Form 4: Accolade CFO Stephen Barnes Reports Stock Transactions
SEC Form 4 Filing
Accolade's CFO, Stephen Barnes, reports the conversion of Restricted Stock Units (RSUs) and subsequent sale of shares to cover tax obligations.
Summary
- On August 1, 2024, Stephen Barnes, CFO of Accolade, Inc., converted 1,568 Restricted Stock Units (RSUs) into common stock.
- Following the conversion, Mr. Barnes sold 470 shares of common stock on August 2, 2024, at a price of $3.709 per share.
- The sale was executed to cover tax withholding obligations related to the vesting and settlement of the RSUs.
- After these transactions, Mr. Barnes beneficially owns 198,590 shares of Accolade common stock and 34,507 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with shareholder interests.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares, but the overall impact is likely minimal as it is related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| June 1, 2023 | Vesting Commencement Date for RSUs |
| June 27, 2023 | Date RSUs were granted |
| June 1, 2024 | First anniversary of Vesting Commencement Date; one-third of RSUs vest |
| August 1, 2024 | Conversion of 1,568 RSUs into common stock |
| August 2, 2024 | Sale of 470 shares at $3.709 per share |
| August 5, 2024 | Date of signature for the Form 4 filing |
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