Form 4: Waystar Holding Corp. CEO Matthew Hawkins Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Waystar Holding Corp.'s CEO, Matthew J. Hawkins, exercised stock options and sold shares of common stock under a pre-arranged 10b5-1 trading plan.
Summary
- On April 10, 2025, Matthew J. Hawkins, CEO of Waystar Holding Corp., executed stock options to acquire 46,667 shares of common stock at a price of $4.14 per share.
- Hawkins then sold 26,546 shares at a weighted average price of $36.0876, with individual transactions ranging from $35.47 to $36.46.
- Additionally, he sold 20,121 shares at a weighted average price of $36.7153, with individual transactions ranging from $36.47 to $37.18.
- These transactions were conducted under a pre-arranged trading plan (Rule 10b5-1) adopted on November 22, 2024.
- Following these transactions, Hawkins directly owns 500,000 shares of Waystar Holding Corp. common stock and 2,469,548 derivative securities.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The document primarily reports factual transactions. The use of a 10b5-1 plan suggests a planned and orderly approach to stock sales, which is generally viewed as a positive governance practice. However, executive stock sales can sometimes create uncertainty among investors.
Positives
- The transactions were executed under a pre-arranged 10b5-1 trading plan, which can mitigate concerns about insider trading.
Risks
- Executive stock sales, even under a 10b5-1 plan, can sometimes be perceived negatively by investors.
Future Outlook
The document does not contain specific forward-looking statements regarding the company's future performance.
Industry Context
Executive stock transactions are common in publicly traded companies, and the use of 10b5-1 plans is a standard practice to allow insiders to sell shares while avoiding accusations of insider trading. The healthcare technology industry, in which Waystar operates, is subject to various market forces that can influence stock valuations.
Comparison to Industry Standards
- Comparing Waystar's executive compensation and stock ownership structure to peers like Veeva Systems, Cerner (now Oracle Health), and athenahealth would provide a benchmark for assessing whether Hawkins' transactions are typical within the industry.
- Reviewing the 10b5-1 trading plans of executives at similar companies can offer insights into the scale and frequency of insider stock sales.
Stakeholder Impact
- Shareholders may react to the news of executive stock sales, although the existence of a 10b5-1 plan can mitigate concerns.
- Employees may be interested in the stock transactions of the CEO as an indicator of company performance and executive confidence.
Key Dates
| Date | Description |
|---|---|
| March 24, 2025 | Date of Power of Attorney execution, authorizing Gregory R. Packer and Steven M. Oreskovich to act on behalf of Matthew J. Hawkins for SEC filings. |
| November 22, 2024 | Date the Reporting Person adopted a plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). |
| April 10, 2025 | Date of the stock option exercise and subsequent stock sales. |
| April 14, 2025 | Date of Form 4 filing. |
Keywords
Waystar Holding Corp., Matthew J. Hawkins, stock options, Form 4, 10b5-1 plan, insider trading, executive compensation, stock sale
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