction.
- After the sale, Barnes directly owns 201,097 shares of Accolade common stock.
- Barnes also holds 6,931 Restricted Stock Units (RSUs), each representing a contingent right to receive one share of Accolade's Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities in the company's stock. It's common for executives to receive stock-based compensation and periodically sell shares to cover tax obligations or for personal financial planning.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine stock sales for tax purposes and do not indicate a change in the executive's long-term commitment to the company.
Key Dates
| Date | Description |
|---|---|
| June 10, 2022 | June 2022 RSU Vesting Commencement Date |
| 09/10/2024 | Date of RSU conversion to common stock (770 shares) |
| 09/11/2024 | Date of common stock sale (225 shares at $3.911) |
| 09/12/2024 | Date of Form 4 signature |
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