Form 4: Waystar Director Michael F. Roman Granted 5,134 Restricted Stock Units

Waystar Holding Corp. Director Michael F. Roman was granted 5,134 shares of common stock in the form of restricted stock units (RSUs) on June 16, 2025, as part of his compensation.

Summary

• Michael F. Roman, a Director of Waystar Holding Corp. (WAY), acquired 5,134 shares of common stock on June 16, 2025.
• The acquisition was a grant of Restricted Stock Units (RSUs), with an acquisition price of $0 per share, indicating a non-cash compensation grant.
• Each RSU represents a contingent right to receive one share of Common Stock upon settlement.
• The RSUs are scheduled to vest on the earlier of (i) June 4, 2026, or (ii) the first regularly scheduled annual meeting of the stockholders following the grant date.
• Following this transaction, Michael F. Roman beneficially owns 5,134 shares of Waystar Holding Corp. common stock, which includes these unvested RSUs.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as the RSU grant aligns the director's interests with shareholders, which is generally viewed favorably. However, it's a routine compensation event and not indicative of significant operational or financial news.

Positives

• The grant of Restricted Stock Units (RSUs) to a director aligns management's interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• Equity compensation is a common practice for retaining and incentivizing key personnel, including directors.

Future Outlook

The document indicates future vesting of the granted Restricted Stock Units, with the earliest vesting date being June 4, 2026, or the date of the first regularly scheduled annual meeting of stockholders following the grant date.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically an equity grant to a director. Such grants are standard practice across various industries for executive and director compensation, aiming to align their financial interests with long-term shareholder value.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) as part of director compensation is a common and widely accepted practice across publicly traded companies, including those in the healthcare technology and financial services sectors where Waystar operates.
• The vesting schedule, which includes a specific date (June 4, 2026) or the next annual meeting, is typical for time-based equity awards designed to retain directors and incentivize long-term commitment.
• The acquisition price of $0 for RSUs is standard, as these are compensatory grants rather than open market purchases.

Related Party Transactions

• The grant of Restricted Stock Units to Michael F. Roman, a Director of Waystar Holding Corp., constitutes a transaction with a related party (an insider). This is a standard form of compensation and is disclosed as required by SEC regulations.

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's financial interests with the long-term performance of the company, potentially benefiting shareholders through improved governance and strategic decisions.
• Employees: While not directly impacting general employees, such compensation practices for leadership can set a precedent for equity-based incentives within the company.

Next Steps

• The granted Restricted Stock Units (RSUs) will vest on the earlier of June 4, 2026, or the first regularly scheduled annual meeting of stockholders following the grant date.

Key Dates

Keywords

Waystar Holding Corp., WAY, SEC Form 4, Restricted Stock Units, RSU, Equity Grant, Insider Transaction, Director Compensation, Stock Ownership