Form 4: American Well Corp COO Kurt Knight Sells Shares to Cover Tax Obligations

Kurt Knight, Chief Operating Officer of American Well Corp, sold 13,636 shares of Class A Common Stock on July 1, 2024, to cover tax liabilities arising from the vesting and settlement of restricted stock units.

Summary

• On July 1, 2024, Kurt Knight, the Chief Operating Officer of American Well Corp, sold 13,636 shares of Class A Common Stock.
• The sale was executed at a price of $0.3036 per share.
• This transaction was conducted to cover the tax liability resulting from the vesting and settlement of restricted stock units.
• The sale was an automatic 'sell to cover' transaction and did not represent a discretionary trade by Mr. Knight.
• Following the transaction, Mr. Knight still beneficially owns 2,992,141 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock transactions for tax purposes. It doesn't inherently convey positive or negative 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 July 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 'sell to cover' mechanism is a standard practice to manage tax obligations associated with equity compensation.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the increased supply of shares, but the effect is likely minimal given the relatively small number of shares sold compared to the total outstanding.

Key Dates