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

Summary

• On July 1, 2024, Phyllis Gotlib, President, International at American Well Corp, sold 15,953 shares of Class A Common Stock at a price of $0.3036 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 2,367,702 shares of American Well Corp Class A Common Stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (selling shares to cover taxes) and doesn't convey any strong positive or negative sentiment about 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 July 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 to cover tax obligations are a common occurrence, particularly after the vesting of restricted stock units. This transaction is a routine financial activity and doesn't necessarily indicate a change in the executive's confidence in the company.

Key Dates