SCHEDULE: Nantahala Capital Discloses 5.76% Stake in EHEALTH

Nantahala Capital Management, LLC, along with Wilmot B. Harkey and Daniel Mack, reported a 5.76% beneficial ownership stake in EHEALTH, INC. as of September 30, 2025.

Summary

• Nantahala Capital Management, LLC, Wilmot B. Harkey, and Daniel Mack (collectively, the "Reporting Persons") have filed a Schedule 13G regarding their beneficial ownership in EHEALTH, INC.
• As of September 30, 2025, the Reporting Persons collectively beneficially own 1,761,441 shares of EHEALTH, INC. Common Stock.
• This ownership represents 5.76% of the total outstanding Common Stock of EHEALTH, INC.
• Nantahala Capital Management, LLC is classified as an investment adviser, while Wilmot B. Harkey and Daniel Mack are classified as control persons.
• The shares are held by funds and separately managed accounts under Nantahala Capital Management, LLC's control.
• The Reporting Persons share both voting power and dispositive power over all 1,761,441 shares.
• The acquisition of these securities was made in the ordinary course of business and not for the purpose of changing or influencing the control of EHEALTH, INC.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment regarding the company's operational or financial performance. The presence of an institutional investor can be seen as a neutral to slightly positive signal.

Positives

• A significant institutional investor, Nantahala Capital Management, LLC, has disclosed a substantial 5.76% stake in EHEALTH, INC., which can be interpreted as a vote of confidence in the company's prospects.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding EHEALTH, INC.'s future performance or strategic direction.

Industry Context

This filing indicates increased institutional interest in EHEALTH, INC., a company operating in the online health insurance marketplace. Such disclosures are common as investment managers adjust their portfolios based on market opportunities and company performance within the broader healthcare technology sector.

Stakeholder Impact

• Shareholders may view the disclosure of a significant stake by an institutional investor as a positive signal, potentially increasing confidence in the company's value proposition.

Key Dates

Keywords

EHEALTH, Nantahala Capital Management, Schedule 13G, beneficial ownership, institutional ownership, investment adviser, common stock