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

Phyllis Gotlib, President of International at American Well Corp, sold 3,656 shares of Class A Common Stock to cover tax liabilities arising from the vesting of restricted stock units.

Summary

• Phyllis Gotlib, President of International at American Well Corp, sold 3,656 shares of Class A Common Stock on December 2, 2024.
• The sale was executed at a price of $9.2224 per share.
• This transaction was a 'sell to cover' to satisfy tax obligations related to the vesting of restricted stock units.
• Following the transaction, Ms. Gotlib directly owns 109,908 shares of Class A Common Stock and indirectly owns 64,250 shares through her husband.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment towards 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 December 2, 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

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when restricted stock units vest.

Comparison to Industry Standards

• Many executives at publicly traded companies use 'sell to cover' transactions to manage tax obligations related to stock-based compensation.
• This type of transaction is a standard practice and does not necessarily indicate a change in the executive's outlook on the company's future.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on the stock price, but this is a common transaction and unlikely to cause significant concern.

Key Dates

Keywords

insider trading, Form 4, stock sale, executive, American Well Corp, AMWL, restricted stock units, tax obligations