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

Robert Shepardson, CFO of American Well Corp, sold 5,177 shares of Class A Common Stock on September 3, 2024, to cover tax liabilities arising from the vesting of restricted stock units.

Summary

• Robert Shepardson, the Chief Financial Officer of American Well Corp [AMWL], reported a transaction on SEC Form 4.
• On September 3, 2024, Shepardson sold 5,177 shares of Class A Common Stock at a price of $7.8719 per share.
• The sale was executed to cover the tax liability resulting from the vesting and settlement of restricted stock units on September 1, 2024.
• The transaction was an automatic 'sell to cover' and did not represent a discretionary trade.
• Following the reported transaction, Shepardson beneficially owns 112,992 shares of Class A Common Stock.
• On July 10, 2024, American Well Corp executed a 1-for-20 reverse stock split, which has been reflected in the adjusted share numbers.

Sentiment

Score: 5

Explanation: The document reports a routine stock sale to cover tax obligations, which is neutral in sentiment.

Industry Context

Sales of shares to cover tax obligations are a routine part of executive compensation and are not necessarily indicative of the executive's view of the company's future prospects.

Stakeholder Impact

• The sale of shares may have a minor impact on shareholders due to the small volume of shares sold.

Key Dates