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 November 1, 2024, to cover tax liabilities arising from the vesting and settlement of restricted stock units.

Summary

• On November 1, 2024, Phyllis Gotlib, President, International of American Well Corp [AMWL], sold 224 shares of Class A Common Stock at a price of $8.9302 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 113,564 shares of Class A Common Stock and indirectly owns 64,250 shares through her husband.

Sentiment

Score: 5

Explanation: Neutral sentiment as the transaction is a routine sale to cover tax obligations, not necessarily indicative of the executive's view on the company's future 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 November 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

Executive stock sales are a common occurrence, particularly when tied to vesting events of equity compensation. Monitoring these transactions provides insights into executive sentiment and potential liquidity events.

Stakeholder Impact

• The sale has a minimal impact on shareholders as it's a small transaction related to tax obligations.
• Employees are not directly impacted by this transaction.

Key Dates