HealthEquity director granted 2,877 RSUs

HEALTHEQUITY, INC. director Debra Charlotte McCowan received an equity award of 2,877 restricted stock units, each representing one share of common stock.

Rhea-AI Filing Summary

HEALTHEQUITY, INC. director Debra Charlotte McCowan received an equity award of 2,877 restricted stock units, each representing one share of common stock. These units vest in full on the earlier of June 25, 2027 or the company’s next annual stockholder meeting in June 2027. After this grant, she directly holds 12,659 shares of common stock. The vested shares will be delivered to her when the units vest, making this a compensation-related, non‑cash acquisition rather than an open-market purchase.

Insights

Equity Compensation Analyst

Routine director RSU grant; non‑cash, long-dated vesting.

Director Debra Charlotte McCowan received 2,877 restricted stock units, which are a standard form of equity compensation. The award carries no cash cost to her, with a reported price of $0.0000 per share, and settles in common stock at vesting.

The RSUs vest in full on the earlier of June 25, 2027 or the next annual stockholder meeting in June 2027, aligning director incentives with longer-term company performance. Following the grant, she holds 12,659 common shares directly, indicating this is a modest, compensation-driven position adjustment rather than a trading signal.

Insider Trade Summary

Grant/Award: 2,877 shares

Grant/Award 1 txn

Insider McCowan Debra Charlotte

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,877	$0.00	$0.00

Holdings After Transaction: Common Stock — 12,659 shares (Direct)

Footnotes (1)

1. F1. Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock. The restricted stock units vest in full on the earlier of; (i) June 25, 2027, or (ii) the date of the issuer's next annual stockholder meeting in June 2027. Vested shares will be delivered to the reporting person upon vesting.

Key Figures

RSU grant size: 2,877 units Grant price: $0.0000 per share Post-grant holdings: 12,659 shares +1 more

4 metrics

RSU grant size 2,877 units Restricted stock units awarded to director

Grant price $0.0000 per share Reported price for awarded RSUs

Post-grant holdings 12,659 shares Common stock directly held after transaction

Vesting date June 25, 2027 Or earlier next annual stockholder meeting in June 2027

Key Terms

restricted stock unit, vest in full, annual stockholder meeting, grant, award, or other acquisition

4 terms

restricted stock unit financial

"Each restricted stock unit represents a contingent right to receive one share"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

vest in full financial

"The restricted stock units vest in full on the earlier of; (i) June 25, 2027"

annual stockholder meeting financial

"or (ii) the date of the issuer's next annual stockholder meeting in June 2027"

An annual stockholder meeting is a yearly gathering where a company's owners (shareholders) receive updates on performance, vote on key issues like board members, executive pay and major corporate plans, and ask questions of management. Think of it as a company town hall where choices about oversight and direction are decided; outcomes can affect management accountability, corporate strategy and ultimately the value and risks of investors’ shares.

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did HealthEquity (HQY) director Debra McCowan report on this Form 4?

Debra Charlotte McCowan reported receiving 2,877 restricted stock units as an equity award. Each unit represents one share of HealthEquity common stock and was granted at a reported price of $0.00 per share as part of her director compensation.

How many HealthEquity (HQY) shares does Debra McCowan hold after this RSU grant?

After the reported grant, Debra Charlotte McCowan directly holds 12,659 shares of HealthEquity common stock. This figure reflects her position following receipt of the 2,877 restricted stock units that will ultimately settle in shares once the vesting conditions are met.

When do Debra McCowan’s 2,877 HealthEquity restricted stock units vest?

The 2,877 restricted stock units vest in full on the earlier of June 25, 2027, or the date of HealthEquity’s next annual stockholder meeting in June 2027. Once that vesting event occurs, the underlying shares will be delivered to her.

Is Debra McCowan’s HealthEquity Form 4 a stock purchase or compensation grant?

The Form 4 reflects a compensation grant, not an open-market stock purchase. It records 2,877 restricted stock units awarded at a price of $0.0000 per share, described as a grant, award, or other acquisition, which will deliver common shares upon future vesting.

What security type is involved in Debra McCowan’s latest HealthEquity filing?

The filing lists common stock as the security, with a footnote explaining each restricted stock unit equals one share of common stock. These RSUs are contingent rights that convert into common shares and are delivered to the reporting person once the vesting conditions are satisfied.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/29/2026 - 04:29 PM Learn about SEC filing dates

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).

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^*

McCowan Debra Charlotte

(Last) (First) (Middle)

C/O HEALTHEQUITY, INC.

15 W. SCENIC POINTE DR., STE. 100

(Street)

DRAPER UTAH 84020

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/25/2026		A		2,877(1)	A	$0	12,659	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. Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock. The restricted stock units vest in full on the earlier of; (i) June 25, 2027, or (ii) the date of the issuer's next annual stockholder meeting in June 2027. Vested shares will be delivered to the reporting person upon vesting.

Remarks:

The Power of Attorney given by Ms. McCowan was previously filed with the U.S. Securities and Exchange Commission on June 26, 2023, as an exhibit to a statement on Form 4 filed by Ms. McCowan with respect to HealthEquity, Inc. and is hereby incorporated by reference.

	/s/ Michael Newton, Attorney-in-Fact	06/29/2026
	** 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.
* Form 4: SEC 1474 (03-26)