Form 4: CPPIB Sells Waystar Shares in Secondary Offering
Insider Transaction Report
Canada Pension Plan Investment Board (CPPIB) sold 5,938,773 shares of Waystar Holding Corp. common stock at $39.21 per share in a secondary offering.
Summary
- Canada Pension Plan Investment Board (CPPIB), through its wholly-owned subsidiary CPP Investment Board Private Holdings (4) Inc., disposed of 5,938,773 shares of Waystar Holding Corp. common stock.
- The transaction occurred on September 12, 2025, as part of a secondary offering.
- The shares were sold at a price of $39.21 per share.
- Following this transaction, CPPIB, through its subsidiary, beneficially owns 19,025,452 shares of Waystar Holding Corp. common stock.
- CPPIB and its subsidiary are identified as a 10% owner and have a director relationship with Waystar Holding Corp.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of an insider transaction and does not inherently convey positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
The filing does not contain any forward-looking statements or guidance.
Management Comments
- Pierre Abinakle, Managing Director, Head of Compliance for Canada Pension Plan Investment Board, signed the filing.
- Pierre Abinakle, Director for CPP Investment Board Private Holdings (4) Inc., signed the filing.
Industry Context
This Form 4 filing reports a significant insider transaction by a major institutional investor in Waystar Holding Corp., a healthcare technology company. Such transactions can be observed by the market for insights into investor sentiment, but the filing itself does not provide broader industry context.
Related Party Transactions
- Canada Pension Plan Investment Board (CPPIB), a 10% owner and entity with a director relationship to Waystar Holding Corp., sold a significant block of shares.
Stakeholder Impact
- Shareholders: The sale by a major institutional investor and 10% owner could influence market perception and liquidity of Waystar's stock.
- CPPIB: Reduced its beneficial ownership stake in Waystar Holding Corp.
Key Dates
| Date | Description |
|---|---|
| 09/12/2025 | Date of the secondary offering transaction where shares were sold. |
| 09/16/2025 | Date the Form 4 filing was signed by Pierre Abinakle on behalf of CPPIB and its subsidiary. |
Keywords
Waystar Holding Corp., CPPIB, Canada Pension Plan Investment Board, Secondary Offering, Stock Sale, Insider Transaction, Form 4, Beneficial Ownership
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