Form 4: Waystar CEO Matthew Hawkins Executes Stock Options and Sells Shares Under 10b5-1 Plan

Waystar Holding Corp.'s CEO, Matthew J. Hawkins, exercised stock options and sold shares of common stock on March 13, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• On March 13, 2025, Matthew J. Hawkins, CEO of Waystar Holding Corp., exercised stock options to acquire 46,665 shares of common stock at a price of $4.14 per share.
• Hawkins then sold 46,155 shares at a weighted average price of $35.5425, with individual transactions ranging from $35.17 to $36.03.
• An additional 500 shares were sold at a weighted average price of $36.3631, with individual transactions ranging from $36.19 to $36.80.
• These transactions were executed automatically under a 10b5-1 trading plan adopted on November 22, 2024.
• Following these transactions, Hawkins directly owns 500,000 shares of Waystar Holding Corp. common stock and 2,516,215 stock options.

Sentiment

Score: 6

Explanation: Neutral sentiment as the document simply reports transactions under a pre-existing plan. The transactions themselves don't necessarily indicate positive or negative sentiment about the company's future prospects.

Positives

• The transactions were executed under a pre-arranged 10b5-1 trading plan, which is generally viewed as a transparent and compliant way for insiders to manage their stock holdings.

Risks

• Executive stock sales can sometimes be perceived negatively by investors, although the use of a 10b5-1 plan mitigates this concern.

Future Outlook

The document does not contain specific forward-looking statements, but it indicates ongoing transactions under the 10b5-1 plan.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The use of a 10b5-1 plan is a common practice among executives to avoid accusations of insider trading.

Comparison to Industry Standards

• Executive compensation and stock ownership are common metrics tracked across the industry.
• Comparing Hawkins' stock ownership and trading activity to peers in similar healthcare technology companies would provide a benchmark for assessing his alignment with shareholder interests.
• Companies like Veeva Systems, Cerner (now Oracle Health), and athenahealth are relevant comparables for executive compensation and stock ownership analysis.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, depending on market perception of insider selling.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates