Health Catalyst (HCAT) Form 3 shows executive RSUs and trust holdings
Rhea-AI Filing Summary
Albert Benjamin filed an initial Form 3 reporting his beneficial ownership in Health Catalyst, Inc. (HCAT). He directly holds 92,870 common shares and 18,000 restricted stock units (RSUs) granted under the 2019 Plan that vest beginning March 1, 2026. He also reports indirect holdings of 148,198 shares via the "Benjamin Albert Declaration of Trust" and 28,697 shares via the "Albert Family Trust." The filing is signed by an attorney-in-fact on 09/26/2025.
Positive
- Clear disclosure of direct and indirect holdings including RSUs and trust holdings
- RSU vesting schedule is specified (25% on March 1, 2026; remaining in 12 quarterly installments), providing transparency on future share issuance timing
Negative
- None.
Insights
TL;DR: Reporting discloses executive ownership with vested and unvested equity, aligning management compensation with shareholder outcomes.
The Form 3 shows a mix of direct shares and trust-held indirect shares plus RSUs subject to vesting under the 2019 Plan. The RSU vesting schedule (25% on March 1, 2026, then quarterly) indicates future share issuance timing that may modestly increase diluted share count. Holdings by family trusts are disclosed, which is common for estate planning and does not signal a change in control.
TL;DR: Routine initial ownership disclosure consistent with Section 16 reporting requirements; no governance red flags apparent.
The filing identifies the reporting person as President and COO and discloses trustee relationships for two trusts. The declaration that the reporting person serves as trustee and beneficiaries include immediate family is clearly stated. Signature by attorney-in-fact is noted. There are no amendments or unusual arrangements disclosed.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents an award of restricted stock units ("RSUs") granted pursuant to the Issuer's 2019 Stock Option and Incentive Plan (the "2019 Plan"). Each RSU represents a contingent right to receive one share of the Issuer's common stock. Subject to the terms of the 2019 Plan, 25% of the RSUs will vest on March 1, 2026 and the remaining 75% of the RSUs vested or will vest in 12 equal quarterly installments. The Reporting Person serves as the trustee of this trust, of which the Reporting Person's wife and children are beneficiaries. Held by a family trust of which (a) the Reporting Person and sibling are trustees and (b) the Reporting Person and members of his immediate family are the sole beneficiaries of the trust.
