Morgan Stanley entities report 7.8% stake in American Well (AMWL)

Rhea-AI Filing Summary

American Well Corp (AMWL) Schedule 13G/A amendment reports beneficial ownership by Morgan Stanley entities. The filing shows shared voting power of 1,155,379 and shared dispositive power of 1,156,087 for Morgan Stanley; Morgan Stanley Capital Services LLC shows 1,144,003 shared voting and dispositive power. The filing lists 7.8% and 7.7% of the Class A Common Stock for the respective reporting units and includes exhibits: a joint filing agreement and Item 7 subsidiary information.

Insights

Institutional Ownership Analyst

Institutional holders file updated beneficial ownership and voting/dispositive counts.

The amendment clarifies the amounts attributed to Morgan Stanley reporting units, showing shared voting power of 1,155,379 and shared dispositive power of 1,156,087 for MS, and 1,144,003 for Morgan Stanley Capital Services LLC. The filing reports 7.8% and 7.7% of Class A stock respectively.

These positions are presented as aggregate reporting‑unit holdings; cash‑flow treatment and any trading intent are not disclosed in the excerpt. Subsequent filings or exhibits may identify the specific subsidiary referenced under Item 7.

Key Figures

Shared voting power (MS): 1,155,379 shares Shared dispositive power (MS): 1,156,087 shares Shared voting & dispositive power (MS Capital Services): 1,144,003 shares +2 more

5 metrics

Shared voting power (MS) 1,155,379 shares Morgan Stanley reporting units (cover page)

Shared dispositive power (MS) 1,156,087 shares Morgan Stanley reporting units (cover page)

Shared voting & dispositive power (MS Capital Services) 1,144,003 shares Morgan Stanley Capital Services LLC (cover page)

Percent of Class A (MS) 7.8% Percent of class reported in Item 4/cover page

Percent of Class A (MS Capital Services) 7.7% Percent of class reported in cover page for Morgan Stanley Capital Services LLC

Key Terms

shared dispositive power, Schedule 13G/A, Joint Filing Agreement

3 terms

shared dispositive power regulatory

"Shared Dispositive Power 1,156,087.00"

Schedule 13G/A regulatory

"Item 1. (a) Name of issuer: American Well Corp"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Joint Filing Agreement regulatory

"EXHIBIT NO. 99.1 Joint Filing Agreement"

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Accepted by SEC EDGAR 05/11/2026 - 04:29 PM Learn about SEC filing dates

FAQ

What ownership stake does Morgan Stanley report in AMWL?

Morgan Stanley reporting units disclose shared dispositive power over 1,156,087 shares, representing 7.8% of Class A Common Stock as reported in the amendment. The filing attributes these amounts to MS reporting units rather than a single legal entity.

What does the 7.7% figure for Morgan Stanley Capital Services LLC mean?

Morgan Stanley Capital Services LLC reports shared voting and dispositive power over 1,144,003 shares, equal to 7.7% of Class A Common Stock. This reflects holdings attributed to that reporting unit on the Schedule 13G/A cover page.

Does this Schedule 13G/A show sole voting or sole dispositive power?

The cover responses show 0 sole voting and sole dispositive power for the listed Morgan Stanley reporting units; the disclosed positions are recorded as shared voting and shared dispositive powers in the amendment.

Are subsidiaries or specific units identified in the filing?

The amendment references an Exhibit (Item 7) that identifies the relevant subsidiary or MS reporting units and includes a Joint Filing Agreement (Exhibit 99.1) and Item 7 information (Exhibit 99.2) for unit-level identification.

Who signed the Schedule 13G/A amendment for these holdings?

An authorized signatory, Claire Gordon, signed on behalf of Morgan Stanley and Morgan Stanley Capital Services LLC; signatures are dated 05/11/2026 on the amendment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

American Well Corp

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

03044L204

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 03044L204

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,155,379.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,156,087.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,156,087.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.8 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP Number(s): 03044L204

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,144,003.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,144,003.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,144,003.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.7 %

12

Type of Reporting Person (See Instructions)

BD, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: American Well Corp
(b)	Address of issuer's principal executive offices: 75 STATE STREET, 26TH FLOOR, Boston, MA, 02109
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 03044L204
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 7.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	05/11/2026

Morgan Stanley Capital Services LLC

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	05/11/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).