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

Phyllis Gotlib, President, International at American Well Corp, sold 3,574 shares of Class A Common Stock on September 3, 2024, to cover tax liabilities arising from the vesting of restricted stock units.

Summary

• Phyllis Gotlib, President, International of American Well Corp, reported a transaction on September 3, 2024.
• She sold 3,574 shares of Class A Common Stock at a price of $7.8719 per share.
• The sale was executed to cover tax liabilities related to the vesting and settlement of restricted stock units on September 1, 2024.
• Following the transaction, Gotlib directly owns 114,586 shares of Class A Common Stock and indirectly owns 64,250 shares through her husband.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction to cover tax obligations, not indicative of a major positive or negative outlook for 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 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

Executive stock sales are a common occurrence, particularly to cover tax obligations related to equity compensation. The market typically views these sales as routine unless they are unusually large or frequent, which could signal concerns about the company's prospects.

Stakeholder Impact

• The sale is unlikely to have a significant impact on stakeholders as it is a routine transaction.

Key Dates