Colin McHugh - Jul 3, 2023 Form 4 Insider Report for Accolade, Inc. (ACCD)

Role: Chief Accounting Officer
Signature: /s/ Richard Eskew, Attorney-in-Fact
Stock symbol: ACCD
Transactions as of: Jul 3, 2023
Transactions value $: -$4,668
Form type: 4
Date filed: 7/6/2023, 04:02 PM
Previous filing: Jul 6, 2023
Next filing: Aug 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ACCD	Common Stock	Sale	-$4.67K	-389	-1.3%	$12.00	29.5K	Jul 5, 2023	Direct	F1
transaction	ACCD	Common Stock	Options Exercise		+1.09K	+3.78%		29.9K	Jul 3, 2023	Direct	F2
transaction	ACCD	Common Stock	Options Exercise		+145	+0.51%		28.8K	Jul 3, 2023	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		-1.09K	-8.33%		12K	Jul 3, 2023	Common Stock	1.09K		Direct	F3, F4
transaction	ACCD	Restricted Stock Units	Options Exercise		-145	-4.16%		3.34K	Jul 3, 2023	Common Stock	145		Direct	F3, F5

* 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 was to satisfy 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	Each restricted stock unit ("RSU") converted into one share of Common Stock.
F3	Each RSU represents a contingent right to receive one share of the Issuer's Common Stock.
F4	The shares subject to this RSU shall vest over a two-year period commencing June 1, 2022 (the "June 2022 Vesting Commencement Date"), as follows: (1) in the first year following the June 2022 Vesting Commencement Date, 1/8th of the total number of shares each quarter following the June 2022 Vesting Commencement Date, and (2) in the second year following the June 2022 Vesting Commencement Date, 1/24th of the total number of shares each month of such second year of vesting, in each case for so long as the Reporting Person remains in service with the Issuer, such that the total number of shares shall be fully vested on the two-year anniversary of the June 2022 Vesting Commencement Date.
F5	The shares subject to this RSU shall vest at a rate of twenty-five percent of the total number of shares on the first anniversary of June 1, 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 remains in service with 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.