Form 4: Health Catalyst Director Jill Hoggard Green Awarded Over 36,000 Restricted Stock Units

Health Catalyst, Inc. Director Jill Hoggard Green was granted 36,231 restricted stock units, increasing her direct beneficial ownership to 63,937 shares.

Summary

• Jill Hoggard Green, a Director of Health Catalyst, Inc. (HCAT), was granted 36,231 shares of common stock in the form of Restricted Stock Units (RSUs).
• The transaction date for this acquisition was July 9, 2025.
• The RSUs were granted at a price of $0.00 per share, indicating they are part of an equity compensation plan.
• Following this transaction, Jill Hoggard Green's direct beneficial ownership in Health Catalyst, Inc. increased to 63,937 shares of common stock.
• The RSUs are subject to vesting, which will occur on the earlier of the one-year anniversary of the grant date or the date of the next Annual Meeting of the Issuer's Stockholders, pursuant to the 2019 Stock Option and Incentive Plan.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading strategy.

Sentiment

Score: 7

Explanation: The document reports a standard equity grant to a director, which is generally a positive sign of alignment between management and shareholder interests, but does not contain significant new operational or financial news to warrant a higher score. It's a routine corporate governance item.

Positives

• The grant of 36,231 Restricted Stock Units to a director aligns management incentives with shareholder interests.
• The increase in direct beneficial ownership to 63,937 shares by a director demonstrates continued commitment to the company.

Future Outlook

The RSUs granted will vest on the earlier of the one-year anniversary of the grant date (July 9, 2026) or the date of the next Annual Meeting of the Issuer's Stockholders, aligning future compensation with company performance and continued service.

Industry Context

Equity grants to directors are a common practice in the healthcare technology industry, used to attract and retain talent, and align the interests of directors with those of shareholders. This specific grant is consistent with standard corporate governance practices for publicly traded companies.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) at a $0.00 price is a standard form of equity compensation for directors in the technology and healthcare sectors, similar to practices at companies like Veeva Systems (VEEV) or Oracle Health (formerly Cerner).
• Vesting schedules tied to service (one-year anniversary) or corporate events (next Annual Meeting) are typical for director RSU awards, ensuring continued commitment and retention.
• The use of a Rule 10b5-1 plan for the transaction is a common practice for insiders to manage stock transactions in compliance with insider trading regulations, enhancing transparency and reducing potential for accusations of opportunistic trading.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant of RSUs to a director aligns their interests with shareholders, as the value of the RSUs is tied to the company's stock performance. It can be seen as a positive signal of director commitment.

Next Steps

• The 36,231 Restricted Stock Units will vest on the earlier of July 9, 2026 (one-year anniversary of grant date) or the date of Health Catalyst's next Annual Meeting of Stockholders.

Key Dates

Recommendation

Keywords

Health Catalyst, HCAT, Restricted Stock Units, RSU, Insider Transaction, Form 4, Equity Compensation, Director Compensation, Stock Grant, Corporate Governance