Schoenberg Ido 4
4 · American Well Corp · Filed May 16, 2023
Insider Transaction Report
Form 4
Schoenberg Ido
DirectorChairman, co-CEO
Transactions
- Exercise/Conversion
Class A Common Stock
2023-05-15+500,000→ 1,816,909 total - Sale
Class A Common Stock
2023-05-15$2.04/sh−250,610$512,447→ 1,566,299 total - Exercise/Conversion
Performance Share Units
2023-05-15−500,000→ 500,000 total→ Class A Common Stock (500,000 underlying)
Holdings
- 665,902(indirect: By Spouse)
Class A Common Stock
Footnotes (2)
- [F1]Each Performance Share Unit represents a contingent right to receive one share of Class A Common Stock of the Issuer. On May 16, 2022, the reporting person received a grant of 1,000,000 target Performance Share Units which are eligible to vest over a three-year performance period ending May 15, 2025, and may be earned between 0%-750% of target levels, based upon the Issuer's achievement of specified market capitalization performance thresholds, subject to the reporting person's continued employment through each applicable vesting date. On May 15, 2023, 500,000 shares underlying the Performance Share Units became earned and vested.
- [F2]The sales reported in this Form 4 were made in order to pay the tax liability arising from the vesting and settlement of performance share units on May 15, 2023. The sales were effected through an automatic "sell to cover" transaction that did not represent a discretionary trade by the reporting person.