Form 4: Health Catalyst Executive Sells Shares to Cover Tax Obligations and Planned Sale
SEC Form 4
A Health Catalyst executive sold shares to cover tax obligations from vesting restricted stock units and also executed a planned sale under a pre-arranged trading plan.
Summary
- Kevin Lee Freeman, Chief Commercial Officer of Health Catalyst, Inc., sold 11,431 shares of common stock on December 1, 2024, at a price of $8.9732 per share to cover tax obligations related to vesting restricted stock units.
- Additionally, Mr. Freeman sold 7,500 shares on December 2, 2024, at a price of $8.9431 per share as part of a pre-arranged trading plan adopted on March 12, 2024.
- Following these transactions, Mr. Freeman beneficially owns 236,950 shares of Health Catalyst common stock.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and pre-planned sales, with no indication of positive or negative sentiment.
Industry Context
Executive stock sales are a common occurrence and are often part of compensation packages or pre-arranged trading plans. This activity is typical for executives at publicly traded companies.
Comparison to Industry Standards
- Executive stock sales are a common practice across the industry, with many executives using 10b5-1 plans to manage their sales.
- The sale of shares to cover tax obligations is also a standard practice when restricted stock units vest.
- Companies like Cerner (now Oracle Health) and Allscripts (now Veradigm) also see similar patterns of executive stock transactions.
Stakeholder Impact
- The stock sales may have a minor impact on the stock price, but are unlikely to significantly affect shareholders due to the routine nature of the transactions.
Key Dates
| Date | Description |
|---|---|
| 2024-03-12 | Date the trading plan was adopted by the reporting person. |
| 2024-12-01 | Date of the first stock sale to cover tax obligations. |
| 2024-12-02 | Date of the second stock sale under the trading plan. |
| 2024-12-03 | Date of the filing of the Form 4. |
Keywords
Health Catalyst, HCAT, insider trading, stock sale, executive, Rule 10b5-1, tax obligations, restricted stock units
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