Health Catalyst Director Vesting: 4,588 RSUs Convert to Shares

Rhea-AI Filing Summary

Julie Larson-Green, a director of Health Catalyst, Inc. (HCAT), had 4,588 restricted stock units (RSUs) vest on September 1, 2025. Each RSU converts to one share of common stock and the reported transaction shows no cash paid for the award. Following the vesting, Ms. Larson-Green is reported to beneficially own 115,839 shares directly. The Form 4 was signed on September 5, 2025, by an attorney-in-fact for the reporting person.

Positive

• Director alignment: Vesting of 4,588 RSUs increases the reporting directors direct ownership to 115,839 shares, which may better align interests with shareholders
• No cash paid on issuance: RSUs converted at a reported price of $0.00, consistent with standard vesting rather than a market purchase

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine director RSU vesting increases insider ownership modestly; no cash outlay reported and no immediate market-impacting signal.

The filing documents a scheduled vesting of 4,588 RSUs under the companys 2019 Plan that converted to common shares for a non-employee director, consistent with the Issuers Non-Employee Director Compensation Policy. The transaction is marked as an acquisition with a $0.00 price, which reflects issuance upon vesting rather than a market purchase. The change raises the directors direct beneficial ownership to 115,839 shares. This is a routine corporate governance event and does not, by itself, indicate a material change to the companys capital structure or signal non‑routine insider activity.

Corporate Governance Specialist

TL;DR: Vesting of director RSUs aligns director incentives with shareholders but is a standard, non‑material compensation event.

The disclosure shows full vesting of RSUs on a scheduled date in accordance with the 2019 Stock Option and Incentive Plan and the companys director compensation policy. Such vesting events are common for non‑employee directors and serve to increase alignment between leadership and shareholders. There is no indication of accelerated vesting, amendment, or unusual pricing that would raise governance or disclosure concerns.

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
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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^*

Larson-Green Julie

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

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	09/01/2025		A		4,588(1)	A	$0.00	115,839	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 an award of the Issuer's 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 and in accordance with the terms of Issuer's Non-Employee Director Compensation Policy, 100% of such RSUs vested on September 1, 2025.

Remarks:

	/s/Benjamin Landry, as Attorney-in-Fact	09/05/2025
	** 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 transaction did Julie Larson-Green report on Form 4 for HCAT?

The Form 4 reports the vesting and acquisition of 4,588 RSUs that converted to common stock on September 1, 2025.

How many HCAT shares does the reporting person own after this transaction?

After the reported vesting, the reporting person beneficially owns 115,839 shares directly.

Was any cash exchanged for the vested RSUs in the Form 4 filing?

No cash was reported; the transaction shows a price of $0.00, indicating issuance upon vesting.

Under what plan were the RSUs granted?

The RSUs were granted under the Issuer's 2019 Stock Option and Incentive Plan and vested per the Non-Employee Director Compensation Policy.

When was the Form 4 signed and filed?

The signature block shows the form was signed on September 5, 2025 by an attorney-in-fact.