Ido Schoenberg - May 15, 2023 Form 4 Insider Report for American Well Corp (AMWL)

Signature
/s/ Bradford Gay as attorney-in-fact for Ido Schoenberg
Stock symbol
AMWL
Transactions as of
May 15, 2023
Transactions value $
-$512,447
Form type
4
Date filed
5/16/2023, 06:57 PM
Previous filing
May 2, 2023
Next filing
Jun 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMWL Class A Common Stock Options Exercise +500K +37.97% 1.82M May 15, 2023 Direct F1
transaction AMWL Class A Common Stock Sale -$512K -251K -13.79% $2.04 1.57M May 15, 2023 Direct F2
holding AMWL Class A Common Stock 666K May 15, 2023 By Wife

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 AMWL Performance Share Units Options Exercise -500K -50% 500K May 15, 2023 Class A Common Stock 500K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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.