Form 4: American Well Corp Executive Paul McNeice Sells Shares to Cover Tax Obligations

Paul Francis McNeice, Chief Accounting Officer of American Well Corp, sold 165 shares of Class A Common Stock on September 3, 2024, to cover tax liabilities from vested restricted stock units.

Summary

• Paul Francis McNeice, the Chief Accounting Officer of American Well Corp, reported a transaction on September 3, 2024.
• McNeice sold 165 shares of Class A Common Stock at a price of $7.8719 per share.
• The sale was executed to cover tax liabilities arising from the vesting and settlement of restricted stock units on September 1, 2024.
• Following the transaction, McNeice directly owns 9,507 shares of American Well Corp.
• The sale was an automatic 'sell to cover' transaction and did not represent a discretionary trade by McNeice.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sell to cover taxes) with no indication of 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 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

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction appears to be a standard 'sell to cover' to manage tax obligations, which is a common practice.

Key Dates