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

Phyllis Gotlib, President, International at American Well Corp, sold 225 shares of Class A Common Stock on August 1, 2024, to cover tax liabilities from vesting restricted stock units.

Summary

• Phyllis Gotlib, President, International of American Well Corp, reported a transaction on August 1, 2024.
• She sold 225 shares of Class A Common Stock at a price of $9.5558 per share.
• The sale was to cover tax liabilities arising from the vesting and settlement of restricted stock units.
• The transaction was an automatic 'sell to cover' and not a discretionary trade.
• Following the transaction, Gotlib directly owns 118,160 shares of Class A Common Stock and indirectly owns 64,250 shares through her husband.
• A 1-for-20 reverse stock split occurred on July 10, 2024, which adjusted the number of shares beneficially owned.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a routine stock sale to cover tax obligations. It doesn't inherently convey positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Stakeholder Impact

• The sale of shares by an insider could be perceived neutrally or slightly negatively by shareholders, depending on the context and the size of the transaction relative to the insider's holdings.

Key Dates