Form 4: Accolade Inc. President Reports Stock Transactions
SEC Form 4 Filing
Robert N. Cavanaugh, President of Accolade, Inc., reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On March 3, 2025, Robert N. Cavanaugh, President of Accolade, Inc., had 1,569 Restricted Stock Units (RSUs) convert into common stock.
- Following the conversion, Mr. Cavanaugh sold 550 shares of common stock on March 4, 2025, at a price of $6.96 per share.
- The sale was to cover tax withholding obligations related to the vesting of the RSUs and was not a discretionary transaction.
- After these transactions, Mr. Cavanaugh beneficially owns 217,908 shares of Accolade, Inc. common stock and 23,527 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, ensuring transparency and compliance with securities regulations.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to insider stock activity and 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 |
| March 3, 2025 | RSUs converted into common stock |
| March 4, 2025 | Shares sold to cover tax obligations |
| March 5, 2025 | Date of signature for the Form 4 filing |
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