Form 4: Waystar CFO Steven Oreskovich Reports Stock and Options Grants

Waystar Holding Corp.'s Chief Financial Officer, Steven M. Oreskovich, reported the acquisition of restricted stock units and stock options.

Summary

• Steven M. Oreskovich, CFO of Waystar Holding Corp., filed a Form 4 detailing changes in beneficial ownership.
• On June 10, 2024, Oreskovich acquired 152,173 shares of Common Stock through a grant of restricted stock units (RSUs) at a price of $0.
• These RSUs vest in five substantially equal annual installments starting June 6, 2025, and each RSU represents the right to receive one share of Common Stock upon settlement.
• As of June 10, 2024, Oreskovich beneficially owns 173,642 shares of Common Stock, including unvested RSUs.
• On May 1, 2024, Oreskovich was granted options to purchase 38,115 shares of Common Stock at an exercise price of $37.2, vesting in three equal annual installments commencing May 1, 2025.
• On June 6, 2024, Oreskovich was granted options to purchase 380,434 shares of Common Stock at an exercise price of $21.5, vesting in five equal annual installments commencing June 6, 2025.
• These options expire on May 1, 2034, and June 6, 2034, respectively.
• The filing reflects a 0.605-for-1 reverse stock split effective May 15, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The grants are a standard part of executive compensation and suggest confidence in the company's future performance. There are no explicitly negative indicators.

Positives

• The grant of RSUs and stock options to the CFO could be seen as an incentive to align his interests with those of the shareholders.
• The vesting schedules for the RSUs and stock options encourage long-term commitment from the CFO.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedules of the RSUs and stock options.

Industry Context

Stock option and RSU grants are common compensation practices for executives in publicly traded companies, particularly in the technology and healthcare sectors. These grants are designed to align management's interests with those of shareholders and incentivize long-term value creation.

Comparison to Industry Standards

• Companies like Veeva Systems and Cerner (now Oracle Health) also utilize stock options and RSUs as part of their executive compensation packages.
• The vesting schedules and grant sizes are generally comparable to industry standards for CFO-level executives in similarly sized companies.
• The specific terms of the grants, such as the exercise price and vesting period, are tailored to Waystar's specific circumstances and strategic goals.

Stakeholder Impact

• Shareholders may view the grants as a positive sign of incentivizing management to increase company value.
• Employees may see the grants as a sign of the company's commitment to its leadership team.

Key Dates