Form 4: American Well Corp Director Deborah C. Jackson Sells Shares to Cover Tax Obligations

Director Deborah C. Jackson sold 42,202 shares of American Well Corp Class A Common Stock on June 24, 2024, to cover tax liabilities arising from the vesting of restricted stock units.

Summary

• Deborah C. Jackson, a director of American Well Corp [AMWL], sold 42,202 shares of Class A Common Stock on June 24, 2024.
• The sale was executed at a price of $0.4072 per share.
• This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on November 13, 2023.
• The purpose of the sale was to cover the tax liability resulting from the vesting and settlement of restricted stock units on June 17, 2024.
• Following the transaction, Jackson directly owns 636,683 shares of Class A Common Stock and indirectly owns 12,250 shares through a spouse.

Sentiment

Score: 5

Explanation: The document describes a routine stock sale by a director to cover tax obligations, which is neither particularly positive nor negative. The use of a pre-arranged trading plan mitigates concerns about insider trading.

Industry Context

Sales by insiders are a common occurrence, especially to cover tax obligations related to stock-based compensation. The use of a 10b5-1 plan suggests the insider planned the sale in advance to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a director could have a minor negative impact on shareholder sentiment, although the pre-planned nature of the sale mitigates this concern.

Key Dates