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

Kurt Knight, Chief Operating Officer of American Well Corp, sold 3,053 shares of Class A Common Stock on September 3, 2024, to cover tax liabilities from vested restricted stock units.

Summary

• On September 3, 2024, Kurt Knight, the Chief Operating Officer of American Well Corp, sold 3,053 shares of Class A Common Stock.
• The shares were sold at a price of $7.8719 per share.
• The sale was executed to cover the tax liability arising from the vesting and settlement of restricted stock units on September 1, 2024.
• The transaction was an automatic 'sell to cover' transaction and did not represent a discretionary trade by the reporting person.
• Following the transaction, Knight still beneficially owns 146,286 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: This is a neutral event. The stock sale is related to tax obligations and doesn't reflect a change in the executive's outlook on the company.

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 September 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 for tax purposes are a common occurrence, especially after vesting of restricted stock units. This is a routine transaction and doesn't necessarily indicate a change in the executive's confidence in the company.

Key Dates