Health Catalyst COO reports 3,663-share sell-to-cover at $3.36

Rhea-AI Filing Summary

Daniel LeSueur, Chief Operating Officer of Health Catalyst, Inc. (HCAT), reported a sale of 3,663 shares of the issuer's common stock on 09/02/2025 at a price of $3.3627 per share. The filing states this sale was a mandatory "sell to cover" to satisfy tax-withholding obligations arising from the vesting of restricted stock units and not a discretionary trade. After the transaction, the reporting person beneficially owned 198,367 shares. The Form 4 was signed by Benjamin Landry as attorney-in-fact on 09/04/2025. The report documents an insider compliance action rather than an open-market decision.

Positive

• Compliance with equity plan: The sale was conducted under the issuer's mandated "sell-to-cover" tax withholding procedure.
• Transparent reporting: Transaction date, share count, price, and post-transaction holdings are clearly disclosed in the Form 4.

Negative

• Reduction in direct holdings: The reporting person sold 3,663 shares, decreasing reported direct ownership to 198,367 shares.

Insights

Corporate Governance Expert

TL;DR: Reported sale is a routine sell-to-cover for RSU tax withholding and indicates adherence to the company's equity plan, not an opportunistic sale.

The Form 4 discloses a non-discretionary sale of 3,663 shares at $3.3627 per share to satisfy tax obligations on vested restricted stock units. Such transactions are standard under many equity plans when companies mandate sell-to-cover to meet withholding requirements. The filing documents compliance and transparency; it does not provide evidence of a change in executive sentiment or a voluntary reduction in exposure beyond tax-related mechanics.

Securities Analyst

TL;DR: Small, mandated disposition with limited informational content for investors; changes reported precisely in holdings.

The transaction reduced direct beneficial ownership by 3,663 shares, leaving 198,367 shares reported as held. The per-share price of $3.3627 is disclosed, and the sale is explicitly tied to withholding for RSU vesting. As a single, plan-driven transaction, it is unlikely to be material to valuation or indicate a shift in insider conviction absent other disclosures.

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

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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^*

LeSueur Daniel

(Last) (First) (Middle)

C/O HEALTH CATALYST, INC.

10897 S. 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 Operating 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)		3,663	D	$3.3627	198,367	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 transaction did HCAT insider Daniel LeSueur report on Form 4?

The Form 4 reports a sale of 3,663 shares of Health Catalyst (HCAT) common stock on 09/02/2025 at $3.3627 per share.

Why were the HCAT shares sold by the reporting person?

The filing states the sale was a mandatory "sell to cover" to satisfy tax withholding obligations from the vesting of restricted stock units.

How many HCAT shares did Daniel LeSueur own after the reported transaction?

After the transaction, the reporting person beneficially owned 198,367 shares.

Who signed the Form 4 for this HCAT filing?

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

Was this sale reported as a discretionary trade or a plan-driven transaction?

The sale is reported as a plan-driven, mandatory sell-to-cover for tax withholding and is not a discretionary trade according to the filing.