HCA Healthcare's Schlosser exercises stock rights

The EVP and Chief Clinical Officer's reported position includes 6,951 common shares held indirectly by the 2022 Trust and a new award of 2,797 rights.

Available on EDGAR 11/02/2026 - 05:53 PM EST Accepted by SEC EDGAR 11/02/2026 - 05:52 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

HCA Healthcare, Inc. (HCA) EVP and Chief Clinical Officer Michael J. Schlosser exercised stock appreciation rights on October 29, 2026, acquiring 3,030 common shares at $81.96 and 1,898 shares at $82.85. Separately, 2,455 common shares were delivered or withheld for payment of exercise price or tax liability; the reported per-share price was $478.08.

Schlosser received a grant of 2,797 stock appreciation rights with an exercise price of $478.08 and an exercise date of October 29, 2027. A separate entry lists 6,951 common shares held indirectly by the 2022 Trust.

Insider Trade Summary

4,928 shares exercised/converted

Exercise 6 txns

Insider Schlosser Michael J

Role EVP and Chief Clinical Officer

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Right F1	3,030	$0.00	$0.00
Exercise	Stock Appreciation Right F2	1,898	$0.00	$0.00
Grant/Award	Stock Appreciation Right F3	2,797	$0.00	$0.00
Exercise	Common Stock	3,030	$81.96	$248K
Exercise	Common Stock	1,898	$82.85	$157K
Exercise Price or Tax Liability	Common Stock	2,455	$478.08	$1.17M
Holding	Common Stock	--	--	--

Holdings After Transaction: Stock Appreciation Right — 2,797 contracts (Direct); Common Stock — 2,643.1027 shares (Direct); Common Stock — 6,951 shares (Indirect, By 2022 Trust)

Holdings Before and After: Stock Appreciation Right, 4,928 to 2,797 contracts (Direct); Common Stock, 170.1027 to 2,643.1027 shares (Direct)

Footnotes (3)

1. F1. The stock appreciation rights vested in four equal annual installments beginning on February 1, 2018.
2. F2. The stock appreciation rights vested in four equal annual installments beginning on May 3, 2018.
3. F3. The stock appreciation rights vest in four equal annual installments beginning on October 29, 2027.

Key Figures

Stock appreciation rights exercised: 3,030 shares Exercise price: $81.96 per share Stock appreciation rights exercised: 1,898 shares +5 more

8 metrics

Stock appreciation rights exercised 3,030 shares October 29, 2026; exercise price $81.96 per share

Exercise price $81.96 per share 3,030 stock appreciation rights exercised October 29, 2026

Stock appreciation rights exercised 1,898 shares October 29, 2026; exercise price $82.85 per share

Exercise price $82.85 per share 1,898 stock appreciation rights exercised October 29, 2026

Shares delivered or withheld 2,455 shares For payment of exercise price or tax liability on October 29, 2026

Stock appreciation rights granted 2,797 rights Exercise price $478.08 per share; exercise date October 29, 2027

Grant exercise price $478.08 per share 2,797 stock appreciation rights granted October 29, 2026

Indirect common shares held by the 2022 Trust 6,951 shares Holding entry dated October 29, 2026

Key Terms

Stock Appreciation Right, vesting, exercise price

3 terms

Stock Appreciation Right financial

"Stock Appreciation Right"

A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.

vesting financial

"vested in four equal annual installments beginning on October 29, 2018"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

exercise price financial

"exercise price of $478.08"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many HCA shares did Michael J. Schlosser acquire through SAR exercises?

On October 29, 2026, EVP and Chief Clinical Officer Michael J. Schlosser exercised stock appreciation rights and acquired 3,030 common shares at $81.96 and 1,898 common shares at $82.85.

When do Michael J. Schlosser's new HCA stock appreciation rights vest and expire?

The 2,797 rights vest in four equal annual installments beginning October 29, 2027, and expire October 29, 2036.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

Schlosser Michael J

(Last) (First) (Middle)

ONE PARK PLAZA

(Street)

NASHVILLE TENNESSEE 37203

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/29/2026

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

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

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

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
Common Stock	10/29/2026		M		3,030	A	$81.96	3,200.1027	D
Common Stock	10/29/2026		M		1,898	A	$82.85	5,098.1027	D
Common Stock	10/29/2026		F		2,455	D	$478.08	2,643.1027	D
Common Stock								6,951	I	By 2022 Trust

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	$81.96	10/29/2026		M			3,030	(1)	02/01/2027	Common Stock	3,030	$0.00	0	D
Stock Appreciation Right	$82.85	10/29/2026		M			1,898	(2)	05/03/2027	Common Stock	1,898	$0.00	0	D
Stock Appreciation Right	$478.08	10/29/2026		A		2,797		10/29/2027(3)	10/29/2036	Common Stock	2,797	$0.00	2,797	D

Explanation of Responses:

1. The stock appreciation rights vested in four equal annual installments beginning on February 1, 2018.

2. The stock appreciation rights vested in four equal annual installments beginning on May 3, 2018.

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

	/s/ Kevin A. Ball, Attorney-in-Fact	11/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)