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

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

Summary

• On August 1, 2024, Kurt Knight, the Chief Operating Officer of American Well Corp, sold 268 shares of Class A Common Stock at a price of $9.5558 per share.
• The sale was executed to cover the tax liability resulting from the vesting and settlement of restricted stock units.
• The transaction was an automatic 'sell to cover' and did not represent a discretionary trade by Knight.
• Following the transaction, Knight beneficially owns 149,339 shares of Class A Common Stock.
• A 1-for-20 reverse stock split was effected by the issuer on July 10, 2024, which resulted in proportionate adjustments to the number of shares beneficially owned by the reporting person.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sell to cover taxes) and a previously announced reverse stock split, so it is neutral in sentiment.

Industry Context

Sales of shares to cover tax obligations after vesting of restricted stock units are a common practice among corporate executives. This transaction is a routine part of executive compensation and tax management.

Stakeholder Impact

• The sale of shares by an executive could have a minor, temporary impact on shareholder sentiment, but is unlikely to have a significant long-term effect.

Key Dates