HQY Form 4: EVP Delano Ladd disposes of 977 HQY shares

Rhea-AI Filing Summary

Insider sale recorded: An officer and director, Delano Ladd (EVP, General Counsel), reported selling 977 shares of HealthEquity, Inc. (HQY) on 10/06/2025 at a reported price of $88.5674 per share. After the transaction, the reporting person beneficially owned 78,479 shares directly. The filing is a standard Section 16 Form 4 that discloses a non-derivative sale and includes a manual signature dated 10/08/2025.

The record shows a straightforward disposition of common stock by a company insider with no derivative transactions disclosed. The form supplies clear numbers for the shares sold, sale price, and remaining beneficial ownership but does not state the reason for the sale or any planned future transactions.

Positive

• Timely disclosure of the insider sale via a completed Section 16 Form 4
• Clear numeric detail provided: 977 shares sold at $88.5674, leaving 78,479 shares

Negative

• Insider sold shares, reducing direct ownership by 977 shares on 10/06/2025
• No 10b5-1 plan box is indicated, so the filing does not show the sale was under a pre-arranged plan

Insights

Corporate Governance Analyst

TL;DR: An officer sold a small portion of holdings; disclosure is complete and routine.

The filing documents a direct sale of 977 common shares by an officer and director at $88.5674 on 10/06/2025, leaving 78,479 shares beneficially owned. This is a non-derivative transaction reported on a standard Section 16 Form 4, which fulfills required insider reporting obligations.

Such sales can be routine (liquidity, tax needs) or part of pre-arranged plans; no 10b5-1 plan box is checked on the form so no contract-based affirmative defense is indicated. Monitor subsequent filings for additional sales or disclosures within the next few months to confirm whether this is isolated or part of a larger pattern.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Ladd Delano

Role EVP, General Counsel

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	977	$88.5674	$87K

Holdings After Transaction: Common Stock — 78,479 shares (Direct)

Footnotes (1)

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).

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)
10/06/2025

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	10/06/2025		F		977	D	$88.5674	78,479	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:

	/s/ Delano Ladd	10/08/2025
	** 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 did HEALTHEQUITY insider Delano Ladd report on Form 4 (HQY)?

The Form 4 reports that Delano Ladd sold 977 shares of HQY common stock on 10/06/2025 at $88.5674, leaving 78,479 shares beneficially owned.

Did the Form 4 indicate the sale was part of a 10b5-1 plan for HQY insider trades?

No. The filing does not indicate the transaction was executed pursuant to a 10b5-1 trading plan.

How much ownership does Delano Ladd retain after the reported sale?

After the sale, the reporting person beneficially owned 78,479 shares of HQY common stock according to the Form 4.

When was the Form 4 signed and filed for the HQY transaction?

The signature on the Form 4 is dated 10/08/2025, reflecting the filing of the disclosed transaction.

Was this Form 4 reporting a derivative transaction for HQY?

No. The Form 4 documents a non-derivative sale of common stock; no derivative securities were reported.