HQY insider Delano Ladd reports 1,500-share stock sale

Rhea-AI Filing Summary

HealthEquity, Inc. (HQY) executive vice president and general counsel Delano Ladd reported selling 1,500 shares of common stock on 11/20/2025. The sale was executed at a price of $104.56 per share, according to a Form 4 insider trading report.

After this transaction, Ladd beneficially owns 75,479 shares of HealthEquity common stock in direct form. The filing notes that the transaction was carried out under a Rule 10b5-1 trading plan that he adopted on June 12, 2025, which allows pre-arranged trades to occur according to preset instructions.

Insider Trade Summary

Net Seller: 1,500 shares ($156,840)

Net Sell 1 txn

Insider Ladd Delano

Role EVP, General Counsel

Sold 1,500 shs ($157K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,500	$104.56	$157K

Holdings After Transaction: Common Stock — 75,479 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

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^*

Ladd Delano

(Last) (First) (Middle)

C/O HEALTHEQUITY, INC.

15 W. SCENIC POINTE DR., STE. 100

(Street)

DRAPER UT 84020

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HEALTHEQUITY, INC. [ HQY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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	11/20/2025		S(1)		1,500	D	$104.56	75,479	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. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 12, 2025.

	/s/ Delano Ladd	11/24/2025
	** 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 insider transaction did HealthEquity (HQY) report for Delano Ladd?

The report shows that Delano Ladd, EVP and general counsel of HealthEquity, Inc. (HQY), sold 1,500 shares of common stock on 11/20/2025 at $104.56 per share.

How many HealthEquity (HQY) shares does Delano Ladd own after the sale?

Following the reported transaction, Delano Ladd beneficially owns 75,479 shares of HealthEquity common stock, held directly.

Was the HealthEquity (HQY) insider sale made under a Rule 10b5-1 plan?

Yes. The filing states the transaction was effected under a Rule 10b5-1 trading plan adopted by Delano Ladd on June 12, 2025.

What is the role of the reporting person in HealthEquity (HQY)?

The reporting person, Delano Ladd, is an officer of HealthEquity, serving as EVP, General Counsel.

What transaction code was used in the HealthEquity (HQY) Form 4?

The transaction is coded as "S" in Table I, indicating an open-market or private sale of non-derivative securities.

Were any derivative securities reported in this HealthEquity (HQY) Form 4?

Table II for derivative securities is included but does not list any specific derivative transactions or holdings in the excerpt provided.