4//SEC Filing
BRODSKY JEFFREY S 4
Accession 0001415889-25-010343
CIK 0001481646other
Filed
Apr 7, 8:00 PM ET
Accepted
Apr 8, 10:32 AM ET
Size
12.0 KB
Accession
0001415889-25-010343
Insider Transaction Report
Form 4
Accolade, Inc.ACCD
BRODSKY JEFFREY S
Director
Transactions
- Disposition to Issuer
Restricted Stock Units
2025-04-08−6,245→ 0 total→ Common Stock (6,245 underlying) - Disposition to Issuer
Common Stock
2025-04-08$7.03/sh−46,810$329,074→ 0 total - Disposition to Issuer
Restricted Stock Units
2025-04-08−35,021→ 0 total→ Common Stock (35,021 underlying)
Footnotes (5)
- [F1]Reflects disposition of the Issuer's Common Stock upon the consummation of the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 8, 2025, by and among Issuer, Transcarent, Inc. ("Parent") and Acorn Merger Sub, Inc., a wholly owned subsidiary of Parent ("Merger Sub"), including the consummation of the merger (the "Merger") between Issuer and Merger Sub on April 8, 2025. Pursuant to the Merger Agreement, as of the effective time of the Merger (the "Effective Time"), each share of the Issuer's Common Stock, par value $0.0001 per share ("Shares") issued and outstanding immediately prior to the Effective Time was converted automatically into the right to receive $7.03 in cash, without interest (the "Merger Consideration").
- [F2]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock. RSUs convert into the Issuer's Common Stock on a one-for-one basis.
- [F3]The shares subject to the RSU will vest on the earlier of (i) the date of the following annual meeting of the Issuer's stockholders (or the date immediately prior to the next annual meeting of the Issuer's stockholders if the Reporting Person's service as a director ends at such meeting due to the Reporting Person's failure to be re-elected or the director not standing for re-election) or (ii) August 6, 2025 (the one year anniversary of the 2024 annual meeting date), subject to continued service as a director through each applicable vesting date.
- [F4]Pursuant to the Merger Agreement, each RSU outstanding immediately prior to the Effective Time that is vested, after giving effect to any applicable vesting acceleration and separation right applicable to any individual other than a continuing employee, (each, a "Vested Company RSU") and restricted stock units outstanding immediately prior to the Effective Time that vest, or become eligible to vest, based on the achievement of performance conditions and that are vested or that will become vested as of immediately prior to the Effective Time, after giving effect to any applicable vesting acceleration and separation right applicable to any individual other than a continuing employee (each, a "Vested Company PSU") will be cancelled and converted into the right to receive the Merger Consideration, less any applicable tax withholdings.
- [F5]The shares subject to this RSU shall vest at a rate of twenty-five percent of the total number of shares on the last day of each quarter following March 1, 2025 (the "Vesting Commencement Date") for so long as the recipient of the RSU provides Continuous Service to the Issuer, such that the total number of shares shall be fully vested on the one-year anniversary of the Vesting Commencement Date.
Documents
Issuer
Accolade, Inc.
CIK 0001481646
Entity typeother
Related Parties
1- filerCIK 0001663751
Filing Metadata
- Form type
- 4
- Filed
- Apr 7, 8:00 PM ET
- Accepted
- Apr 8, 10:32 AM ET
- Size
- 12.0 KB