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

Phyllis Gotlib, President, International at American Well Corp, sold shares of Class A Common Stock on January 2, 2025, to cover tax liabilities arising from the vesting and settlement of restricted stock units.

Summary

• Phyllis Gotlib, President, International of American Well Corp [AMWL], reported a transaction on January 2, 2025.
• Gotlib sold 1,068 shares of Class A Common Stock at a price of $7.1688 per share to cover tax liabilities.
• The sale was executed through an automatic 'sell to cover' transaction.
• Following the transaction, Gotlib directly owns 108,840 shares of Class A Common Stock.
• Gotlib also indirectly owns 64,250 shares of Class A Common Stock through her husband.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction (sell to cover taxes) and doesn't indicate any strong positive or negative sentiment regarding the company's 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 January 2, 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. Monitoring these transactions provides insights into executive sentiment and potential liquidity events.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but the stated reason (covering tax liabilities) mitigates potential concerns.

Key Dates