HCA (HCA) EVP Cuffe awarded 8,067 stock appreciation rights at $482.53

Rhea-AI Filing Summary

HCA Healthcare EVP and Chief Clinical Officer Michael S. Cuffe received a grant of 8,067 stock appreciation rights on January 29, 2026. Each right has an exercise price of $482.53 and is settled in HCA common stock.

The stock appreciation rights vest in four equal annual installments beginning on January 29, 2027, and expire on January 29, 2036. Following this grant, Cuffe beneficially owns 8,067 derivative securities directly related to HCA common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Cuffe Michael S.

Role EVP and Chief Clinical Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Appreciation Right	8,067	$0.00	--

Holdings After Transaction: Stock Appreciation Right — 8,067 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cuffe Michael S.

(Last) (First) (Middle)

ONE PARK PLAZA

(Street)

NASHVILLE TN 37203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HCA Healthcare, Inc. [ HCA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Chief Clinical Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Right	$482.53	01/29/2026		A		8,067		01/29/2027(1)	01/29/2036	Common Stock	8,067	$0	8,067	D

Explanation of Responses:

1. The stock appreciation rights vest in four equal annual installments beginning on January 29, 2027.

	/s/ Kevin A. Ball, Attorney-in-Fact	02/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did HCA (HCA) EVP Michael Cuffe receive in this Form 4 filing?

HCA Healthcare EVP and Chief Clinical Officer Michael S. Cuffe received 8,067 stock appreciation rights. These derivative awards are tied to HCA common stock and were granted on January 29, 2026, at an exercise price of $482.53 per right.

When do Michael Cuffe’s HCA stock appreciation rights start vesting?

The stock appreciation rights begin vesting on January 29, 2027. They vest in four equal annual installments, meaning the grant becomes fully vested over four years, aligning long-term incentives with HCA Healthcare’s ongoing performance.

How many HCA stock appreciation rights does Michael Cuffe hold after this transaction?

After this grant, Michael Cuffe beneficially owns 8,067 stock appreciation rights. The filing shows all 8,067 derivative securities are held directly and relate to HCA Healthcare common stock under this long-term incentive award.

What is the exercise price and expiration date of the HCA stock appreciation rights?

Each stock appreciation right has an exercise price of $482.53 and expires on January 29, 2036. This long-dated expiration gives a multi-year period during which value can be realized if HCA’s stock performs well.

How are Michael Cuffe’s HCA stock appreciation rights settled?

The stock appreciation rights are settled in HCA common stock. Upon exercise, the value realized is based on the appreciation of HCA’s share price above the $482.53 exercise price, delivered as HCA common shares, rather than cash.

Is Michael Cuffe’s ownership in this HCA filing direct or indirect?

The filing reports that Michael Cuffe’s 8,067 stock appreciation rights are held directly. There is no indication of indirect ownership through trusts, partnerships, or other entities in the disclosed ownership details or the accompanying footnote.