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

Summary

• On May 1, 2024, Phyllis Gotlib, President, International at American Well Corp [AMWL], sold 4,469 shares of Class A Common Stock at a price of $0.5211 per share.
• The sale was executed to cover the tax liability resulting from the vesting and settlement of restricted stock units.
• Following the transaction, Ms. Gotlib directly owns 2,455,110 shares of Class A Common Stock and indirectly owns 1,285,011 shares through her husband.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale to cover tax obligations and doesn't necessarily reflect a change in the executive's confidence in 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 May 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. Monitoring these transactions can provide insights into executive sentiment and company performance.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact due to the stated reason for the sale.

Key Dates