Form 4: Waystar Holding Corp. Executive Matthew Heiman Reports Stock and Option Grants

Matthew Heiman, Chief Legal & Administrative Officer of Waystar Holding Corp., reports the acquisition of restricted stock units and stock options.

Summary

• On June 12, 2024, Matthew Heiman, Chief Legal & Administrative Officer of Waystar Holding Corp., filed a Form 4.
• The filing reports the grant of 86,956 restricted stock units (RSUs) on June 10, 2024, which vest in five equal annual installments starting June 6, 2025.
• Each RSU represents the right to receive one share of Waystar common stock upon settlement.
• Heiman also reports the grant of options to purchase 30,250 shares of common stock at an exercise price of $37.20 on May 1, 2024, vesting in three equal annual installments commencing May 1, 2025.
• Additionally, options to purchase 217,391 shares of common stock at an exercise price of $21.50 were granted on June 6, 2024, vesting in five equal annual installments commencing June 6, 2025.
• The filing reflects a 0.605-for-1 reverse stock split that became effective on May 15, 2024.
• Following these transactions, Heiman directly owns 86,956 shares of common stock, including unvested RSUs, and options to purchase 247,641 shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of executive compensation. The grants themselves are a positive sign of aligning interests, but the filing is simply a procedural requirement.

Positives

• The grant of RSUs and stock options to a key executive aligns their interests with the long-term performance of the company.
• The vesting schedules encourage continued service and commitment from the executive.

Future Outlook

The executive's holdings will increase as the RSUs and stock options vest over the coming years, contingent on continued employment.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.

Comparison to Industry Standards

• Executive compensation packages, including stock options and RSUs, are common in publicly traded companies to incentivize performance and align executive interests with shareholder value.
• Vesting schedules are typically structured to encourage long-term commitment and retention of key personnel.
• The specific terms of the grants (number of shares, exercise price, vesting schedule) would need to be compared to industry benchmarks and peer group data to assess their competitiveness and appropriateness.

Stakeholder Impact

• Shareholders may view the grants as a positive sign of aligning management's interests with long-term company performance.
• Employees may see the grants as a sign of the company's commitment to rewarding key personnel.

Key Dates