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

Robert Shepardson, CFO of American Well Corp, sold 876 shares of Class A Common Stock on October 1, 2024, to cover tax liabilities arising from the vesting and settlement of restricted stock units.

Summary

• On October 1, 2024, Robert Shepardson, the Chief Financial Officer of American Well Corp (AMWL), sold 876 shares of Class A Common Stock.
• The sale was executed at a price of $9.1543 per share.
• The transaction was conducted to cover the tax liability resulting from the vesting and settlement of restricted stock units.
• Following the transaction, Shepardson directly owns 112,116 shares of Class A Common Stock.
• The sale was an automatic 'sell to cover' transaction and did not represent a discretionary trade by the reporting person.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to stock transactions. It doesn't inherently convey positive or negative sentiment, as it simply reports facts.

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 October 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

Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders. This particular filing reflects a common practice of executives selling shares to cover tax obligations related to equity compensation.

Stakeholder Impact

• The sale of shares by a company executive can sometimes be perceived negatively by shareholders, but in this case, it's a routine transaction to cover tax obligations and is unlikely to have a significant impact.

Key Dates