Health Catalyst officer reports RSU sell-to-cover; retains 204,219 shares

Rhea-AI Filing Summary

Ross David Coy, Chief Technology & Product Officer of Health Catalyst, Inc. (HCAT), reported a non-discretionary sale of 3,360 shares of common stock on 09/02/2025 at an average price of $3.3627 per share. The filing states the sale was a sell-to-cover transaction to satisfy tax withholding obligations tied to vesting restricted stock units and was not a discretionary trade. After the transaction the reporting person beneficially owns 204,219 shares, held directly. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 09/04/2025.

Positive

• Form discloses the sale was a sell-to-cover tied to RSU tax withholding, clarifying the transaction was non-discretionary
• Reporting shows continued substantial ownership: 204,219 shares remain beneficially owned directly

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine sell-to-cover for RSU tax withholding; minimal market impact and reflects compensation vesting, not a directional sell.

The transaction is explicitly described as a mandated sell-to-cover tied to tax withholding on vested restricted stock units, indicating it is part of routine equity compensation administration rather than an active disposition decision by the insider. The volume of 3,360 shares relative to the reporting person's remaining direct holdings of 204,219 shares suggests the trade is immaterial to ownership concentration and unlikely to influence HCAT's market price.

Corporate Governance Expert

TL;DR: Proper disclosure of a non-discretionary tax-related sale; governance procedures appear followed.

The Form 4 discloses the relationship (Officer) and the nature of the sale (sell-to-cover for RSU withholding). The filing by a single reporting person and signature by an attorney-in-fact indicate administrative compliance with Section 16 reporting requirements. No evidence in the filing of trading pursuant to a 10b5-1 plan or other discretionary transactions.

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^*

Ross David Coy

(Last) (First) (Middle)

C/O HEALTH CATALYST, INC.

10897 SOUTH RIVER FRONT PARKWAY #300

(Street)

SOUTH JORDAN UT 84095

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Health Catalyst, Inc. [ HCAT ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Tech & Product Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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
Common Stock	09/02/2025		F(1)		3,360	D	$3.3627	204,219	D

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

Explanation of Responses:

1. Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Issuer's Restricted Stock Units. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.

Remarks:

	/s/ Benjamin Landry, as Attorney-in-Fact	09/04/2025
	** 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 HCAT insider Ross David Coy report on Form 4?

The filing reports a sell-to-cover sale of 3,360 shares on 09/02/2025 at $3.3627 per share to satisfy tax withholding from vested RSUs.

Is the sale by Ross Coy a discretionary trade or part of an equity plan?

The filing states the sale was mandated by the issuer's election to fund tax withholding for vested restricted stock units and does not represent a discretionary trade.

How many HCAT shares does Ross Coy own after the reported transaction?

After the transaction the reporting person beneficially owns 204,219 shares, held directly.

When was the Form 4 signed and who signed it?

The Form 4 was signed by Benjamin Landry, as Attorney-in-Fact on 09/04/2025.

What price was received for the sold shares?

The average price reported for the sale was $3.3627 per share.