HealthStream (HSTM) director adds 3,148 shares as RSUs vest into stock

Rhea-AI Filing Summary

HealthStream director Terry Allison Rappuhn acquired 3,148 shares of common stock on June 8, 2026 through the vesting of restricted share units (RSUs). After these equity awards settled, she directly held 10,391 common shares, along with multiple RSU grants that continue to vest over three-year schedules tied to continued service.

Insights

Equity compensation analyst

Routine RSU vesting increased the director’s direct share holdings.

Terry Allison Rappuhn, a director of HealthStream, reported equity compensation activity rather than open-market trading. She acquired 3,148 common shares via RSU vesting and now directly holds 10,391 shares. No purchases or sales in the market were disclosed.

The filing shows three RSU grants with different schedules. One grant partially vested beginning on June 6, 2024, another begins vesting on May 30, 2025, and a third on May 29, 2026. Each vests annually in three equal installments, contingent on continued service.

Because there were no open-market buys or sells and no remaining derivative positions listed, this looks like standard director compensation. Future company filings may give more detail on additional grants or changes to these vesting schedules.

Insider Trade Summary

3,148 shares exercised/converted

Mixed 4 txns

Insider RAPPUHN TERRY ALLISON

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	1,126	$0.00	--
Exercise	Restricted Share Units	1,006	$0.00	--
Exercise	Restricted Share Units	1,016	$0.00	--
Exercise	Common Stock Holding	3,148	$0.00	--

Holdings After Transaction: Restricted Share Units — 0 shares (Direct, null); Common Stock Holding — 10,391 shares (Direct, null)

Footnotes (1)

1. Shares acquired on vesting of restricted share units. Each restricted share unit (RSU) represents the contingent right to receive one share of common stock upon vesting of the unit. The RSU's are subject to a three year vesting schedule, contingent upon continued service at the time of vesting. The RSU's vest annually beginning June 6, 2024 in three equal installments. Not applicable. The RSU's are subject to a three year vesting schedule, contingent upon continued service at the time of vesting. The RSU's vest annually beginning May 30, 2025 in three equal installments. The RSU's are subject to a three year vesting schedule, contingent upon continued service at the time of vesting. The RSU's vest annually beginning May 29, 2026 in three equal installments.

Key Figures

Common shares acquired: 3,148 shares Direct holdings after transaction: 10,391 shares RSU grant 1 vested: 1,016 units +4 more

7 metrics

Common shares acquired 3,148 shares Common Stock Holding acquired on June 8, 2026 via RSU vesting

Direct holdings after transaction 10,391 shares Total common stock directly held after June 8, 2026 transactions

RSU grant 1 vested 1,016 units Restricted Share Units converting into common stock on June 8, 2026

RSU grant 2 vested 1,006 units Restricted Share Units converting into common stock on June 8, 2026

RSU grant 3 vested 1,126 units Restricted Share Units converting into common stock on June 8, 2026

RSUs remaining grant 1 2,032 units Restricted Share Units outstanding after transaction

RSUs remaining grant 2 1,006 units Restricted Share Units outstanding after transaction

Key Terms

restricted share units, contingent right, three year vesting schedule, vest annually in three equal installments, +1 more

5 terms

restricted share units financial

"Shares acquired on vesting of restricted share units."

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

contingent right financial

"Each restricted share unit (RSU) represents the contingent right to receive one share of common stock"

three year vesting schedule financial

"The RSU's are subject to a three year vesting schedule, contingent upon continued service at the time of vesting."

vest annually in three equal installments financial

"The RSU's vest annually beginning June 6, 2024 in three equal installments."

exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

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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).

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^*

RAPPUHN TERRY ALLISON

(Last) (First) (Middle)

500 11TH AVENUE NORTH

SUITE 850

(Street)

NASHVILLE TENNESSEE 37203

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HEALTHSTREAM INC [ HSTM ]

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)
06/08/2026

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 Holding	06/08/2026		M		3,148(1)	A	$0	10,391	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
Restricted Share Units	$0(2)	06/08/2026		M			1,126	(3)	(4)	Common Stock	1,126	$0	0	D
Restricted Share Units	$0(2)	06/08/2026		M			1,006	(5)	(4)	Common Stock	1,006	$0	1,006	D
Restricted Share Units	$0(2)	06/08/2026		M			1,016	(6)	(4)	Common Stock	1,016	$0	2,032	D

Explanation of Responses:

1. Shares acquired on vesting of restricted share units.

2. Each restricted share unit (RSU) represents the contingent right to receive one share of common stock upon vesting of the unit.

3. The RSU's are subject to a three year vesting schedule, contingent upon continued service at the time of vesting. The RSU's vest annually beginning June 6, 2024 in three equal installments.

4. Not applicable.

5. The RSU's are subject to a three year vesting schedule, contingent upon continued service at the time of vesting. The RSU's vest annually beginning May 30, 2025 in three equal installments.

6. The RSU's are subject to a three year vesting schedule, contingent upon continued service at the time of vesting. The RSU's vest annually beginning May 29, 2026 in three equal installments.

	/s/ Terry A. Rappuhn	06/09/2026
	** 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)

FAQ

What did HealthStream (HSTM) director Terry Allison Rappuhn report in this Form 4?

She reported acquiring 3,148 shares of HealthStream common stock through the vesting of restricted share units. These equity awards converted into shares at no cash cost, reflecting standard compensation rather than an open-market stock purchase or sale.

How many HealthStream (HSTM) shares does the director hold after these transactions?

After the reported vesting on June 8, 2026, she directly holds 10,391 shares of HealthStream common stock. This figure reflects her position following the RSU conversions disclosed, giving a clearer picture of her current direct ownership stake.

Were there any open-market buys or sells in this HealthStream (HSTM) Form 4?

No open-market purchases or sales were reported. All transactions carry code M, indicating exercises or conversions of derivative securities, specifically restricted share units vesting into common stock as part of the director’s equity compensation program.

How do the restricted share units (RSUs) for HealthStream (HSTM) vest for this director?

Each RSU represents the right to receive one share upon vesting and is subject to a three-year vesting schedule. The RSUs vest annually in three equal installments, contingent on continued service at vesting dates starting June 6, 2024, May 30, 2025, and May 29, 2026.

What is the significance of transaction code M in this HealthStream (HSTM) Form 4?

Transaction code M indicates exercise or conversion of a derivative security, not a market trade. Here it shows restricted share units converting into common stock as they vest, which is a routine equity compensation event for the director rather than discretionary trading activity.

How many HealthStream (HSTM) RSUs remain outstanding for the director after vesting?

After the June 8, 2026 vesting, one RSU grant shows 2,032 units outstanding and another 1,006 units. A third RSU grant was fully converted to common shares, leaving zero units for that specific award, based on the reported post-transaction balances.