Form 4: Health Catalyst COO to Receive 467K RSU Grant

Health Catalyst's President and COO, Benjamin Albert, is set to receive a grant of 467,000 restricted stock units under the company's 2019 incentive plan.

Summary

• Benjamin Albert, President and Chief Operating Officer of Health Catalyst, Inc. (HCAT), will be granted 467,000 restricted stock units (RSUs).
• The transaction date for this RSU acquisition is September 24, 2025, with an acquisition price of $0.00 per unit.
• This grant is made pursuant to the Issuer's 2019 Stock Option and Incentive Plan.
• The RSUs represent a contingent right to receive one share of Health Catalyst's common stock for each unit.
• Following this transaction, Benjamin Albert will beneficially own 577,870 shares of common stock.
• The vesting schedule for these RSUs is as follows: 33.33% will vest on September 10, 2026, and the remaining 66.67% will vest in 8 equal quarterly installments thereafter.
• The transaction is indicated as being made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.

Sentiment

Score: 7

Explanation: The grant of a substantial number of RSUs to a key executive is generally a positive signal, indicating long-term commitment and alignment of management's interests with shareholders. It reflects a standard compensation practice aimed at retention and performance incentives.

Positives

• The significant RSU grant aligns the interests of a key executive, Benjamin Albert, with long-term shareholder value.
• The grant serves as a long-term incentive for the President and COO, potentially encouraging sustained performance and commitment to the company's growth.
• The use of a Rule 10b5-1 plan indicates a pre-planned transaction, demonstrating transparency and adherence to insider trading regulations.

Negatives

• The future vesting of 467,000 RSUs could lead to potential share dilution when converted into common stock, although this is a standard component of equity compensation plans.

Future Outlook

This filing pre-reports a future grant of 467,000 restricted stock units to Benjamin Albert, President and COO, scheduled for September 24, 2025, under a Rule 10b5-1 plan. The RSUs will begin vesting on September 10, 2026, with subsequent quarterly installments, indicating a long-term incentive structure.

Industry Context

The grant of Restricted Stock Units (RSUs) to a senior executive like the President and COO is a common practice in the technology and healthcare sectors for executive compensation. It is designed to align management's long-term interests with those of shareholders by tying a significant portion of compensation to the company's stock performance and continued service.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of executive compensation is a widely adopted practice across various industries, including healthcare technology, aligning executive incentives with long-term company performance.
• The vesting schedule, with an initial cliff followed by quarterly installments, is a standard structure for RSU grants, comparable to practices at companies like Veeva Systems or Cerner (now Oracle Health) for retaining key talent and promoting sustained commitment.

Stakeholder Impact

• Shareholders: Potential for future dilution upon RSU vesting, but also increased alignment of executive interests with long-term stock performance.
• Employees: Reinforces the company's commitment to its 2019 Stock Option and Incentive Plan, potentially boosting morale and demonstrating opportunities for equity participation.

Next Steps

• The 467,000 RSUs are scheduled to be granted on September 24, 2025.
• The first tranche of 33.33% of the RSUs will vest on September 10, 2026.
• The remaining 66.67% of the RSUs will vest in 8 equal quarterly installments following the initial vesting date.

Key Dates

Recommendation

While the RSU grant to a key executive is a positive signal for management alignment and long-term commitment, it is a standard compensation event and does not fundamentally alter the company's operational or financial outlook to warrant a 'buy' or 'sell' recommendation based solely on this filing. Investors should 'hold' and consider this as a factor within a broader investment thesis.

Keywords

HCAT, Health Catalyst, Restricted Stock Units, RSU Grant, Executive Compensation, Insider Transaction, Form 4, Benjamin Albert, 10b5-1 Plan