Amwell Board Changes and Compensation Updates

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

From the Filing

0000950170-24-114765.txt : 20241015 0000950170-24-114765.hdr.sgml : 20241015 20241015172758 ACCESSION NUMBER: 0000950170-24-114765 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20241011 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241015 DATE AS OF CHANGE: 20241015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: American Well Corp CENTRAL INDEX KEY: 0001393584 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39515 FILM NUMBER: 241372767 BUSINESS ADDRESS: STREET 1: 75 STATE STREET STREET 2: 26TH FLOOR CITY: Boston STATE: MA ZIP: 02109 BUSINESS PHONE: 617-205-3500 MAIL ADDRESS: STREET 1: 75 STATE STREET STREET 2: 26TH FLOOR CITY: Boston STATE: MA ZIP: 02109 8-K 1 amwl-20241011.htm 8-K 8-K false 0001393584 0001393584 2024-10-11 2024-10-11   UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 11, 2024     American Well Corporation (Exact name of Registrant as Specified in Its Charter)     Delaware 001-39515 20-5009396 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           75 State Street 26th Floor   Boston , Massachusetts   02109 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: 617 204-3500     (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Class A Common Stock, $0.01 Par Value   AMWL   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Resignation of Chief Financial Officer On October 11, 2024, Mr. Robert Shepardson informed American Well Corporation (the “Company”) of his intention to resign as Chief Financial Officer (“CFO”), effective October 18, 2024. Mr. Shepardson’s decision to resign did not involve any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Appointment of Chief Financial Officer O