Form 4: Health Catalyst Director Receives Significant Equity Grant

Health Catalyst, Inc. Director Duncan Gallagher was granted 36,231 restricted stock units, increasing his beneficial ownership to 113,282 shares.

Summary

• Duncan Gallagher, a Director of Health Catalyst, Inc. (HCAT), was granted 36,231 shares of common stock on July 9, 2025.
• The shares were awarded as Restricted Stock Units (RSUs) under the Issuer's 2019 Stock Option and Incentive Plan, with each RSU representing a contingent right to receive one share of common stock.
• The RSUs will fully vest 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.
• Following this transaction, Duncan Gallagher beneficially owns a total of 113,282 shares of Health Catalyst common stock.

Sentiment

Score: 7

Explanation: The grant of RSUs to a director is a positive sign of alignment between management and shareholder interests, and a standard compensation practice. It does not indicate any negative operational or financial issues.

Positives

• The grant of 36,231 restricted stock units to a director aligns management incentives with shareholder interests.
• The award is part of the company's 2019 Stock Option and Incentive Plan, indicating a structured approach to executive and director compensation.

Future Outlook

The Restricted Stock Units granted are subject to future vesting, which will occur 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 the director's future compensation with company performance.

Industry Context

This transaction is a routine insider equity grant, common across industries for executive and director compensation, aiming to align their interests with long-term shareholder value. It does not provide specific insights into broader industry trends for healthcare technology beyond standard compensation practices.

Comparison to Industry Standards

• Equity grants to directors are a standard practice in publicly traded companies, including those in the healthcare technology sector, to incentivize long-term commitment and performance.
• The vesting schedule (one-year anniversary or next annual meeting) is a common approach for director RSU grants, similar to practices observed at companies like Veeva Systems (VEEV) or Cerner (now Oracle Health), which also use equity to compensate and retain key personnel.
• The grant price of $0.00 is typical for RSU awards, reflecting a compensation component rather than a direct stock purchase.

Stakeholder Impact

• Shareholders: The grant aligns the director's interests with long-term shareholder value creation.
• Employees: May signal the company's commitment to equity-based compensation plans for key personnel.

Next Steps

• The RSUs granted to Duncan Gallagher will vest on the earlier of July 9, 2026, or the date of Health Catalyst's next Annual Meeting of Stockholders.

Key Dates

Keywords

Health Catalyst, HCAT, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU, Equity Grant, Director Compensation, Stock Option and Incentive Plan