Form 4: Waystar CTO Executes Option Exercise and Share Sale Under Pre-Arranged Trading Plan

Waystar Holding Corp.'s Chief Technology Officer, Christopher L. Schremser, exercised stock options and subsequently sold 8,623 shares of common stock for a weighted average price of $37.6275 per share, as part of a Rule 10b5-1 trading plan.

Summary

• Christopher L. Schremser, Chief Technology Officer of Waystar Holding Corp. (WAY), reported transactions involving the company's common stock.
• On July 10, 2025, Schremser acquired 8,623 shares of common stock by exercising stock options at an exercise price of $4.14 per share. These options were previously vested.
• Concurrently, on July 10, 2025, Schremser disposed of 8,623 shares of common stock at a weighted average price of $37.6275 per share. The sales occurred in multiple transactions ranging from $37.2100 to $37.9900.
• Both transactions were executed automatically pursuant to a Rule 10b5-1(c) plan adopted by Schremser on December 6, 2024.
• Following these transactions, Schremser beneficially owns 438,044 shares of common stock and 112,109 stock options.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. It reflects a routine insider transaction under a pre-arranged plan, which is a common and often profitable event for the executive, without indicating any negative implications for the company's operations or prospects.

Positives

• The Chief Technology Officer executed a profitable transaction by exercising stock options at $4.14 and selling the shares at a significantly higher weighted average price of $37.6275.
• The transactions were conducted under a pre-arranged Rule 10b5-1 plan, indicating a systematic and pre-planned approach to managing equity compensation rather than a reaction to immediate market conditions.

Negatives

• The sale of shares by a key executive, even under a 10b5-1 plan, represents a reduction in their direct equity stake, which some investors might interpret as a slight decrease in alignment with shareholder interests, though it is a common practice for liquidity and diversification.

Risks

• No specific risks are detailed in this Form 4 filing, as it primarily reports an insider transaction rather than company-specific operational or financial risks.

Future Outlook

This Form 4 filing reports an individual insider transaction and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing is a routine disclosure of an insider stock transaction and does not provide information relevant to broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders: The transaction is a routine insider sale under a 10b5-1 plan, which typically has minimal direct impact on the broader shareholder base. It represents a small reduction in the CTO's direct equity holdings.

Key Dates

Keywords

Waystar Holding Corp., WAY, Form 4, SEC filing, insider transaction, stock options, Chief Technology Officer, Christopher L. Schremser, Rule 10b5-1, equity compensation, common stock