HQY insider files to sell 3,006 shares valued $266,233 on NASDAQ

Rhea-AI Filing Summary

Form 144 notice for HEALTHEQUITY, INC. (HQY) reports a proposed sale of 3,006 shares of common stock through Morgan Stanley Smith Barney on 10/06/2025 on NASDAQ. The filing lists an aggregate market value of $266,233.48 and 86,156,334 shares outstanding. The shares were received as restricted stock vesting on 03/30/2022 (1,718 shares), 03/29/2023 (744 shares), and 03/27/2024 (544 shares); payment is recorded as compensation. The filer reports no securities sold in the past three months for the account. The notice includes the standard attestation that the seller is unaware of undisclosed material adverse information.

Positive

• Planned sale size is modest: only 3,006 shares proposed for sale
• No reported sales in the past three months for the account, reducing near-term selling pressure

Negative

• Insider sale disclosed could modestly increase share supply on 10/06/2025
• Aggregate value is meaningful at $266,233.48 relative to a single transaction

Insights

Equity Capital Markets Specialist

TL;DR: A small insider sale of 3,006 shares valued at $266,233.48 is being registered for sale on NASDAQ on 10/06/2025.

The transaction is a routine notice under Rule 144 for shares that vested as restricted stock; total shares to be sold are 3,006 with an aggregate market value of $266,233.48. The sale will use Morgan Stanley Smith Barney as broker and is scheduled for 10/06/2025.

The principal dependencies are the market price at execution and satisfaction of Rule 144 conditions at sale time. Investors should note the filing states no sales in the past three months for this account, which limits immediate historical selling pressure. Monitor actual trade execution and any subsequent filings that confirm disposition.

Corporate Governance Analyst

TL;DR: Shares originated from vested restricted stock awarded as compensation over three years.

The securities were acquired via restricted stock vesting on 03/30/2022, 03/29/2023, and 03/27/2024

The filing includes the standard attestation about material information; absence of recent sales in the prior three months reduces signals of ongoing executive selling. Watch for any Form 4 filings following the sale that would report the actual disposition and remaining beneficial ownership.

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 Stock	Morgan Stanley Smith Barney 2000 Westchester Ave Purchase NY 10577-2530	3006	266233.48	86156334	10/06/2025	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 Stock	03/30/2022	Restricted Stock Vesting	ISSUER			1718	10/06/2025	Compensation
Common Stock	03/29/2023	Restricted Stock Vesting	ISSUER			744	10/06/2025	Compensation
Common Stock	03/27/2024	Restricted Stock Vesting	ISSUER			544	10/06/2025	Compensation

* 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) Form 144 report?

It reports a proposed sale of 3,006 common shares with an aggregate market value of $266,233.48 to be sold on 10/06/2025 via Morgan Stanley Smith Barney on NASDAQ.

How were the HQY shares acquired that are being sold?

The shares were acquired through restricted stock vesting on 03/30/2022 (1,718 shares), 03/29/2023 (744 shares), and 03/27/2024 (544 shares).

Did the filer sell any HQY shares in the past three months?

The filing states Nothing to Report for securities sold during the past three months by the account.

Where will the HQY shares be sold?

The sale is reported to occur on NASDAQ through the broker Morgan Stanley Smith Barney located at 2000 Westchester Ave, Purchase, NY.

What attestation does the filer make in the Form 144?

The filer attests they do not know of any material adverse information about the issuer that has not been publicly disclosed and highlights Rule 10b5-1 plan considerations if applicable.