Form 4: Health Catalyst Director Julie Larson-Green Receives Equity Grant

Health Catalyst Director Julie Larson-Green was granted 5,731 restricted stock units, vesting on December 1, 2025, increasing her beneficial ownership to 121,570 shares.

Summary

• Julie Larson-Green, a Director at Health Catalyst, Inc. (HCAT), acquired 5,731 shares of common stock through a restricted stock unit (RSU) grant.
• The RSUs were granted pursuant to the Issuer's 2019 Stock Option and Incentive Plan and in accordance with the Non-Employee Director Compensation Policy.
• Each RSU represents a contingent right to receive one share of the Issuer's common stock.
• The RSUs vested 100% on December 1, 2025, at a price of $0.00 per share.
• Following this transaction, Julie Larson-Green's beneficial ownership of Health Catalyst common stock stands at 121,570 shares.

Sentiment

Score: 6

Explanation: This is a routine insider transaction reporting an equity grant to a director, which is generally viewed as a neutral to slightly positive event as it aligns director interests with shareholders. It does not indicate any significant operational or financial changes.

Positives

• The equity grant aligns the director's financial interests with those of the shareholders, promoting long-term value creation.
• The transaction is part of a pre-established compensation policy, indicating a structured approach to director remuneration.

Future Outlook

The filing indicates the future vesting of restricted stock units on December 1, 2025, as part of a pre-determined compensation structure.

Industry Context

Equity grants to non-employee directors are a common practice across industries, particularly in technology and healthcare, to attract and retain qualified board members and align their interests with long-term company performance.

Comparison to Industry Standards

• The grant of restricted stock units as part of director compensation is a standard practice, comparable to compensation structures seen in many publicly traded technology and healthcare companies.
• The use of a formal stock option and incentive plan (2019 Plan) and a non-employee director compensation policy reflects established corporate governance practices, similar to those at peers like Veeva Systems or Cerner (now Oracle Health).

Corporate Governance

Related Party Transactions

• The grant of restricted stock units to a director constitutes a related party transaction, executed under the company's established Non-Employee Director Compensation Policy.

Stakeholder Impact

• Shareholders: The equity grant aligns the director's long-term interests with those of the shareholders, potentially fostering decisions that enhance shareholder value.

Next Steps

• The shares underlying the restricted stock units will be delivered to the director following the vesting on December 1, 2025.

Key Dates

Recommendation

This Form 4 reports a routine equity grant to a director as part of their compensation, which is a standard practice to align management and director interests with shareholders. It does not provide new information that would alter the fundamental investment thesis for Health Catalyst, Inc., hence a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Health Catalyst, HCAT, Julie Larson-Green, Form 4, SEC filing, restricted stock units, RSU, director compensation, equity grant, insider transaction, corporate governance