Amwell Board Changes and Compensation Updates
Ticker: AMWL · Form: 8-K · Filed: Oct 15, 2024 · CIK: 1393584
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: AMWL
TL;DR
Amwell's board is shuffling, and exec pay is getting tweaked. Keep an eye on this.
AI Summary
American Well Corporation (Amwell) announced on October 11, 2024, a change in its board of directors. Specifically, the company reported the departure of a director and the election of a new director, along with updates to its executive compensation arrangements. The filing does not disclose specific names of departing or newly elected directors, nor does it detail the exact nature of the compensatory arrangements.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial outlook, which are important for investors to monitor.
Risk Assessment
Risk Level: medium — Board and executive compensation changes can indicate underlying strategic shifts or governance issues that may impact the company's future performance.
Key Players & Entities
- American Well Corporation (company) — Registrant
- October 11, 2024 (date) — Date of earliest event reported
FAQ
Who is the departing director from American Well Corporation's board?
The filing does not specify the name of the departing director.
Who is the newly elected director to the American Well Corporation board?
The filing does not specify the name of the newly elected director.
What specific changes were made to executive compensation arrangements?
The filing indicates updates to compensatory arrangements of certain officers but does not provide specific details.
What is the primary reason for this 8-K filing?
The primary reason for this 8-K filing is to report the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on October 11, 2024.
Filing Stats: 1,413 words · 6 min read · ~5 pages · Grade level 12.3 · Accepted 2024-10-15 17:27:58
Key Financial Figures
- $0.01 — hich registered Class A Common Stock, $0.01 Par Value AMWL New York Stock Excha
- $485,000 — n will receive an annual base salary of $485,000. Mr. Hirschhorn will also be eligible f
- $500,000 b — ar year, Mr. Hirschhorn shall receive a $500,000 bonus. On or around November 4, 2024, Mr.
- $2,500,000 — stock units with a grant date value of $2,500,000 that settle in shares of Company's Clas
- $5,000,000 m — al Award") under which a total value of $5,000,000 may be earned. The Additional Award will
Filing Documents
- amwl-20241011.htm (8-K) — 51KB
- amwl-ex10_1.htm (EX-10.1) — 259KB
- amwl-ex99_1.htm (EX-99.1) — 18KB
- img267946692_0.jpg (GRAPHIC) — 181KB
- 0000950170-24-114765.txt ( ) — 732KB
- amwl-20241011.xsd (EX-101.SCH) — 24KB
- amwl-20241011_htm.xml (XML) — 5KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . The following exhibits are being filed herewith: 10.1 Employment Agreement between American Well Corporation and Mark Hirschhorn, dated October 14, 2024 . 99.1 Press Release, dated October 15, 2024, issued by American Well Corporation . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMERICAN WELL CORPORATION Date: October 15, 2024 By: /s/ Bradford Gay Bradford Gay Senior Vice President, General Counsel