HQY insider sale notice: 3,461 shares via option exercise on NASDAQ

Rhea-AI Filing Summary

HealthEquity, Inc. (HQY) filed a Form 144 proposing sale of 3,461 common shares valued at $322,915.80, to be sold on 09/05/2025 on NASDAQ. The filing shows the shares were acquired and paid for on 09/05/2025 through a stock option exercise from the issuer and paid in cash. The filer reports 86,156,334 shares outstanding, so the proposed sale represents a very small portion of the company’s outstanding common stock. The filer certifies they are not aware of any undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Small insider sale via option exercise; likely immaterial to HQY valuation.

The Form 144 discloses a proposed sale of 3,461 shares valued at $322,915.80, acquired and paid for on the same date by stock option exercise. Against 86,156,334 shares outstanding, this represents roughly 0.004% of the float, which is immaterial in size. There is no disclosure of other recent sales by the same person and no indication of undisclosed adverse information per the filer’s certification. From a market-impact perspective, this filing alone is routine and unlikely to affect HQY’s share price.

Corporate Governance Expert

TL;DR: Disclosure meets Rule 144 formality; no governance red flags in the filing.

The document indicates the sale arises from a stock option exercise and was to be executed through Morgan Stanley Smith Barney on NASDAQ. The filer affirms no material nonpublic information and there are no reported sales in the prior three months. Procedurally, the filing appears complete for a Rule 144 notice and raises no immediate governance concerns based on the provided details.

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	3461	322915.80	86156334	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	09/05/2025	Stock Option Exercise	Issuer			3461	09/05/2025	Cash

* 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

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

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 HealthEquity (HQY) report in this Form 144?

The filing reports a proposed sale of 3,461 common shares valued at $322,915.80, to be sold on 09/05/2025 on NASDAQ.

How were the shares acquired according to the Form 144?

The shares were acquired on 09/05/2025 through a stock option exercise from the issuer and paid for in cash on the same date.

Who is the broker named for the proposed sale?

The broker listed is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004.

What portion of outstanding shares does the proposed sale represent?

The filing lists 86,156,334 shares outstanding; the proposed sale of 3,461 shares is about 0.004% of that total.

Does the filer report any securities sold in the past three months?

The Form 144 indicates: Nothing to Report for securities sold during the past three months.