HQY insider files Form 144 to sell 1,781 RSU shares for $156K

Rhea-AI Filing Summary

Notice of proposed sale under Rule 144: An individual associated with HEALTHEQUITY, INC. (HQY) indicated an intent to sell 1,781 shares of common stock through Morgan Stanley Smith Barney LLC on 10/07/2025. The filing lists an aggregate market value of $156,336.18 for those shares and reports 86,156,334 shares outstanding for the issuer.

The securities were recorded as granted as Restricted Stock Units with an acquisition date of 10/01/2025, and the filing also discloses prior sales by the same person on 10/01/2025 totaling 1,649 shares for gross proceeds of $146,047.64. The notice includes the standard Rule 144 certification that the seller does not possess undisclosed material adverse information.

Positive

• Transparent disclosure of a proposed Rule 144 sale of 1,781 shares valued at $156,336.18
• Transaction source disclosed as Restricted Stock Units acquired on 10/01/2025, clarifying the nature of the holdings

Negative

• None.

Insights

Insider Compliance Analyst

TL;DR: Routine Rule 144 notice for recently acquired RSUs, showing small-volume sales.

The filing records 1,781 common shares tied to restricted stock units acquired on 10/01/2025 and proposed for sale on 10/07/2025 via Morgan Stanley Smith Barney LLC. This aligns with a typical post‑vesting disposition where an insider converts equity awards and schedules a sale under Rule 144.

Key dependencies include the issuer's reported 86,156,334 shares outstanding and the seller's Rule 144 certification about material non‑public information. Monitor any subsequent Form 4 or additional 144 filings within days for execution details or further insider sales.

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	1781	156336.18	86156334	10/07/2025	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	10/01/2025	Restricted Stock Units	Issuer			1781	10/01/2025	N/A

* 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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
MICHAEL FIORE 15 West Scenic Pointe Drive, Suite 100 Draper UT 84020	Common	10/01/2025	1649	146047.64

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 did HEALTHEQUITY (HQY) disclose in this Form 144?

The filing discloses a proposed sale of 1,781 common shares via Morgan Stanley Smith Barney LLC with an aggregate market value of $156,336.18 and an approximate sale date of 10/07/2025.

What type of securities are being sold in the HQY Form 144?

The securities are Common shares originally recorded as Restricted Stock Units acquired on 10/01/2025.

Has the filer sold any HQY shares recently according to the filing?

Yes. The filing lists a sale on 10/01/2025 of 1,649 shares for gross proceeds of $146,047.64.

Which broker is handling the proposed HQY sale?

The proposed sale is to be handled by Morgan Stanley Smith Barney LLC at the New York Plaza address shown in the filing.

How many HQY shares were reported outstanding in the filing?

The filing reports 86,156,334 shares outstanding for the issuer.