Form 4: American Well Corp Director, Robert Webb, Reports Stock Grant and Corrects Previous Filing Error

Director Robert Webb received a grant of restricted stock units and corrected an error in previous filings regarding the total number of securities beneficially owned.

Summary

• Robert Webb, a director of American Well Corp, filed a Form 4.
• The filing reports a transaction date of June 18, 2024.
• Webb acquired 543,773 shares of Class A Common Stock through a grant of restricted stock units at a price of $0.00.
• Following the transaction, Webb beneficially owns 743,341 shares.
• The filing also corrects an administrative error in previous filings regarding the total number of securities beneficially owned.
• The restricted stock units vest on the earlier of the day before the first annual meeting following the grant date or the first anniversary of the grant date.

Sentiment

Score: 7

Explanation: The sentiment is neutral. The document primarily reports a stock grant and corrects a previous administrative error. The correction is a positive aspect, ensuring accurate reporting.

Positives

• The correction of the administrative error ensures accurate reporting of beneficial ownership.

Negatives

• Previous filings contained an administrative error regarding the total number of securities beneficially owned.

Future Outlook

The restricted stock units will vest on the earlier of (i) the day immediately preceding the date of the first annual meeting of the stockholders following the grant date and (ii) the first anniversary of the grant date.

Industry Context

Form 4 filings are standard practice for corporate insiders to report changes in their beneficial ownership of company stock, providing transparency to investors.

Stakeholder Impact

• Shareholders are informed about changes in beneficial ownership by a company director.
• The correction of the administrative error ensures accurate information for investors.

Key Dates