Form 4: Teladoc Health Executive Andrew Turitz Reports Stock Transactions
SEC Form 4
EVP Andrew Turitz reports the acquisition and disposal of Teladoc Health (TDOC) common stock and derivative securities, including transactions related to vesting of performance and restricted stock units.
Summary
- Andrew Turitz, EVP of Corporate Development at Teladoc Health, filed a Form 4 detailing changes in beneficial ownership.
- On August 30, 2024, Turitz acquired 1,056 shares of common stock through the vesting of performance stock units, 1,348 shares through restricted stock units, and 3,100 shares through restricted stock units.
- On September 3, 2024, Turitz sold 1,617 shares at a price of $7.164 per share to cover tax withholding obligations related to the vesting of stock units.
- Following these transactions, Turitz directly owns 41,546 shares of Teladoc Health common stock.
- Turitz also holds derivative securities, including 6,341 performance stock units and 21,298 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive stock transactions are a common occurrence in publicly traded companies like Teladoc Health.
- Similar filings are made by executives at companies like Amwell (AMWL) and Accolade (ACCD), which are also in the telehealth space.
- The size and frequency of these transactions are typical for executives receiving stock-based compensation.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares involved.
- The sale of shares to cover tax obligations is a common practice and doesn't necessarily indicate a lack of confidence in the company.
Key Dates
| Date | Description |
|---|---|
| March 1, 2022 | Reporting person was granted 16,170 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. |
| March 3, 2023 | Reporting person was granted 37,202 restricted stock units, vesting one-third on March 1, 2024, with the remainder vesting in eight substantially equal quarterly installments thereafter. |
| March 1, 2024 | One-third of performance stock units vest. |
| 08/30/2024 | Acquisition of 1,056 shares via performance stock units, 1,348 shares via restricted stock units, and 3,100 shares via restricted stock units. |
| 09/03/2024 | Sale of 1,617 shares at $7.164 per share. |
| 09/04/2024 | Date of Form 4 signature. |
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