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

Kathy Johnson Weiler, Chief Commercial & Growth Officer of American Well Corp, sold 7,266 shares of Class A Common Stock to cover tax liabilities arising from vested restricted stock units.

Summary

• On September 3, 2024, Kathy Johnson Weiler, Chief Commercial & Growth Officer of American Well Corp, sold 7,266 shares of Class A Common Stock.
• The shares were sold at a price of $7.8719 per share.
• The sale was executed to cover the tax liability arising from the vesting and settlement of restricted stock units on September 1, 2024.
• The transaction was an automatic 'sell to cover' and did not represent a discretionary trade.
• Following the transaction, Weiler beneficially owns 188,027 shares of Class A Common Stock.
• A 1-for-20 reverse stock split was effected by the issuer on July 10, 2024, resulting in proportionate adjustments to the number of shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. The sale is to cover tax obligations, which is a neutral event.

Industry Context

Insider sales are a common occurrence, especially to cover tax obligations related to equity compensation. The market typically views these sales in the context of the executive's overall holdings and the reasons behind the sale.

Stakeholder Impact

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

Key Dates