Robert N. Cavanaugh - Aug 16, 2022 Form 4 Insider Report for Accolade, Inc. (ACCD)

Role
President
Signature
/s/ Richard Eskew, Attorney-in-Fact
Stock symbol
ACCD
Transactions as of
Aug 16, 2022
Transactions value $
-$1,951
Form type
4
Date filed
8/18/2022, 03:04 PM
Previous filing
Jul 19, 2022
Next filing
Sep 20, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACCD Common Stock Sale -$1.95K -160 -0.11% $12.19 143K Aug 17, 2022 Direct F1
transaction ACCD Common Stock Options Exercise +510 +0.36% 143K Aug 16, 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ACCD Restricted Stock Units Options Exercise -510 -2.86% 17.3K Aug 16, 2022 Common Stock 510 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale is mandated by the Issuer's election to require the satisfaction of tax withholding obligations to be funded by a "mandatory sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
F2 The Reporting Person was granted restricted stock units ("RSUs"), which represent a contingent right to receive one share of Common Stock for each RSU. 25% of the RSUs vested on June 16, 2022, and additional RSUs will vest monthly thereafter provided that the Reporting Person remains in continuous service on each vesting date. Unless otherwise provided, on each vesting date shares of Common Stock will automatically be sold to satisfy the Reporting Person's tax withholding obligations in a non-discretionary transaction.
F3 Each RSU represents the contingent right to receive one share of the Issuer's common stock.
F4 The shares subject to this RSU shall vest at a rate of twenty-five percent of the total number of shares on the one-year anniversary of June 16, 2021 (the "June 2021 Vesting Commencement Date") and 1/48th of the total number of shares each monthly anniversary of the June 2021 Vesting Commencement Date thereafter for so long as the Reporting Person provides continuous service to the Issuer, such that the total number of shares shall be fully vested on the four-year anniversary of the June 2021 Vesting Commencement Date.