Form 4: Teladoc Health CFO Mala Murthy Reports Stock Transactions
SEC Form 4
Teladoc Health's CFO, Mala Murthy, reported the acquisition and disposal of company stock and derivative securities, including the conversion of performance and restricted stock units and a sale to cover tax obligations.
Summary
- On August 30, 2024, Mala Murthy, the CFO of Teladoc Health, Inc. [TDOC], reported several transactions involving the company's stock.
- These transactions included the conversion of performance stock units into 2,641 shares of common stock.
- Additionally, restricted stock units were converted into 3,369 shares, 2,044 shares, and 7,750 shares of common stock on the same date.
- On September 3, 2024, Murthy sold 8,750 shares at a price of $7.164 per share to cover tax withholding obligations related to the vesting of performance and restricted stock units.
- Following these transactions, Murthy directly owns 85,767 shares of Teladoc Health common stock.
- Murthy also holds 15,849 Performance Stock Units, 6,738 Restricted Stock Units, 6,132 Restricted Stock Units and 46,504 Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral. It simply reports transactions.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and provides transparency to investors regarding the trading activities of company executives. It is a standard practice for publicly traded companies.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership, but the sale of shares to cover tax obligations is a common practice.
- Employees holding similar stock units may be interested in the details of the vesting schedules and tax implications.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Reporting person was granted 40,426 restricted stock units, vesting one-third on the first anniversary of the grant date, with the remainder vesting in eight substantially equal quarterly installments thereafter. |
| 06/01/2022 | Reporting person was granted 24,525 restricted stock units, vesting one-third on the first anniversary of the grant date, with the remainder vesting in eight substantially equal quarterly installments thereafter. |
| 03/03/2023 | Reporting person was granted 93,006 restricted stock units, vesting one-third on March 1, 2024, with the remainder vesting in eight substantially equal quarterly installments thereafter. |
| 03/01/2024 | The performance stock units vest as to one-third on March 1, 2024, with the remainder vesting in eight substantially equal quarterly installments thereafter. |
| 08/30/2024 | Date of earliest transaction: conversion of performance and restricted stock units. |
| 09/03/2024 | Sale of shares to cover tax withholding obligation. |
| 09/04/2024 | Date of signature on the Form 4 filing. |
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