Form 4: Director Gallagher's Health Catalyst RSU Vesting

Health Catalyst Director Duncan Gallagher reported the vesting of 6,209 restricted stock units on December 1, 2025.

Summary

• Duncan Gallagher, a Director of Health Catalyst, Inc. (HCAT), reported the acquisition of 6,209 shares of common stock.
• The transaction occurred on December 1, 2025, with a reported price of $0.00 per share.
• This acquisition represents the vesting of restricted stock units (RSUs) granted under the Issuer's 2019 Stock Option and Incentive Plan.
• 100% of these RSUs vested on December 1, 2025, in accordance with the Issuer's Non-Employee Director Compensation Policy.
• Following this transaction, Duncan Gallagher beneficially owns a total of 124,461 shares of Health Catalyst common stock.

Sentiment

Score: 6

Explanation: The filing reports a routine, pre-scheduled equity compensation event for a director. This is a neutral to slightly positive event as it indicates continued alignment of director interests with shareholders, without introducing new material information about the company's operational or financial performance.

Positives

• The vesting of restricted stock units for Director Duncan Gallagher aligns his interests with those of shareholders, promoting long-term commitment to the company's performance.

Future Outlook

This filing does not contain any forward-looking statements or guidance beyond the reported transaction date.

Industry Context

The granting and vesting of restricted stock units to non-employee directors is a common practice in the technology and healthcare industries, serving as a key component of executive and director compensation to align their interests with long-term shareholder value.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) as a component of non-employee director compensation is a standard practice across publicly traded companies, particularly within the growth-oriented technology and healthcare sectors. This aligns with compensation structures seen at comparable companies aiming to retain talent and incentivize long-term performance.

Related Party Transactions

• Grant and vesting of 6,209 restricted stock units to Director Duncan Gallagher, a related party, as part of the company's established non-employee director compensation policy and 2019 Stock Option and Incentive Plan.

Stakeholder Impact

• Shareholders: The vesting of RSUs for a director can be viewed positively as it further aligns the director's financial interests with the long-term performance of the company, potentially encouraging decisions that enhance shareholder value.

Key Dates

Recommendation

This Form 4 reports a routine vesting of restricted stock units for a non-employee director, which is a standard compensation practice and does not provide new fundamental information to alter an investment thesis. It indicates continued alignment of director interests with shareholders but does not warrant a change in investment recommendation based solely on this disclosure.

Keywords

Health Catalyst, HCAT, Duncan Gallagher, Form 4, Restricted Stock Units, RSU, Insider Transaction, Director Compensation, Equity Award, Vesting