Form 4: Waystar CFO Sells Over 16,000 Shares Under Pre-Arranged Trading Plan

Waystar Holding Corp.'s Chief Financial Officer, Steven M. Oreskovich, sold 16,396 shares of common stock for approximately $40.71 per share on June 11, 2025, as part of a pre-scheduled Rule 10b5-1 trading plan.

Summary

• Steven M. Oreskovich, Chief Financial Officer of Waystar Holding Corp., reported the sale of common stock.
• The transaction involved the disposition of 16,396 shares of Waystar Holding Corp. common stock.
• The shares were sold on June 11, 2025, at a weighted average price of $40.7105 per share, with individual transactions ranging from $40.48 to $40.99.
• The sale was executed automatically pursuant to a Rule 10b5-1 trading plan adopted by Mr. Oreskovich on September 6, 2024.
• Following this transaction, Mr. Oreskovich beneficially owns 368,550 shares of Waystar Holding Corp. common stock, which includes unvested Restricted Stock Units (RSUs).

Sentiment

Score: 5

Explanation: Neutral. A Form 4 filing for a pre-planned insider sale is a routine disclosure and typically does not carry strong positive or negative sentiment unless the sale is unusually large or deviates from a pattern.

Positives

• The sale was conducted under a Rule 10b5-1 plan, indicating a pre-scheduled transaction not based on immediate, non-public insider information, which is a standard practice for executives managing their equity holdings.

Negatives

• An insider sale, even if pre-planned, reduces the insider's direct equity stake in the company, which can sometimes be perceived with slight caution by the market.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The filing notes that the transactions occurred automatically pursuant to a plan adopted by the Reporting Person on September 6, 2024, which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Industry Context

This specific Form 4 filing, detailing an insider stock sale, is a routine disclosure required by the SEC. It does not provide broader industry context or trends, but rather reflects an individual executive's pre-planned equity management.

Comparison to Industry Standards

• This document is a standard insider transaction report (Form 4) and does not contain information that allows for a direct comparison to industry-specific financial or operational benchmarks.
• Insider sales are common across all industries, and the use of a Rule 10b5-1 plan is a standard practice for executives to manage their equity holdings in compliance with insider trading regulations, similar to practices observed at companies like Microsoft, Apple, or Google where executives frequently sell shares under pre-arranged plans.

Stakeholder Impact

• Shareholders: The sale by a key executive might be viewed with slight caution, though the Rule 10b5-1 plan mitigates concerns about opportunistic selling. It represents a minor reduction in insider ownership.

Key Dates

Keywords

Waystar Holding Corp., WAY, Form 4, Insider Trading, Stock Sale, CFO, Steven M. Oreskovich, Rule 10b5-1 Plan, Equity Transaction