Form 4: American Well Corp CFO Robert Shepardson Sells Shares to Cover Tax Obligations

Robert Shepardson, CFO of American Well Corp, sold shares of Class A Common Stock on March 1, 2024, to cover tax liabilities arising from the vesting and settlement of restricted stock units.

Summary

• Robert Shepardson, the Chief Financial Officer of American Well Corp [AMWL], reported a transaction on March 1, 2024.
• Shepardson sold 68,303 shares of Class A Common Stock at a price of $1.0714 per share.
• The sale was executed to cover the tax liability resulting from the vesting and settlement of restricted stock units.
• Following the transaction, Shepardson beneficially owns 2,776,845 shares of Class A Common Stock directly.

Sentiment

Score: 5

Explanation: The document is a routine Form 4 filing related to stock sales for tax purposes, which is neutral in sentiment.

Management Comments

• The sales reported in this Form 4 were made in order to pay the tax liability arising from the vesting and settlement of restricted stock units on March 1, 2024.
• The sales were effected through and automatic 'sell to cover' transaction that did not represent a discretionary trade by the reporting person.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The impact on the stock price is usually minimal unless the sale is substantial or indicative of a negative outlook.

Key Dates