Form 4: American Well Corp Executive Phyllis Gotlib Sells Shares to Cover Tax Obligations

Phyllis Gotlib, President of International at American Well Corp, sold 299 shares of Class A Common Stock to cover tax liabilities arising from the vesting of restricted stock units.

Summary

• On February 3, 2025, Phyllis Gotlib, President, International of American Well Corp, sold 299 shares of Class A Common Stock at a price of $10.5063 per share.
• The sale was executed to cover the tax liability resulting from the vesting and settlement of restricted stock units.
• Following the transaction, Gotlib directly owns 108,611 shares of Class A Common Stock and indirectly owns 64,250 shares through her husband.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an executive stock sale for tax purposes. It doesn't convey any particularly positive or negative sentiment about the company's performance or prospects.

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 February 3, 2025.
• 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 are a common occurrence, particularly to cover tax obligations related to equity compensation. The sale itself is unlikely to have a significant impact on the company's overall performance or stock price, but it provides insight into executive compensation and financial planning.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a standard practice across publicly traded companies.
• The number of shares sold is relatively small compared to the total outstanding shares of American Well Corp, suggesting it's a routine transaction.
• Comparable companies often have similar 'sell to cover' programs for their executives' equity compensation.

Stakeholder Impact

• The stock sale is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, American Well Corp, AMWL, Phyllis Gotlib, Stock Sale, Restricted Stock Units, Tax Liability, Beneficial Ownership, Insider Trading