Form 4: Health Catalyst Director Acquires Shares Through RSU Vesting

Health Catalyst Director Duncan Gallagher acquired 4,970 shares of common stock through the vesting of restricted stock units on September 1, 2025.

Summary

• Duncan Gallagher, a Director at Health Catalyst, Inc. (HCAT), acquired 4,970 shares of the company's common stock.
• This acquisition resulted from the vesting of restricted stock units (RSUs) granted pursuant to the Issuer's 2019 Stock Option and Incentive Plan.
• The RSUs vested 100% on September 1, 2025, in accordance with the terms of the Issuer's Non-Employee Director Compensation Policy.
• Following this transaction, Mr. Gallagher directly beneficially owns 118,252 shares of common stock.

Sentiment

Score: 6

Explanation: The filing reports a routine, pre-scheduled RSU vesting for a director, which is a neutral to slightly positive event as it increases insider ownership and aligns interests. No new significant positive or negative information is presented.

Positives

• Increased alignment of Director Duncan Gallagher's interests with those of shareholders through additional equity ownership.
• The vesting of RSUs is a standard component of director compensation, indicating adherence to established compensation policies.

Future Outlook

The filing indicates a future event, the vesting of RSUs on September 1, 2025, which was a pre-scheduled event under the company's compensation plan.

Industry Context

This is a routine insider transaction related to director compensation, common across all industries for publicly traded companies. It does not reflect broader industry trends.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) for director compensation is a common practice among publicly traded companies, aligning director incentives with shareholder value.
• The 2019 Stock Option and Incentive Plan and Non-Employee Director Compensation Policy are standard mechanisms for equity compensation, comparable to plans at companies like Cerner (now Oracle Health) or Allscripts in the healthcare IT sector.

Stakeholder Impact

• Shareholders: Increased alignment of a director's interests with shareholders due to higher equity ownership.

Key Dates

Recommendation

This Form 4 filing reports a routine, pre-scheduled vesting of restricted stock units for a director, which is a standard component of executive and director compensation. While it increases insider ownership, it does not provide new material information that would significantly alter the investment thesis for Health Catalyst, Inc. Therefore, a 'hold' recommendation is appropriate as this event is already factored into the company's operational and governance structure.

Keywords

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