Jack Phillips - Jul 13, 2023 Form 4 Insider Report for Accelerate Diagnostics, Inc (AXDX)

Role
Chief Executive Officer, Director
Signature
/s/ David Patience, attorney-in-fact
Stock symbol
AXDX
Transactions as of
Jul 13, 2023
Transactions value $
-$5,030
Form type
4
Date filed
7/17/2023, 05:11 PM
Previous filing
Jul 10, 2023
Next filing
Aug 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AXDX Common Stock Options Exercise $0 +1.72K +3.21% $0.00 55.4K Jul 13, 2023 Direct F1
transaction AXDX Common Stock Sale -$5.03K -729 -1.32% $6.90 54.6K Jul 13, 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 AXDX Employee Restricted Stock Units Options Exercise $0 -1.72K -16.67% $0.00 8.61K Jul 13, 2023 Common Stock 1.72K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was granted restricted stock units ("RSUs"), which represent a contingent right to receive one share of Common Stock for each RSU. On May 20, 2021, the reporting person was granted a total of 20,659 restricted stock units, which vests in equal amounts every month for 12 months, which started vesting on January 13, 2023.
F2 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 "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.

Remarks:

On July 11, 2023, the issuer effected a reverse stock split of its common stock at a ratio of 1-for-10 (the "Reverse Stock Split"). As a result of the Reverse Stock Split, proportionate adjustments were made to the number of shares of the issuer's common stock underlying its outstanding equity awards, warrants and convertible notes, as well as the exercise or conversion price, as applicable. The amounts reported herein (and to be reported in subsequent reports) have been adjusted to reflect the Reverse Stock Split.