American Well's chief accounting officer sells $702 in stock

According to the filing, the sale was executed as part of an automatic "sell to cover" transaction, which was necessary to cover tax liabilities resulting from the vesting and settlement of restricted stock units. This type of transaction is not discretionary and does not indicate a personal decision to sell by McNeice. InvestingPro analysis reveals the company maintains a strong liquidity position with more cash than debt and is scheduled to report earnings on February 12, 2025. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report. InvestingPro analysis reveals the company maintains a strong liquidity position with more cash than debt and is scheduled to report earnings on February 12, 2025. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report.

According to the filing, the sale was executed as part of an automatic "sell to cover" transaction, which was necessary to cover tax liabilities resulting from the vesting and settlement of restricted stock units. This type of transaction is not discretionary and does not indicate a personal decision to sell by McNeice.

In other recent news, American Well Corporation, a business services company, has unveiled its financial results and strategic plans. The company reported stable third-quarter revenues of $61 million, despite a slight dip in visits and subscription revenue. In addition, the adjusted EBITDA improved to negative $31 million, showcasing progress from the previous quarter and year.

American Well Corporation has also adopted a new inducement plan, approved by the board, which is set to take effect on November 4, 2024. The plan allows for equity-based awards such as non-qualified stock options and restricted stock units, with 1,222,960 shares of Class A common stock earmarked for awards.

The company's newly appointed Chief Financial Officer, Mark Hirschhorn, has been granted awards under this plan as part of his employment agreement. Furthermore, the company is on track for the full deployment of its Defense Health Agency contract by the end of 2024 and expects to achieve cash flow positivity by 2026.

Analysts have noted a decrease in sales and marketing expenses, indicating a potential reduction in growth investments. However, new contracts are expected to contribute significantly to subscription revenue growth in 2025. These are among the recent developments that investors are monitoring as they look forward to the company's 2025 guidance, to be revealed during the next earnings call.

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