Health Catalyst insider files Form 144 to sell 6,175 RSU shares

Rhea-AI Filing Summary

Health Catalyst, Inc. (HCAT) reported a Form 144 notice for an intended sale of 6,175 common shares, with an aggregate market value of $20,377.50, scheduled approximately for 09/05/2025. The shares were acquired as restricted stock units (RSUs) on 09/01/2025 and recorded as paid on the same date. The filing shows there are 70,373,625 shares outstanding for the issuer and names Morgan Stanley Smith Barney LLC as the broker for the proposed sale on NASDAQ. The Form 144 also discloses a recent sale by the same person of 3,138 shares on 09/02/2025 for $10,552.15. The filer represents no undisclosed material adverse information.

Positive

• None.

Negative

• Insider sale disclosed: Proposed sale of 6,175 shares (~$20,377.50) by a person associated with the issuer is planned for 09/05/2025.

Insights

Securities Analyst

TL;DR: Routine insider sale of newly vested RSUs, small relative to outstanding shares; limited market impact.

The filing documents a proposed sale of 6,175 shares acquired as RSUs two days earlier and scheduled for early September 2025. Given the aggregate value (~$20k) versus the issuer's reported 70.4 million shares outstanding, this transaction appears immaterial to the companys capitalization. The use of a major broker and a contemporaneous small sale on 09/02/2025 suggest routine portfolio liquidity rather than event-driven disposal. For investors, the transaction is a disclosure matter rather than an indicator of company fundamentals.

Corporate Governance Expert

TL;DR: Compliance filing shows adherence to Rule 144 requirements; no governance red flags in the notice.

The notice includes required details: acquisition date, nature of acquisition (RSUs), broker, amounts, and a representation about material non-public information. There is no indication of accelerated insider selling, off-market transfers, or reliance on 10b5-1 in the document. As presented, the disclosure meets procedural expectations for insider sales without revealing governance concerns.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	6175	20377.50	70373625	09/05/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/01/2025	Restricted Stock Units	Issuer			6175	09/01/2025	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
BENJAMIN LANDRY 10897 South River Front Parkway, #300 South Jordan UT 84095	Common	09/02/2025	3138	10552.15

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for HCAT disclose?

The Form 144 shows a proposed sale of 6,175 common shares (RSUs) with an aggregate market value of $20,377.50, approximate sale date 09/05/2025, via Morgan Stanley Smith Barney on NASDAQ.

When were the shares acquired that are being sold under the Form 144?

The shares were acquired as Restricted Stock Units on 09/01/2025, with payment recorded on the same date.

Has the seller recently sold other HCAT shares?

Yes. The filing lists a sale on 09/02/2025 of 3,138 shares for gross proceeds of $10,552.15.

How large is this sale relative to HCAT's outstanding shares?

The filing reports 70,373,625 shares outstanding; the proposed 6,175-share sale represents a very small fraction of total shares outstanding.

Does the Form 144 indicate any undisclosed material information?

The signer represents that they do not know of any material adverse information about the issuer that has not been publicly disclosed.