Form 4: Accolade Director Cindy Kent Disposes of Shares Through RSU Conversion
SEC Form 4 Filing
Director Cindy Kent of Accolade, Inc. disposed of 1,406 shares of common stock through the conversion of restricted stock units (RSUs) on January 30, 2025.
Summary
- Cindy Kent, a director at Accolade, Inc., converted 1,406 restricted stock units (RSUs) into common stock on January 30, 2025.
- The RSUs vested on July 25, 2023, but the distribution was deferred until January 30, 2025, or the earlier of her separation from service.
- The shares will be distributed in equal annual installments over 10 years starting January 30, 2025.
- Following the transaction, Ms. Kent directly owns 10,602 shares and indirectly owns 1,360 shares through the Cindy R. Smith Kent Legacy Trust.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation, which is neither particularly positive nor negative. The sentiment is neutral to slightly positive as it indicates the director is receiving their vested compensation.
Future Outlook
The shares from the converted RSUs will be distributed in equal annual installments over 10 years starting January 30, 2025.
Industry Context
This is a standard SEC Form 4 filing, reflecting a common practice of stock-based compensation for directors and executives.
Comparison to Industry Standards
- The vesting and distribution schedule of the RSUs is typical for executive compensation packages.
- Many companies use RSUs as a way to align the interests of directors and executives with those of shareholders.
- The deferral of distribution until a specific date or separation from service is a common practice to encourage long-term commitment.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it represents a small change in the ownership structure.
- The distribution of shares over 10 years may have a slight dilutive effect over time.
Key Dates
| Date | Description |
|---|---|
| 07/25/2023 | The date the restricted stock units vested. |
| 01/30/2025 | The date of the RSU conversion and the start of the 10 year distribution of shares. |
| 02/03/2025 | The date the Form 4 was signed. |
Keywords
Accolade, Director, Cindy Kent, Restricted Stock Units, RSU, Share Conversion, Beneficial Ownership, Form 4
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