Form 4: Waystar CEO Matthew Hawkins Executes Stock Options and Sells Shares

Waystar Holding Corp. CEO Matthew J. Hawkins exercised stock options and sold a portion of the acquired shares on May 13, 2025, according to a recent SEC filing.

Summary

• On May 13, 2025, Matthew J. Hawkins, CEO of Waystar Holding Corp., exercised stock options to acquire 46,667 shares of common stock at a price of $4.14 per share.
• Following the exercise of these options, Hawkins sold 43,963 shares at a weighted average price of $38.9408, with individual transactions ranging from $38.41 to $39.40.
• He also sold an additional 2,704 shares at a weighted average price of $39.4609, with individual transactions ranging from $39.41 to $39.68.
• These transactions were executed automatically pursuant to a pre-arranged trading plan adopted on November 22, 2024, under Rule 10b5-1(c).
• After these transactions, Hawkins directly owns 764,131 shares of Waystar Holding Corp. common stock.
• Hawkins also indirectly owns 500,000 shares via a 2024 grantor retained annuity trust and 250,000 shares via a 2025 grantor retained annuity trust.
• He continues to hold 1,672,881 stock options that are currently vested.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The transactions are part of a pre-planned strategy, so they don't necessarily indicate a positive or negative outlook on the company's future.

Positives

• The transactions were executed under a pre-arranged trading plan, suggesting they were not based on insider information at the time of the trades.

Negatives

• The CEO selling shares, even under a pre-arranged plan, could be perceived negatively by some investors.

Risks

• Executive stock sales can sometimes signal a lack of confidence in the company's future performance, although this is mitigated by the pre-arranged trading plan.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies. Investors often monitor these transactions for insights into management's perspective on the company's valuation and future prospects. The use of a pre-arranged trading plan provides some transparency and reduces the likelihood of trading on inside information.

Comparison to Industry Standards

• Executive compensation packages often include stock options as a way to align management's interests with those of shareholders.
• Rule 10b5-1 trading plans are a common tool used by executives to diversify their holdings while avoiding accusations of insider trading.
• The size and frequency of executive stock sales can vary widely depending on the company's size, industry, and compensation policies.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating downward pressure on the stock price in the short term.
• The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Waystar Holding Corp., Matthew J. Hawkins, stock options, SEC Form 4, insider trading, Rule 10b5-1, stock sale, CEO