Form 4: Accolade Inc. Executive Cavanaugh Reports Stock Transactions
SEC Form 4 Filing
Robert N. Cavanaugh, President of Accolade, Inc., reports the acquisition and disposal of common stock and restricted stock units to cover tax obligations.
Summary
- On April 1, 2025, Robert N. Cavanaugh, President of Accolade, Inc., acquired 1,568 shares of common stock through the conversion of Restricted Stock Units (RSUs) at a price of $0.
- On April 2, 2025, Cavanaugh disposed of 550 shares of common stock at a price of $6.992 per share.
- These sales were to cover tax withholding obligations related to the vesting and settlement of RSUs and were not discretionary transactions.
- Following these transactions, Cavanaugh directly owns 222,216 shares of Accolade, Inc. common stock and 21,959 Restricted Stock Units.
- 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 subsequent monthly installments.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations, with no indication of unusual or concerning activity.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders, providing transparency into their trading activities. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice across all publicly traded companies in the US and are required by the SEC.
- The transactions reported are typical for executives who receive stock-based compensation and periodically sell shares to cover tax liabilities.
- Comparable companies such as Teladoc Health, Livongo (now part of Teladoc), and Amwell also have executives who regularly file Form 4s for similar transactions.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they are related to routine executive compensation and tax obligations.
- The filing provides transparency to shareholders regarding insider trading activities.
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; initial RSU vesting |
| April 1, 2025 | Conversion of RSUs to common stock |
| April 2, 2025 | Sale of common stock to cover tax obligations |
| April 3, 2025 | Date of Form 4 filing |
Keywords
Accolade Inc., Robert N. Cavanaugh, Form 4, Stock Transactions, Restricted Stock Units, Beneficial Ownership, Insider Trading
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